Fifteen corporations and nonprofits that do tens of millions in contracts with minority-owned companies in Arizona, and the release of a detailed new, post-recession survey of minority-owned business will be among the highlights of the 2012 Minority Business Enterprise Summit in downtown Phoenix Friday.
The 2012 Minority Business Enterprise Summit was organized by the Arizona Hispanic Chamber of Commerce and Phoenix MBDA Business Center . The event takes place Nov. 16, 2012, 10 a.m.-1 p.m., at Renaissance Hotel Downtown, 50 East Adams Street in Phoenix.
“The summit speaks to the growing influence of minority-owned businesses in Arizona and the historic demographic shift that’s helping reshape the economy of our state and our nation,” said Gonzalo de la Melena, president and CEO of the Arizona Hispanic Chamber of Commerce, which operates the federally-funded Phoenix MBDA Business Center.
MBE summit highlights include:
* The release of the 2012 Minority Business Enterprise Report (the first-of-its-kind since 2007) regarding the state of minority-owned businesses in Arizona.
* Inaugural inductions into the Arizona Million Dollar Circle of Excellence: Leading the Way in Supplier Diversity recognizing corporations and non-profits that do at least $1 million in business with minority- and women-owned companies in Arizona.
* The annual presentation of the Minority Enterprise Development Awards.
The 2012 MBE Report will be released during a Friday morning presentation starting at 10 a.m. The report was conducted by Westgroup Research and designed to serve as a resource for businesses, organizations, educators, government agencies and individuals who want to help Arizona MBEs succeed.
The report’s findings include:
* About 78% of the MBEs in Arizona have less than 10 employees.
* Nearly one-quarter of MBEs did not feel they were treated with respect when applying for a loan.
* Among survey participants, the median gross revenue in 2011 was $215,000 with a median staff size of four employees.
* Minority business owners are optimistic about the future — 63% feel their financial situation will improve in the next 12 months.
During the Summit’s Friday luncheon, 15 companies and governmental organizations will be inducted in the Arizona Million Dollar Circle of Excellence. AZHCC President De la Melena said the this initiative breaks new ground by recognizing major corporations and governmental entities that directly spend at least $1 million purchasing goods or services from minority-owned and women-owned businesses in Arizona. Several of the companies individually spend tens of millions annually contracting with minority- and women-owned firms. The project also is intended to promote and share best practices regarding supply-chain diversity, said de la Melena.
The AZ Million Dollar Circle of Excellence is co-chaired by Donald E. Brandt, Chairman & Chief Executive Officer of Arizona Public Service, and Lorena Valencia, President/CEO, Reliance Wire & Cable and a member of the Arizona Hispanic Chamber of Commerce board of directors. Arizona Public Service is a major purchaser of good and services from minority- and women-owned companies and the presenting sponsor for the summit and the 2012 MBE Report.
“Our state is rapidly becoming a national leader for diverse business supplier programs,” said APS’s Brandt, whose company has spent about $1.5 billion with women- and minority-owned businesses since 1992. “All of Arizona benefits from the jobs that are created and the resulting competition that leads to better goods and services. For our state to achieve its full economic potential, Arizona businesses must continue to seek out qualified diverse suppliers, hire them and put them in a position to succeed.”
De la Melena added, “The induction of the inaugural members of Arizona Million Dollar Circle of Excellence is our way of recognizing companies that are doing the right thing by ensuring they have diverse supply chain.”
The MBE Summit luncheon will also honor the winners of the annual Minority Enterprise Development Week Awards which recognize the achievements of minority-owned companies in the Southwest.
MINORITY CONSTRUCTION FIRM OF THE YEAR, Fortis Networks, Inc., Reyna & Clarence McAllister
MINORITY TECHNOLOGY FIRM OF THE YEAR, 360 Vantage, Mario Martinez
MINORITY FIRM OF THE YEAR, Technology Integration Group, Ying McGuire
ACCESS TO CAPITAL AWARD, Prestamos CDFI LLC