However, in all the billions that are currently being debated in the Minnesota House and Senate, such as the recently approved construction bonding bill valued at almost a billion dollars, there is hardly a whisper how such massive state spending can help build our economic base in
If you were a venture capital investor – would you invest in minority and immigrant businesses ? Ask the nationally know Kaufman foundation: In a recent report, MINORITIES AND VENTURE CAPITAL: A New Wave in American Business, “Taken together, 117 investments tracked by Bates and Bradford from the 24 MBE-targeted venture capital funds surpassed a 20 percent rate of return. During that same time period, according to industry analysts, the S&P 500 Index had a 17 percent return. Furthermore, Venture Economics (VE) and the National Venture Capital Association derive a Private Equity Performance index. VE tracks the performance of over 1,400
If private capital can do it why cannot public funded projects take the cue?
Some of the major benefits that come with the growth of minority businesses enterprises are revitalization of both the low income neighborhoods as well as the high tech corridors. There is documented evidence to show that minority firms hire minority and other local people, buy supplies from local businesses, pay rent and local taxes, invest in their communities and serve as positive role models. In many instances, owning a business is an effective way for new immigrants to achieve the American dream.
The minority economic base is an estimated 11 billion dollars in consumer power according to the
If our policy leaders rise up to the challenge we will have a strong and diverse economy in
Bruce P. Corrie, PhD