Advocacy in Action Quarterly Update

Greetings Ying,

Welcome to the NMSDC Advocacy in Action Quarterly Update for the second quarter of 2023. In this edition, we highlight key initiatives, meetings, and partnerships that have shaped our advocacy efforts and contributed to the advancement of minority-owned businesses. Let's dive into the exciting developments: 

2023 Minority Business Economic Forum

NMSDC successfully organized the Second Annual 2023 Minority Business Economic Forum in Miami, a national platform that fostered critical discussions on economic growth amongst the nation’s top thought leaders from government, corporate partners, and entrepreneurs. The Forum featured insightful sessions including: 

The Ebb and Flow of Equity and Capital: Experts explored the dynamics of equity and capital in the minority business sector, emphasizing the importance of financial resources and investment opportunities. 

A State of Transformation: The New Fuel of Emerging Markets and Technology: This session, led by the Minority Business Development Agency (MBDA) and representatives from The White House, focused on the transformative power of emerging markets and technology opportunities made available by the Infrastructure Investment and Jobs Act. 

The Forum highlighted guest speakers from federal, state, and local Florida officials including U.S. Senator Marco Rubio, Miami Mayor Francis Suarez, and several other local officials that came to speak on the importance of minority-owned businesses in the state of Florida. 

Capital Manager's Program

Access to Capital continues to be one of the major pillars of NMSDC’s advocacy efforts. We proudly launched the NMSDC Capital Manager’s Program, an initiative designed to provide support and resources to minority-owned businesses seeking capital. The program aims to foster growth and enhance economic opportunities for minority entrepreneurs. More information about the program can be found here.   

Meeting with Administrative Officials

NMSDC continues having strategic meetings with top administration cabinet officials to advocate and elevate minority businesses to be critical businesses in the innovation economy.  

President CEO Ying McGuire and Vice President of Strategic Alliances Lisa Morris met with Secretary of Energy Jennifer Granholm, Secretary of Treasury Janet Yellen, Deputy Secretary of Treasury Wally Adeyemo, and Director of the Office of Small Business at the U.S. Department of Defense (DoD) Farooq Mitha in Washington, D.C. These engagements allowed us to advocate for the interests of minority-owned businesses and explore collaborative opportunities to support their growth in multiple sectors. We are being very deliberate in ensuring MBEs are part of the new renewable energy sector through increased access to opportunities and capital financing with this growing industry. 

NMSDC also partnered with the next Business Leader's Briefing at the White House, featuring Aviva Aron-Dine, deputy director of the National Economic Council at The White House. We actively contributed to the discussion on the debt ceiling and offered additional insights on important advocacy matters to MBEs. 

The Success Act 

NMSDC actively engaged with Congresswoman Velazquez and Senator Cardin by submitting letters of support for the reintroduction of “The Solving the Unnecessary Contracting Cliff for Enterprises to Scale Successfully (SUCCESS) Act.” The SUCCESS Act creates a pilot program to help small business federal contractors that are on the threshold of becoming “other-than-small” to transition into larger, more competitive companies. This includes businesses owned by the socially and economically disadvantaged, women, and service-disabled veterans. If passed into law, the SUCCESS Act will help close a significant gap that presently contributes to a declining federal small business industrial base. NMSDC participated in meetings and sent support letters to these esteemed representatives, highlighting the importance of advancing MBEs and promoting economic growth. 

Planning for Advocacy Day at NMSDC's Annual Conference & Exchange  

NMSDC commenced planning for Advocacy Day, a prominent part of this year’s Annual Conference & Exchange. Advocacy Day will provide an excellent platform for minority-owned businesses to learn how to engage with policymakers, share their perspectives, and advocate for policies that promote their economic empowerment. 

Build Up Local Meeting with Senior Biden-Harris Administration Officials  

NMSDC facilitated a meeting between Build Up Local Leaders and senior officials from the Biden-Harris Administration. The discussions centered around the inclusive and accountable implementation of over $1.5 trillion in recent economic investments, ensuring that minority-owned businesses have equitable access to these opportunities. Further details about this meeting can be found here.  

Additional Advocacy

NMSDC aided many additional national policy efforts through letters of support and press statements and attended national thought leadership events including: 

• NMSDC’s Statement on the Supreme Court’s Affirmative Action Ruling and its Impact on Minority Businesses - June 29 (Statement) 
• NMSDC Joins Business Leaders in Response to President Biden’s Major Economic Speech in Chicago - June 28 (Statement)
• Jessica Cavazos’s swearing-in ceremony as the first ever Deputy Under Secretary of Commerce for Minority Business Development Agency U.S. Department of Commerce. - May 17 (Event) 
• NMSDC-Certified MBE Opens White House Women’s Business Summit - April 28 (Event)
• Advancing Minority Owned Businesses Through Political Advocacy. - April 16 (Blog) 

Thank you for your continued support of our advocacy efforts. It makes a big difference as we engage top policymakers to tell the story of MBE equity and share the need for increased contracting opportunities. 

Follow Us on Social Media

Scaling MBEs Together