This is at least the third time Guzman has visited Atlanta in recent months, and she says the city is a bit of a touchstone for the SBA's work in underrepresented communities. Her goal for this trip is to connect Black and minority entrepreneurs with funding and growth opportunities.
“We know that capital disparities and market disparities are critical, especially for Black entrepreneurship,” Guzmán said in a hearth with Clark Atlanta School of Business Dean Sylvanas Udoka. said in a conversation.
“For us to be globally competitive and grow our economy, we need entrepreneurs who have faced the barriers of systemic racism to grow in business,” she said.
Credit: Mirta Donastorg
Credit: Mirta Donastorg
But even as the number of Black businesses in the country increases, the federal government still allocates a small portion of contract funding to Black and minority small businesses.
According to an analysis of federal statistics by the AJC, the most recent data available, approximately 9.6% of federal contracts in fiscal year 2022 (approximately $59 billion of the $615 billion in total contracts) were awarded to minority-owned small businesses. Ta. He said less than 1.6%, or $9.5 billion, of federal contract funding went to black-owned small businesses.
Audience members asked Guzman questions about the difficulty of obtaining government contract certifications and research grants from the SBA. Guzman said officials are working to streamline processes and roll out more training. She also noted that people in her Georgia SBA office may be able to help entrepreneurs take advantage of the agency's resources.
While at Clark Atlanta, Guzman also stopped by the school's Center for Innovation and Entrepreneurial Development (CIED). CIED is now a room where entrepreneurship classes are held and students have access to his 3D printers. However, Udoka said the center plans to expand into a larger space in the spring of 2025.
In addition to teaching entrepreneurship, the center also serves as a hub for Clark Atlanta's various other private equity, bank and federally sponsored entrepreneurship initiatives. These include Blackstone Launchpad, a regional hub for PNC and Howard University's National Center for Entrepreneurship, Operation Hope's 1 Million Black Enterprises Initiative, and the State Department's African Youth Leaders Initiative, Udoka said. Ta.
On Tuesday, Guzman spoke at the 2024 Small Business Conference in Atlanta held by the National 8(a) Association, a nonprofit organization for businesses participating in the SBA's Minority Business Development Program, known as the 8(a) Program. I plan to.
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