The Black Institute released a report today that revealed the plethora of barriers obstructing the minority and women business enterprise (M/WBE) and how it continues to stifle competition, diversity, and equal opportunity.
When a city awards almost $690 million in M/WBE contracts and only a fraction of the city contracts have gone to minority and women owned businesses (a mere 4 percent of the city’s contracts were actually awarded to them), then it is time to ask questions and demand answers.
Minority and Women Entrepreneurs (M/WBE) are key drivers to our economy. In a time when our population is undergoing a significant demographic transition that is already reshaping our country, we need to ensure that M/WBEs are fairly represented.
LATISM has long championed the importance of competition, diversity, and equal opportunity especially with women and minority business owners. We, at LATISM, believe there must be robust M/WBE participation and programs in place to encourage competition from smaller entrepreneurs.
We applaud the work of The Black Institute for raising the curtain on disparities that continue to plague our community. We need to promote transparency and ensure that programs work according to its intent which is to serve businesses that are truly disadvantaged. Let’s level the playing field and ensure programs actually foster equity and have economic growth potential.
LATISM is committed to advancing the social, civic, and economic status of the Latino community by addressing the most far-reaching issues that affect the Latino community, and creating incubators of opportunity for them flourish.
About The Black Institute
The mission of The Black Institute is to shape intellectual discourse and dialogue and impact public policy uniquely from a Black perspective (a perspective which includes all people of color in the United States and throughout the Diaspora).