Minority and Women Entrepreneurs

The NYS SBDC provides services to strengthen the small business community and promote economic growth throughout the state. The SBDC provides services to all small business populations, including special emphasis groups such as women, minorities, Native Americans, 8(a) firms in all stages, veterans and service-connected disabled veterans, reservists called to active duty, people with disabilities, individuals currently and formerly receiving public assistance, individuals in low -and moderate- income urban and rural areas, and individuals located in Empowerment Zones and HUB Zones.

The services provided by the SBDC are available to all citizens on a non-discriminatory basis, and are tailored to the local community and the needs of individual clients. The SBDCs make special efforts to reach members of socially and economically disadvantaged groups, members of ethnic communities, women and the disabled.

Minorities: The SBDC provides special attention to the needs of minority entrepreneurs by identifying procurement opportunities, locating sources of capital, and supporting outreach efforts of minority business people around the state. How does the SBDC define minority? "Minority" is defined as a United States citizen who is a Black (African) American, Hispanic American, Native American, Asian-Pacific American, or Asian-Indian American.

Useful Links for Minority Entrepreneurs and Business Owners

Native Americans:

According to the Census Bureau’s Economic Census, between 1992 and 1997, the number of Native American-owned businesses has jumped by 84 percent to 197,300. 85 percent of these firms are micro-enterprises. This compares with a seven percent increase for all US firms.  The SBDC is committed to working with Native American entrepreneurs to help them build and grow small businesses and to help build the small business community where they live. There are a variety of small business resources available that have been developed specifically to help Native Americans start and operate small businesses.

Useful Links for Native American Entrepreneurs and Business Owners

Women:

Women-owned businesses are increasing in number, range, diversity and earning power. As women business owners expand their companies, they become increasingly important to the local, regional and national economies. The figures are mounting, both in receipts from women-owned companies and in numbers of women entrepreneurs, providing definition to the substantial economic impact of women business owners.

The SBDC serves women entrepreneurs by providing training, technical assistance and financing. The regional SBDC offices also coordinate business roundtables, networking groups, and “successful women in business” forums. The SBDC regional offices collaborate with Women’s Business Centers (WBCs) to sponsor workshops and other programs.  SBDC wants to ensure that women entrepreneurs know the range of programs and publications available to them throughout their business careers, from start-up to expansion and beyond.

For example, the SBDC informs women entrepreneurs and business owners about the SBA Office of Women's Business Ownership (OWBO), which offers current and potential women business owners access to a variety of services and resources, including pre-business workshops, technical, financial and management information, and training conferences on exporting, access to capital and selling to the federal government. The ever increasing number of women business owners can readily find valuable information and skill building opportunities through a national network of SBA women's business ownership representatives.

Useful Links for Women Entrepreneurs and Business Owners

8(a) and Minority and Women Business Enterprise Certification
Small businesses with 8(a) or Minority Women Business certification can take advantage of opportunities that level the playing field within the private and public sector. With certification, minority and women-owned firms capable of producing quality products and services at competitive prices have a more competitive position.

SBA Loan Programs
The SBA has a small business loan pre-qualification program that is designed especially for groups who are historically underrepresented in the business community. Other groups may include borrowers in specially designated geographic areas, exporters, rural businesses and other selected industries. The pre-qualification program works in reverse order to the standard loan application process. The pre-qualification application is prepared and submitted directly to SBA. If the loan application is approved, the SBA issues a pre-qualification letter stating the agency's intent to authorize a loan guaranty. You can take the letter to prospective lenders to seek their participation in the SBA-guaranteed loan. Until you have a lender willing to participate with SBA, you do not have a loan.