Realizing the New Agenda for Minority Business Development

Realizing the New Agenda for Minority Business Development

          
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Realizing the New Agenda for Minority Business Development

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  • In This Article
    • Once hobbled by many handicaps, minority-owned businesses have made marked progress over the last two decades.
    • The number of minority-owned businesses does not yet reflect the growing size of minority communities in the United States.
    • Achieving continued progress demands a new agenda, with a focus on growing large and self-sustaining minority businesses.
    • The new agenda will benefit not only the entrepreneurs who succeed but also major corporations and society.
     

    In 2004 the Ewing Marion Kauffman Foundation commissioned The Boston Consulting Group to research the issues confronting minority-owned businesses in the United States, to determine the major trends that support or impede the development of minority-owned businesses, and to outline a series of recommendations that could improve the overall environment for minority-owned businesses.

    After collaborating with public- and private-sector institutions to examine these issues, BCG and the Kauffman Foundation drafted The New Agenda for Minority Business Development. The report, published by the Kauffman Foundation in June 2005, compiled BCG’s findings, assessed the progress that has been made by minority businesses, and identified the challenges that lie ahead in a dynamic global market.

    This report, BCG’s follow-up to the earlier report, outlines the steps that major corporations, government, and minority entrepreneurs should take to embrace a new agenda that will advance minority businesses in a meaningful way. The report is the first of its kind from BCG’s Diversity practice, a group that focuses on assisting corporate clients in advancing work force diversity, supplier diversity, and ethnic marketing.

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