Lack of capital is one of the primary reasons that small businesses flounder. For new businesses, working capital bridges the gap to keep operations running smoothly and the bills paid on time. For established businesses, capital is a lifeline for expansion, allowing businesses to hire new employees, open new stores, and upgrade technology and equipment.
The U.S. Department of Commerce’s Minority Business Development Agency (MBDA) increased its efforts last spring to bolster its support of minority business owners with a grant competition, and it reported record job creation for those businesses for fiscal year 2012. The MBDA’s good work in that arena was highlighted once more after a record-setting fiscal […]
