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.
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 $24 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.
RACIAL EQUITY PLEDGE
Commerce Lexington Inc.’s Racial Equity Pledge challenges the region’s business community to build a more inclusive economy based on equal opportunity and advancing racial equity. By signing this pledge, we commit to pursuing inclusivity and equality for underrepresented and marginalized community groups and agree to increase efforts and transparency around conscious efforts to attack poverty, narrow the racial wealth gap, and increase equity for area residents.
We recognize that living up to this pledge requires a necessary and comprehensive overhaul of the status quo, however, we are ready to seize the opportunity to create sustainable solutions over a multi-year horizon that will position Commerce Lexington Inc. as a leader in this work.
Signing this pledge is an agreement to pursue change intentionally and consistently within our business and the broader community. As business leaders, our time in history is now and our action matters, now more than ever. We pledge to make a difference by working toward minority business economic inclusion and actively supporting underrepresented and marginalized businesses and talent.
If your organization is interested in signing the Commerce Lexington Inc. Racial Equity Pledge, please contact Tyrone Tyra at firstname.lastname@example.org.
NEWS & PHOTOS
2022 Fall Opportunity Exchange – September 22, 2022
Commerce Lexington’s Fall Opportunity Exchange event presented by Equity Solutions Group on Thursday, September 22, from 4:30 – 6:30 p.m. at The Campbell House, 1375 S. Broadway, will feature great networking, exchange of ideas, and interaction for minority-owned and small businesses in the Lexington region. The event also connects minority business owners with procurement representatives from some of the largest companies in the region. This Opportunity Exchange will feature Carl Satterwhite, who is the President/Owner of RCF Group. RCF Group focuses on providing tailored and comprehensive workplace solutions, gaining insight through listening sessions to understand your business culture, needs and challenges. To register, click here.
2022 Minority Business Award
Commerce Lexington’s Salute to Small Business presented by Forcht Bank was held at The Campbell House, Curio Collection by Hilton on August 26, 2022. Congratulations to this year’s recipient of the Minority Business Award, Everett Bracken, Chairman of VOLO Careers International. Established in 1997, VOLO Careers International specializes in senior-level women recruitment (and high-potential men too) – Board, CEO, and C-Suite – across thirty industries, including aerospace and defense, higher education, and medical devices within sixty-two countries worldwide. As a certified Service-Disabled Veteran-Owned and Minority-Owned Business, VOLO has completed projects around the world all while being based in Lexington.
Spring 2022 Opportunity Exchange