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Minority Business Development

Minorities represent about 28 percent of the U.S. population and own 15 percent of all U.S. businesses, according to the Census Bureau. A new report, "The New Agenda for Minority Business Development," sponsored by the Ewing Marion Kauffman Foundation, encourages minority-owned businesses to adopt more aggressive growth strategies.

The authors contend that minority-owned businesses are not keeping pace with the larger U.S. business community and are hampered by lack of experience and access to networks and capital. To close the gap between minority-owned businesses and the broader business community, the study recommends that minority entrepreneurs pursue opportunities in growth industries such as information technology; employ growth strategies such as strategic alliances and partnerships; and access financing sources, including private and equity financing.

Negocios Octubre 6, 2005 10:55 PM