Did you know that California is home to the most minority-owned businesses in the entire nation? (1.6 million, to be exact.) In Los Angeles County alone, 55% of businesses are led by minority business owners. If you have ever wanted to venture into business ownership in Los Angeles, it's a great time to start -especially if you're considered a minority. But where do you even begin?
We've compiled the following list of minority business development organizations in Los Angeles that can help you get started on the right foot, or even aid the growth of your current business endeavors.
Los Angeles Minority Business Development Organizations
1.) Asian Business League of Southern California
The Asian Business League of Southern California (ABL) is a non-profit organization that was founded in 1984. ABL's mission is to facilitate relationships and connect individuals and businesses to opportunities in both the local Pacific Rim and Asian American markets. ABL educates its members through community service opportunities and offering various programs throughout the year. Some annual events ABL sponsors include the ABL Real Estate Conference and the Annual Awards Dinner. The organization also hosts monthly networking mixers.
2.) Black Business Association of Los Angeles
The Black Business Association of Los Angeles advocates and advances the growth and development of the area's African-American owned businesses. The organization strengthens African-American communities by creating a nurturing and empowering economic base to support the ongoing success of these communities and society as a whole. The BBA helps minority-owned businesses readily access both capital and procurement opportunities.
3.) Latin Business Association
Established in 1976, the Latin Business Association (LBA) is one of the most active non-profit organizations of its kind. The LBA's mission is to build economic wealth and opportunity for Latino entrepreneurs and other disadvantaged business enterprises. LBA fulfills its goals by providing programs and services to enhance business growth and advancement for minorities. The organization also created the Latin Business Association-Institute (LBA-Institute) in 1998, which has helped to further their involvement in educational, research and economic development. The institute provides procurement funding and technical assistance, as well. Together, the LBA and LBA-Institute work to deliver events and programs that serve small- to medium-sized businesses and the local community.
4.) The MBDA Business Center - Los Angeles
The Minority Business Development Agency (MBDA) Business Center - Los Angeles builds strategic partnerships that increase opportunities for minority entrepreneurs. The center helps minority-owned businesses win contract awards and loans that total up to $100 million annually. The organization offers two locations that are funded by the U.S. Department of Commerce - Minority Business Development Agency - one at the University of Southern California and the other at City Hall in downtown Los Angeles. Through this unique partnership, the MBDA Business Center actively leverages both private sector partners and resources of public agencies.
5.) National Association of Women Business Owners - Los Angeles
The National Association of Women Business Owners - Los Angeles (NAWBO-LA) helps propel local women entrepreneurs into economic, social and political spheres of power. NAWBO-LA strengthens the wealth creating capacity of its members and promotes economic development opportunities by forming strategic alliances, transforming policy and creating innovative changes in business culture. NAWBO-LA works with the NAWBO-LA Foundation to accelerate women-owned business initiatives in Los Angeles and beyond. NAWBO-LA also hosts a variety of events throughout the year with topics ranging from personal branding, to networking mixers, and other valuable learning opportunities.
6.) PACE Business Development Center
The PACE Business Development Center (BDC) in Los Angeles is a non-profit 501(c)(3) community lender that promotes the growth and economic expansion of diverse Los Angeles communities through the infusion of capital, business consultation services and financial literacy training. The organization targets low- and moderate- income residents, entrepreneurs and business owners in Los Angeles County.With its diverse lineup of loan products, financial education, credit building education, and a streamlined network of other tools and resources, PACE's efforts help business owners to start businesses and even expand them. PACE also partners with several minority business organizations in Los Angeles to further their programming initiatives.
7.) Southern California Minority Supplier Development Council
The Southern California Minority Supplier Development Council (SCMSDC) is the largest non-profit minority business advocacy organization in the region. In fact, more than 600,000 Minority Business Enterprises (MBEs) are represented by the organization. The SCMSDC's mission is "to be the premiere organization strengthening economic ties between large, public-, private- and foreign-owned corporations and minority men- and women-owned business enterprises." The council focuses its efforts on offering nationally recognized ethnic-minority certification, providing strategic networking opportunities between corporate member procurement professionals, delivering development and educational programs, and much more.
Even though California has made significant strides in combating discrimination against minorities, workplace harassment and discrimination can still occur. If you feel you've been subjected to discrimination based on your national origin, race, or gender, contact the experienced Los Angeles employment attorneys at Hennig Ruiz for a free consultation today.