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The Importance of Supporting Minority Owned Businesses
Updated: Oct 3, 2023
Minority owned businesses (MOBs) are essential to the American economy. They create jobs, generate revenue, and help to build strong communities. However, MOBs face many challenges, including discrimination, lack of access to capital, and limited networks.
Women are a significant part of the MOB community. According to the U.S. Census Bureau, women own 16% of all businesses in the United States. However, women-owned businesses are more likely to be small businesses, and they tend to have lower revenues than male-owned businesses.
There are many reasons to support MOBs. First, MOBs create jobs. According to a study by the National Minority Supplier Development Council, MOBs employ over 12 million people in the United States. Second, MOBs generate revenue. In 2018, MOBs generated $1.5 trillion in revenue. Third, MOBs help to build strong communities. MOBs are more likely to locate in underserved communities, and they are more likely to hire from those communities.
There are many ways to support MOBs. You can:
Buy from MOBs. When you buy from a MOB, you are helping to create jobs, generate revenue, and build strong communities.
Get involved in your local MOB community. There are many ways to get involved in your local MOB community. You can volunteer your time, donate to MOB organizations, or attend MOB events.
Advocate for policies that support MOBs. There are many policies that can help MOBs succeed. You can advocate for policies that provide MOBs with access to capital, training, and markets.
The Illinois Hispanic Chamber of Commerce (IHCC) is a great resource for women entrepreneurs and business owners. The chamber offers a variety of services, including:
Business development resources: The IHCC offers business development resources, such as market research, financial planning, and marketing assistance.
Networking opportunities: The IHCC offers networking opportunities with other Hispanic entrepreneurs and business owners.
Advocacy on behalf of Hispanic businesses: The IHCC's government relations team advocates on behalf of Hispanic businesses.
Education and training programs: The IHCC offers education and training programs on topics such as business management, marketing, and finance.
One example of a woman-owned and operated MOB that is a member of the IHCC is Motr Grafx. Motr Grafx is a printing company in the Chicago area that was founded in 2003 by Delia Saboya, who is a Hispanic woman. The company specializes in custom design and printing, and they have a team of experienced designers and printers who can help you create a product that meets your needs.
Motr Grafx is committed to supporting the IHCC's mission of empowering Hispanic entrepreneurs and businesses to grow and succeed. The company believes that by supporting the IHCC, they are helping to create a more inclusive and prosperous community.
If you are looking for a printing company that is committed to diversity and social responsibility, consider working with Motr Grafx. You will be supporting a growing business that is making a positive impact on the community.
You can learn more about the IHCC and its services at https://ihccbusiness.net/.
Thank you for considering supporting MOBs. Your support is essential to the success of these businesses and the communities they serve.
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