Can Minority Business Wait 100 Years to Achieve Economic Parity?
ATLANTA, GA, UNITED STATES, September 16, 2021 /EINPresswire.com/ — The Georgia Minority Supplier Development Council (GMSDC) will issue an update to its landmark study – The State of Minority Business – A National Discussion – during the Minority Business Opportunity Week (MBOW) celebration on September 20 – 24, 2021. MBOW is a weeklong commemoration of the accomplishments of the minority business community in Georgia, to recognize their contributions to the state’s history, culture and economy. The presentation is scheduled for Tuesday, September 22nd at 10:00 am. After a live presentation of the updated study, there will be a panel discussion of key takeaways from the State of Minority Business report.
First commissioned in 2011 to take a snapshot of minority business development on a national scale, the study has been updated every two years to incorporate new data and economic conditions. This year’s edition is especially critical in light of the Covid–19 pandemic, the subsequent economic contraction and the impact it has had on the minority business community.
Stacey Key, the President and CEO of the GMSDC, sees the Minority Business Opportunity Week as the perfect platform for sharing this vital information with the business community. “The information these studies have uncovered is required reading for corporate America,” says Key. “The minority business sector was growing pre-pandemic but must now recalibrate due to the pandemic economy. At the current pace of progress, it would take minority businesses 100 years to achieve economic parity. This research illuminates a new, accelerated pathway to parity if the business community were to increase its diverse spend by only 1% per year. These critical recommendations can be gamechangers for minority business.”
Alongside the State of Minority Business update, the GMSDC will also release two further studies focused on minority business – a detailed analysis of the state of minority business in Georgia and a minority business economic impact study. Through the release of the update to the State of Minority Business study and the other two comprehensive studies, the goal is to present to the business community all of the strategic information and market trend data available, so that informed strategic decisions can be made by all parties. This kind of deep-dive analysis will enable the GMSDC to more effectively fulfill its mission, which is to help minority businesses not just survive but thrive.
For more information on the MBOW activities or to register for the State of Minority Business – A National Discussion presentation, please click here.
About the GMSDC
The Georgia Minority Supplier Development Council, Inc. (GMSDC), is a 46-year-old not-for-profit organization that fosters value-driven partnerships that may otherwise not be possible between corporate entities, ethnic minority-owned businesses and government entities in the state of Georgia. With over 400 national and local corporate members and nearly 900 certified minority business enterprises, the GMSDC is the leader in supplier diversity and minority business development in Georgia. The GMSDC is headquartered in Atlanta and is an affiliate of National Minority Supplier Development Council. For more information, call 404-589-4929 or visit www.gmsdc.org.