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MBE and WBE Research and Development
Overview
Minority- and women-owned business enterprises (M/WBEs) are an important part of a family and community asset-building strategy. Minority-owned businesses help strengthen regional economies; they create jobs, increase tax revenue, and provide goods and services to people of color. The Insight Center works to develop specific economic-development strategies, including public-policy initiatives, for M/WBE development. This is necessary because M/WBEs face more severe barriers to success than other businesses, and historically have a significantly lower portion of market share per capita than white/male-owned businesses.
Outcomes
A major component of our M/WBE economic-development strategy is an industry-focused M/WBE research model, which analyzes the industry sector strength of MBE or WBE businesses in a region compared to the regional economy as a whole. This research model can help foundations, public agencies, and financial institutions become more strategic in their support of minority- and women-owned business development by building on the strength of M/WBEs in the region. The model is exemplified by our research for The Cleveland Foundation, which looked at the strengths and weaknesses of Cleveland's minority-owned business enterprises by industry sector, and recommended best-practice strategies to promote MBE growth and development.
A sector-specific M/WBE development strategy can also impact the strength of a regional economy, as Insight Center President Roger Clay Jr. discussed in an article that appeared in the March/April 2007 issue of FOCUS. This article is provided with the permission of the Joint Center for Political and Economic Studies.
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