Solutions to Be Discussed at National Black Chamber of Commerce Annual Conference, A More Dynamic Economy
WASHINGTON, DC, UNITED STATES, July 2, 2018 /EINPresswire.com/ — “Black businesses have been decimated by lack of federal procurement contracting opportunities,” says Harry C. Alford, president and CEO of the National Black Chamber of Commerce (NBCC). The federal government is the biggest potential customer to American business. If Black owned businesses are to develop a major business client base it will be the federal government with all of its agencies. The numbers are kept by the General Services Administration’s Federal Procurement Data Systems. They count every procurement dollar by race, gender, economic level, disabilities, veterans, and other categories.
In the year 2001, the George W. Bush Administration came in power and under his two administrations Black business procurement started growing at a steady rate. By 2008 Black businesses were at nearly 8% participation at the federal level. The growth meant hundreds of billions of dollars into the Black community replete with new employment.
Businesses have fallen from 8% Black participation in the Bush Administration to the following after President Obama’s years: Fiscal Year 2016: Blacks accounted for 1.8% percent of the total federal spend. Fiscal Year 2017: Blacks accounted for 1.8% percent of the total federal spend. Fiscal Year 2018 to date (June 22, 2018) Blacks accounted for 1.6%. (Fiscal years are from October 1 – through September 30. Fiscal year 2018 will end this September 30.)
One glaring example of the decimation is Housing and Urban Development (HUD) which did over 30% with Black businesses during the Bush Administration and dramatically dropped to 1.4% in 2017. “We are planning to work with Federal Agencies to turn this situation around” says Alford.
Solutions to increase federal procurement levels will be discussed at the National Black Chamber of Commerce’s 26th annual conference, A More Dynamic Economy – How to Transfer Our Analogue Economy with 21st Century Solutions. The conference will take place in Washington, DC July 19-21, 2018. Other discussions include Project Labor Agreements, economic empowerment through the church, future infrastructure projects and 5G wireless deployment. For more information go to http://bit.ly/DynamicEconomy.
About the organization
The National Black Chamber of Commerce® is dedicated to economically empowering and sustaining African American communities through entrepreneurship and capitalistic activity within the United States and via interaction with the Black Diaspora.
National Black Chamber of Comm
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Source: EIN Presswire