Scaling has become the new mandate for minority-owned businesses. While minority companies have grown significantly in number, too few have the scale and capacity needed in today’s global economy.
To build greater capacity firms must reach reach Stage III growth. Only 14% of the non-minority-owned firms have done so, 12% of Asians, 11% of Latinos and just 6% of black businesses.
The Small Business Administration Director is elevated to the President’s Cabinet , this is good news for Small and Minority Businesses.