Updated: May 26, 2020
The concept of classifying a minority or women-owned business stems from an executive order issued in 1969 by President Nixon. (Yeah, we were surprised too). In it, he established what is currently known as the Minority Business Development Agency recognizing the impact of minority and women-owned businesses on the nation’s economy and on the general welfare of the country.
However, MWBE’s do more than just strengthen the economy, they teach young black and brown children about entrepreneurship and socio-economic development. Seeing someone who looks like you reach for the American Dream, hold it tight, and build a better life, can give children the confidence that they too can achieve their own dreams.