A new report on the growth and development of minority-owned businesses in the city is out. Keep reading for all the details.
The Cincinnati USA Regional Chamber has a group dedicated to accelerating and developing minority businesses in the city through its Minority Business Accelerator.
The Minority Business Accelerator has a goal to help expand the minority entrepreneurial community in the region by helping to accelerate the growth and development of sizable African-American and Hispanic owned businesses.
The Minority Business Accelerator does this by providing individually-tailored advisory support and docaching to help Minority Business Enterprises to obtain what they need to be successful while also acting as an extension of another program to connect them with MBE Portfolio Firms.
Since its inception in 2003, the Minority Business Accelerator has worked to address disparity in the region’s business community to drive economic activity and increase employment in underemployed segments.
Because the Chamber has a goal of growing the aggregate annual revenues of minority businesses in the region by $1 billion and creating 3,500 jobs by the end of 2022, they want to offer a yearly update on its Minority Business Accelerator with an annual report.
“This bold vision and plan have galvanized regional and national stakeholders desiring to partner with us to not only accomplish something transformational for Greater Cincinnati, but something that might truly inform and transform this work across the nation,” says Cynthia Booth, Minority Business Accelerator Board Chair. “Our four key pillars to achieve these bold goals, which are to grow our existing portfolio firms, build a robust pipeline, attract larger-scale minority firms to the region, and create new minority firms via acquisition of mainstream businesses, have each enjoyed major developments over the past year, and have collectively served to further elevate and position the Minority Business Accelerator as a national best practice.”
To learn more about the Minority Business Accelerator at the Chamber, click here.