August 18, 2023

The U.S. Department of Commerce’s Minority Business Development Agency (MBDA) is seeking nominations for the inaugural Minority Business Enterprises Advisory Council (MBEAC). The objective of the MBEAC is to provide group advice to the Under Secretary of Commerce for Minority Business Development on matters pertaining to the growth and global competitiveness of the nation’s 9.7 million minority business enterprises (MBEs). The MBEAC’s activities will specifically include: (1) identifying barriers to entrepreneurship and business growth; (2) providing insight related to the economic conditions of socially or economically disadvantaged businesses; (3) proposing opportunities for collaboration on and coordination of policies relating to entrepreneurship and business growth for socially and economically disadvantaged businesses; and (4) advising on measures to better achieve MBDA’s objectives. 

The MBEAC will consist of nine members from the private sector, as well as at least ten members from federal agencies that support or otherwise have duties related to business formation, including duties relating to labor development, monetary policy, national security, energy, agriculture, transportation, and housing. The MBEAC will meet 2-3 times per year and members will serve for a term of two years. Members can be reappointed after the two-year term expires.

The MBDA notes that in order to be selected to serve on the MBEAC, members should: (1) represent diverse backgrounds, including companies of varying sizes, labor and trade associations, non-profit organizations, chambers of commerce, financial entities, academia and think tanks, and stakeholders involved in MBE growth and development; (2) possess significant expertise and experience in areas relevant to the growth and development of MBEs and the business ecosystem, such as business development, entrepreneurship, finance, policy advocacy, or related fields; (3) have a demonstrated commitment to advancing the social and economic life of MBEs as evidenced through past involvement in initiatives, projects, or policy advocacy aimed at supporting and empowering MBEs; (4) be geographically diverse to ensure regional representation and capture expertise regarding the unique challenges and opportunities faced by MBEs in different parts of the country; (5) be able and willing to dedicate the time and effort necessary to fulfill their responsibilities effectively; (6) demonstrate the ability to work collaboratively in a team environment; and (7) be impartial and independent and capable of providing objective advice and guidance.

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