Cash Stuck in Clunkers Traffic Jam

[...]last week’s conference, entrepreneurs were given one-on-one and group opportunities to learn about government, traditional and alternative sources of financing. To help assist small business owners with the process, the government recently established a $20 million bonding fee reimbursement program that small business owners can use to apply for reimbursement of bonding premiums and fees required to compete for or perform on transportation infrastructure projects funded by the American Recovery and Reinvestment Act, announced Jerry Franco, a chief of the DOT ‘s procurement assistance division. The goal is to help firms that traditionally have less working capital than large contractors participate in the Recovery Act’s investment in transportation infrastructure projects and the funds must be spent by September 2010. DIVTeamworkHandsSeveral weeks ago, the Minority Business Development Agency (MBDA) hosted a summit where stakeholders made recommendations on how to improve minority business programs, overcome legal challenges to those programs, advocate effectively on businesses’ behalf, and help entrepreneurs address emerging markets. Some of the common themes that emerged, that MBDA will use as a blueprint to develop economic parity for minority businesses, include building a record of evidence of discrimination and barriers to be entered into congressional and legislative records; streamlining the certification process for minority businesses; implementing partnerships with colleges and universities to teach entrepreneurship programs; providing training access to capital and other resources to a group of 10 business owners in each state to help them enter emerging markets; and training minority entrepreneurs in advocacy at the federal, state and local levels.