One of the most successful developments of my Administration has been the
growth and strengthening of minority business. This is the first
Administration to put the issue on the policy agenda as a matter of major
importance. To implement the results of our early efforts in this field I
submitted legislation to Congress designed to further the development of
minority business.
We have reorganized the Office of Minority Business into the Minority
Business Development Administration in the Department of Commerce. MBDA has
already proven to be a major factor in assisting minority businesses to
achieve equitable competitive positions in the marketplace.
The Federal government's procurement from minority-owned firms has nearly
tripled since I took office. Federal deposits in minority-owned banks have
more than doubled and minority ownership of radio and television stations
has nearly doubled. The SBA administered 8(a) Pilot Program for procurement
with the Army proved to be successful and I recently expanded the number of
agencies involved to include NASA and the Departments of Energy and
Transportation.
I firmly believe the critical path to full freedom and equality for
America's minorities rests with the ability of minority communities to
participate competitively in the free enterprise system. I believe the
government has a fundamental responsibility to assist in the development of
minority business and I hope the progress made in the last four years will
continue.