Minority Business Ownership
A while back, we posted an entry talking about the low ratio of government contracts for minority-owned businesses. In that post, we emphasized a greater burden on minority business owners to compete on government contracts.
In this opinion piece, we will examine the value of equal opportunity for small business owners, society, and the economy. The most significant aspect of equal opportunity for minority business owners is philosophical. The concepts of a melting pot, the American dream, and giving us your poor is certainly the basis for seeking equal opportunity.
However, there is a bit more to it. The fact that American society is composed of such a diverse population begs the question of why there shouldn’t be a proportionate representation of minority-owned businesses in government contracts. It is certainly logical and rational to assume that government contracts would not be an exception in a society with equality in all aspects of life.
Similarly, considering many different sources, it is safe to state that minority business owners contribute proportionately equal to the economy as their counterparts. The impact of such equality in overall contribution to the economy is enhanced by the fact that minority business owners equally contribute to overall societal well-being through financial contributions and other actions, including creating jobs and stimulating their respective local communities.
Nevertheless, there is certainly enough blame to go around. One of the rather significant reasons is certainly within the legislative branch. The respective Congress members have not made any recent great effort to promote the interest of minority business owners. Similarly, minority business owners have certainly not exhausted their options either. The fact that minority business associations and trade groups have not circled the wagons to establish a powerful lobby begs the question and commitment of participating and influencing local, state, or federal policies.
In the coming days and months, we will continue to post our opinion about this topic and potential plans to rectify the underrepresentation of minority business owners in government contracts.
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