The Hispanic American community is deeply rooted in the history of the United States and are an integral part of the rich fabric of our nation. True to their mission of creating the conditions for economic growth and opportunity — for all Americans — the Commerce Department works every day to support and invest in the Hispanic business community to create jobs and promote economic growth.
Over our nation’s history, the Hispanic American community in general, and the Hispanic American business community in particular, has provided invaluable contributions that have enriched America’s economy and overall society. With the number of Hispanic Americans increasing as a share of the United States’ overall population, the country can look forward to even more contributions from this vital community.
Many Commerce Department agencies offer a wide range of services to help U.S.-based companies, entrepreneurs, innovators and minority and women-owned businesses compete and be successful while strengthening the United States’ role as a global leader.
Below are a list of services and resources ranging from demographic data, grant opportunities, assistance with exporting as well as valuable resources for Hispanic American innovators, entrepreneurs and minority-owned businesses.
- The Minority Business Development Agency (MBDA) is the only federal agency solely dedicated to the growth and global competitiveness of minority business enterprises. Hispanic and other minority-owned firms seeking to penetrate new markets — domestic & global —can access business experts at a MBDA Business Center where they can seek guidance, information on funding and access other resources. The Centers are in areas with the largest concentration of minority populations and the largest number of minority businesses.
- The U.S. Census Bureau conducts various economic and business surveys and produces valuable data for the Hispanic community and minority-owned businesses including detailed statistics that are essential to help small businesses succeed and grow. The U.S Census Bureau also offers the Census Business Builder (CBB), a suite of services that provide selected demographic and economic data from the Census Bureau tailored to specific types of users in a simple to access and use format. In particular, they offer the Small Business Edition for small business owners who need key data for their business plan or to better understand their potential market.
- The Economic Development Administration (EDA) provides economic development assistance programs to help communities build back better. With $3 billion in funding from the American Rescue Plan, EDA will implement a series of six programs, collectively called Investing in America’s Communities, to equitably invest in and help communities across the country build back better. Through the Indigenous Communities program, EDA is allocating $100 million in American Rescue Plan funding specifically for Indigenous communities, which were disproportionately impacted by the pandemic.
- The International Trade Administration (ITA) provides resources and customized services for businesses and minority-owned businesses currently participating in exporting and services to businesses and minority-owned businesses that are new to exporting that include online resources in planning an export strategy, choosing the best markets for your product and evaluating potential foreign business partners in advance.
- The U.S. Patent and Trademark Office (USPTO) offers a hub for resources and information for inventors, entrepreneurs, and small and minority-owned businesses. Through this hub, they offer access to a variety of products and services including how to protect your idea or product, how to search existing patents and trademarks and how to apply for a patent or trademark.
- NOAA’s José E. Serrano Educational Partnership Program with Minority Serving Institutions (EPP/MSI) supports the training and graduation of students in NOAA mission disciplines at minority serving institutions. The EPP/MSI Undergraduate Scholarship Program supports students directly through awards to successful applicants who attend MSIs. Cooperative Science Centers funded by the program and led by MSIs support post-secondary students and increase education and research capacity at MSIs in NOAA mission fields. NOAA also provides a small business hub, with the goal of creating an environment for optimal participation by small businesses, small disadvantaged businesses, HUBZone, Veteran Owned SB and SDVOSB and woman-owned businesses in NOAA contract awards.
- The National Telecommunications and Information Administration’s (NTIA) is directing $268 million to HBCUs, Hispanic-Serving Institutions and other minority-serving organizations through the Connecting Minority Communities Pilot Program The grants can be used for purchasing broadband internet access service and eligible equipment, or to hire and train information technology personnel.
- Commerce Grants and Funding Opportunities: This site offers a one-stop shop to search for all open grant opportunities at all Commerce bureaus. In addition, various Commerce agencies offer grant and Federal contracting opportunities, including resources for contractors through the Office of Small and Disadvantage Business Utilization (OSDBU).
Additional government tools and resources for businesses, entrepreneurs and minority and women-owned businesses can also be found at www.sba.gov.
Source: Commerce.gov
