William “Bill” J. Moon will be the keynote speaker for the second annual Minority Business Enterprise (MBE) Summit hosted by the Arizona Hispanic Chamber of Commerce (AZHCC).
The MBE Summit will be held on Nov. 15, 8 to 10 a.m., at the Arizona Biltmore Resort in Phoenix. Registration and a mini business expo begin at 7 a.m.
He is also chairman of the Billion Dollar Roundtable (BDR), “a non-profit international organization dedicated to expanding the participation and advancement of minority- and women-owned businesses providing supplies for larger companies.” There are 18 corporations that are currently members of the BDR.
At the summit, the AZHCC will also recognize its own “round table.” The Arizona Million Dollar Circle of Excellence designation will be given to companies doing $1 million in business or more with minority- or women-owned businesses. The summit will also feature the release of two new reports about “family-owned small businesses and best practices in supplier diversity.”
“This is only the second year for the MBE Summit, but it’s fast becoming a fixture on the state’s business landscape,” said Gonzalo A. de la Melena Jr., President and CEO of the Arizona Hispanic Chamber of Commerce in a release to Latino Post. “Arizona Hispanics may constitute the largest share of minority-owned businesses, but we’ve created this event because we understand the growing overall importance of minority- and women-owned companies in our economy. The Summit is designed to highlight that very real trend.”
The AZHCC will release two new reports at the event: the Family-owned Business Enterprises Report and the Supplier Diversity Best Practices White Paper.
According to a release from the AZHCC, the Family-Owned Business Enterprise Report will disclose that 56 percent of minority-owned businesses are family-owned, are slightly smaller in terms of median revenue in 2011 ($197,600) as compared to minority-owned businesses that are not family-owned ($227,000), and are more likely to be home-based (49 percent vs. 38percent not family-owned) and women-owned businesses (41 percent vs. 32 percent not family-owned).
“Given the state of Arizona’s rapid economic recovery and the growing role of minority entrepreneurs, understanding how minority family-owned businesses are faring and how they feel about the future is integral to planning our economy,” de la Melena said.
These reports are part of the Arizona Business Research Series commissioned by the Arizona Hispanic Chamber of Commerce and the Phoenix MBDA Business Center.
A roundtable discussion, moderated by Nora Neibergall of the Institute of Supply Management, will accompany the release of the Supplier Diversity Best Practices White Paper to review the practices researched in the paper. The panelists will include; Michael Garcia of Boeing, Frantz Tiffeau of Nationwide Insurance, Jesus Borboa of APS and Lorena Valencia of Reliance Wire.
“The report address common challenges faced by companies seeking to diversify their supply chains, such as: fostering support among management; having the purchasing division embrace supplier diversity; developing a qualified and diverse bidder pool; and making sure diverse spending flows down,” read a release from the AZHCC.
In September, the Chamber also released its annual DATOS: The State of Arizona’s Hispanic Market, a detailed analysis of consumer and demographic trends in Arizona’s Hispanic community. On November 21, the Chamber will release DATOS: Tucson.
The winners of the Phoenix MBDA Center Awards will also be announced at the MBE Summit. The center provides counseling to mid-sized, minority-owned firms for growth and profitability. The awards recognize outstanding achievements of minority entrepreneurs, as well as individuals and organizations, who have demonstrated leadership and commitment in advancing minority business enterprises.
Local winners are eligible to be nominated to receive regional and national MBDA awards.
“Arizona is home to an estimated 100,000-plus minority-owned business enterprises, two-thirds of which are Hispanic-owned, contributing billions annually in revenue to the state’s economy,” read a release from the AZHCC. “Notably, the already substantial impact of minority-owned businesses is growing at a phenomenal rate. The number of businesses owned by Hispanic women, for instance, are growing three to four times the national average of non-Hispanic-owned firms. Hispanic-owned businesses are expanding at a rate two to three times the national average, while Asian-American-owned companies are recording historic growth as well.”
Originally published at The Latino Post.