The Capital Access Forum will soon announce the formation of a Policy Advisory Council, composed of representatives of major financial institutions, community banks and small and monority businesses.
The Council will meeting quarterly and will advise the U.S. Treasury Department, the Commerce Department, The Pentagon, Department of Energy, Department of Agriculture and the White House on key financing issues. This is the first time such a Council has been created to advise the highest levels of the government.
If you are interested in serving, please email us for information on the qualifications needed to be considered for appointment to the Council.
Why do big business failures take money away from small businesses?
When a larger business becomes delinquent on a loan, a small business may suffer. The bank holding the large business loan may be forced to call in loans or lines of credit to several small or minority businesses to meet loan portfolio standards.
The Capital Access Forum is working with the Commerce Department to try to find a way to resolve this problem, in which smaller businesses become victims even when they are meeting the terms of their credit and loan agreements.
The Capital Access Forum is working with the Commerce Department to try to find a way to resolve this problem, in which smaller businesses become victims even when they are meeting the terms of their credit and loan agreements.
Commerce Department, George Washington University Sponsor May 11-12 Forum
The U.S. Department of Commerce and George Washington University are sponsoring the May 11-12 Capital Access Forum in Washington.
Anyone with an interest in learning where and whether capital is available for small and minority enterprises shouldconsider attending. For details, visit the Forum web site: http://capitalaccessforum.net. For information, call 202-842-3232.
Anyone with an interest in learning where and whether capital is available for small and minority enterprises shouldconsider attending. For details, visit the Forum web site: http://capitalaccessforum.net. For information, call 202-842-3232.
On the Fringes of the Economy
Because minority businesses are generally small and operate on the fringes of the American mainstream economy as it is, they have very little margin for error.
Securing corporate and government contracts, a challenge in good times, has become virtually impossible in this recessionary environment. As a result, the recession has caused a precipitous decline in revenues and has rendered many companies unprofitable.
The National Minority Supplier Development Council has worked full time to assist minority companies with gaining access to contracts with the likes of General Motors and Ford. It is rather self-evident that business from the auto companies has all but dried up. In the case of government contracts, a substantial percentage of the contracts have been as sub-contracts with larger government contractors.
With tight budget and spending contraction, minorities face a shrinking opportunity set with large government contractors. The new Administration’s expressed plans to enact an economic stimulus package offers some hope, but the true nature of the revenue opportunities are yet unknown.
Securing corporate and government contracts, a challenge in good times, has become virtually impossible in this recessionary environment. As a result, the recession has caused a precipitous decline in revenues and has rendered many companies unprofitable.
The National Minority Supplier Development Council has worked full time to assist minority companies with gaining access to contracts with the likes of General Motors and Ford. It is rather self-evident that business from the auto companies has all but dried up. In the case of government contracts, a substantial percentage of the contracts have been as sub-contracts with larger government contractors.
With tight budget and spending contraction, minorities face a shrinking opportunity set with large government contractors. The new Administration’s expressed plans to enact an economic stimulus package offers some hope, but the true nature of the revenue opportunities are yet unknown.
The Case for Small and Minority Businesses
In 1929, the Dow Jones Industrial Average, according to The Forgotten Man, had reached a high of 381 and unemployment was at 5%. By 1934, the Dow had plunge more than 75% to 93 and unemployment had risen to a shocking 23%.
In 2009, we are in an economic crisis that has shaken the foundations of the core industries and companies in the U.S. economy. It is not difficult to fathom how it must be affecting minority owned businesses.
To say it has been catastrophic would not be overstating the case. And there are definite and logical reasons why minority businesses are more vulnerable than others in tough economic times.
But in this crisis, the compound effect of the recession and the tight credit market has conspired to put minority businesses as we know them today on a path to extinction, not unlike the well publicized challenges faced by the auto companies and the financial services industry.
In 2009, we are in an economic crisis that has shaken the foundations of the core industries and companies in the U.S. economy. It is not difficult to fathom how it must be affecting minority owned businesses.
To say it has been catastrophic would not be overstating the case. And there are definite and logical reasons why minority businesses are more vulnerable than others in tough economic times.
But in this crisis, the compound effect of the recession and the tight credit market has conspired to put minority businesses as we know them today on a path to extinction, not unlike the well publicized challenges faced by the auto companies and the financial services industry.
Bringing Capital to Small and Minority Business
This recession is hurting many businesses. But small and monority businesses are hurting the most, simply because financing for smaller enterprises dries up first.
Capital Access Forum 2009
The Capital Access Forum, in conjunction with the U.S. Department of Commerce, Minority Business Development Agency, and George Washington University, will present the 2009 Forum on May 11-12, 2009, at the Jack Morton Auditorium on the GWU campus.
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