Minority Enterprise Development Week


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This week many people across the nation will be celebrating National Minority Enterprise Development Week. The National Minority Enterprise Development Week, or MED is the largest federally sponsored event for minority enterprise. The event was started by President Reagan in 1983 as a means of promoting minority business development. Since then, cities across America have initiated networking events and promotions for minority owned businesses. Small businesses in the area hold activities such as workshops and luncheons, and even encourage registered vendors to offer their services at a discounted rate in order to increase the volume of business in their particular industry.
To be considered as a minority owned business, the business must be 51% minority or female owned. By federal statute, the government defines a minority as: Black, Hispanic, Asian, American Indian, or Female. Events during the MED include networking events, business to business matchmaking, business recognition ceremonies, and marketplace promotions. Events across the nation vary from city to city, which a major celebration held in Washington DC to commemorate the event. This December will mark the 30th Anniversary celebration in the Nation’s Capital with workshops, reception, and networking opportunities.
To find out more information on activities going on in your city, contact your local Chamber of Commerce or City Government web page.