Minority Business Development

Commerce Lexington Inc.’s Minority Business Development (MBD) program strives to promote and sustain the economic growth, development and self-sufficiency of minority business owners and entrepreneurs; recruit minority-owned businesses into the seven-county Lexington MSA and Commerce Lexington, Inc.; and provide business referral services to the appropriate minority business assistance agencies. For the most up-to-date listings of minority and women-owned businesses in the Lexington area, please contact Tyrone Tyra at 859-226-1625.

Definition

A minority business enterprise, as defined by Commerce Lexington Inc., is a business that is 51-percent owned, operated, and controlled by a person who is a member of the following racial and ethnic groups:

African American
(An individual of African culture, origin or parentage)
Hispanic American
(An individual of Latin American culture, origin or parentage)
Asian American
(An individual of Japanese, Korean, Chinese, Indonesian, Indochinan, Malaysian, Fillipino, native Hawaiian or other Pacific island culture, origin or parentage)

 

 

Minority Business Development At-A-Glance

MBD implements a variety of actions to promote the growth of minority businesses, such as:

• Fostering strategic partnerships between majority companies and minority-owned small businesses.

• Assisting in the acceleration of establishing and expanding businesses through Commerce Lexington’s Access Loan Program, which has approved over $15.8 million in loans since its inception in 2001.

• Working with existing organizations to develop strategies to grow the number of MBEs in Central Kentucky. CLX-Urban League Economic Inclusion Plan

• Hosting seminars and workshops throughout the year.

• Publishing a Minority Business Directory – the only one of its kind in the Bluegrass, which  helps companies meet their minority vendor usage goals.

• Providing a forum for an exchange of ideas at its Economic Roundtable discussions.

• Arranging network opportunities at Opportunity Exchange Receptions and the Minority Business Trade Show.

• Enhancing the visibility of Commerce Lexington’s minority members through its annual Minority Business of the Year Award program.
 

News & Notes

2016 Minority Business of the Year - A Cup of Common Wealth (below)

   



Spring Opportunity Exchange