SECOND ANNUAL MINORTY BUSINESS ECONOMIC FORUM BRINGS NEXT WAVE OF CHANGE TO MIAMI
NMSDC forum’s goal to reach $1 trillion in annual certified MBE revenue.
Taking place along the picturesque coastline of Miami Beach, Florida, this spring marked the return of the National Minority Supplier Development Council’s (NMSDC) second Annual Minority Business Economic Forum. This year’s theme, Next Wave Of Change, breathed new energy into the conference that brought together nearly 500 of the nation’s most influential policymakers, academics, and business and community leaders, forming the vanguard in the next wave of the economic equity movement.
The three-day forum held at the W South Beach Miami featured some of the most innovative voices on the economic spectrum. Through collaborations and strategic partnerships, the forum has lofty goals to galvanize a vanguard of chief officers to amplify the impact and influence of minority business enterprises (MBEs) on the American economy, generate corporate spend and pledges toward $1 trillion in certified MBE revenue, spark actionable solutions to the critical challenges minority businesses face, including access to contracts, capital, and information, and forge pivotal relationships between Corporate Plus MBEs and key C-suite leadership. During the welcome reception, Ying McGuire, CEO and president of NMSDC, described some of the economic disparities between MBEs and non-minority-owned businesses and encouraged attendees to shift the tide. “As you listen to today’s speakers and have conversations with your colleagues, think about what you can do to ensure that MBEs are able to access the same opportunities that led to your success. If you are corporate leaders in the room, think about how your company can turn today and tomorrow’s conversation into action—whether that’s making multiyear pledges to increasing your spend with MBEs or increasing your support of NMSDC.”
Later that evening, attendees were transported by shuttle to a welcome dinner at Chef Marcus Samuelsson’s Michelin Bib Gourmand-awarded restaurant Red Rooster Overtown. Guests were treated to live music and comfort food celebrating the roots of American cuisine and the diverse culinary traditions of the neighborhood.
One of the highlights was a conversation between McGuire; MasTec, Inc. CEO Jose Mas; and Mayor Francis Suarez of Miami. Both Mas and Suarez expressed pride for the host city and shared stories of how their families cultivated better lives for themselves after immigrating to the United States. “It was an honor to bring this conference to a city that I think has been buoyed by the economy… It might have started with the Cuban immigration that came in the 1950s, but the reality is that it’s an incredibly diverse market that gives everyone the opportunity to succeed,” said Mas.
The morning sessions continued with conversations centered around creating generational wealth, finding solutions for minority businesses during uncertain times, and generating opportunities and wealth creation by leveraging strategic partnerships with minority business leaders. Later in the day, celebrity chef and TV personality Grace Ramirez presented a wine tasting and curated food experience under the palm trees of the W Hotel lawn.
The evening concluded as attendees were wowed with breathtaking views of the Miami skyline during golden hour at an NMSDC reception and dinner on the rooftop of 1111 Lincoln Road. During the event, this year’s Equity Honors awardees were announced. NMSDC’s latest awards program, The Equity Honors, recognizes chief corporate officers identified by their peers as staunch leaders at the forefront of economic equity and minority business integration. These awards reflect NMSDC’s strong belief that building a more equitable economy requires focusing on business diversity at all levels of corporate America.
To add to the excitement of the Forum, NMSDC and Barclays announced the official launch of the Capital Manager’s Program to assist capital providers and related services to more easily connect with MBEs to provide funds needed to grow and scale their businesses. It was also announced that NMSDC received a multiyear grant totaling $500,000 from the Blackstone Charitable Foundation to connect minority-owned businesses with major employers through its Corporate Plus program. “All too often MBEs are associated primarily with the small business community. While this may be true in many cases, Corporate Plus recognizes that there are also numerous large, minority-owned businesses that are primed to do business on a national and global scale,” said NMSDC Chief Growth Officer Sylvia Acosta, Ph.D.