SBDC MWBE PROGRAM

Bank of America Sponsors SBDC MWBE Program

Stony Brook University SBDC

Suffolk County Hispanic Business Strategies program offers training for minority and/or women-owned business enterprise (MWBE) certification

SUFFOLK COUNTY, NEW YORK, USA, December 14, 2021 /EINPresswire.com/ -- Stony Brook Small Business Development Center Receives Grant from Bank of America for Hispanic Business Owners Training and Resources
Suffolk County Hispanic Business Strategies program offers training for minority and/or women-owned business enterprise (MWBE) certification and contract sourcing

Today, Stony Brook Small Business Development Center (SBDC) announced it has received a grant from Bank of America for the Hispanic Business Strategies, a program that supports the economic mobility and sustainable growth of local Hispanic- and Latino-owned businesses. Through education and application assistance, participating businesses will pursue certification as a minority and/or women-owned business enterprise (MWBE) and guidance in leveraging the many benefits, including access to local, state, and federal contacts.

Small and medium-sized businesses play a critical role in driving our economies forward, therefore, providing tools and support is vital for the development and sustainability of Long Island. The Hispanic/Latino community comprises of 20 percent of Suffolk County residence; however, business ownership is disproportionately low. The Hispanic Business Strategies program seeks to aid in the success of existing businesses and spur further entrepreneurial activity.

The program will be in Spanish, the native language of the target audience, and will include three phases of assistance. It starts by highlighting the opportunities and advantages of being a certified minority and/or women-owned business, followed by hands-on, one-on-one assistance in the certification application. The program concludes with contract sourcing and bid proposal training on the best practices to obtain prime contractor or government contracts. The first session begins on January 11, 2022.

“At Bank of America, we are committed to helping to advancing racial equality and economic opportunity, with a particular focus on helping create opportunities for people and communities of color,” said Marc Perez, President of Bank of America Long Island. “The Hispanic-Latino population on Long Island continues to grow, playing a significant role in shaping the progress of our communities and local economy. Our partnership with the Stony Brook Small Business Development Center aims to empower Hispanic business owners to grow and thrive.”

"New York is a national leader when it comes to working with MWBEs to help ensure that talented business leaders from across our state can bring their unique and valuable perspectives into our projects," Governor Hochul said in a press release dated September 27, 2021. "Our diversity is our strength, and by utilizing the special skills of women and people of color in what we do, we are making our economy more inclusive and more robust. I am more committed than ever to leveling the playing field so that women- and minority-owned businesses have increased access to State contracts.”

SBDC strategic partners for this program include Hispanic- and Minority -based Civic and Economic Development organizations, Chambers of Commerce, Consulates, and libraries in underserved communities, as well as specific strategic partners inside the Stony Brook University community such as the MWBE Procurement Office and the Manufacturing Technology Resource Consortium (MTRC).

The SBDC has a long history of providing business development resources to underserved communities through small business administration programs such as 8(a), HubZone, and MWBE certifications. SBDC's resources help disadvantaged businesses access federal contracting dollars, facilitate operations for those working in Historically Under-utilized Business Zones (HubZones), and level the playing field for the underrepresented, economically disadvantaged, and women business owners.

Please visit our website for more information and to register for the January 11th virtual Program Launch:
Stony Brook Small Business Development Center En español website
WMBE Certification Bootcamp Program Launch Registration Link

Bank of America
At Bank of America, we’re guided by a common purpose to help make financial lives better, through the power of every connection. We’re delivering on this through responsible growth with a focus on our environmental, social, and governance (ESG) leadership. ESG is embedded across our eight lines of business and reflects how we help fuel the global economy, build trust and credibility, and represent a company that people want to work for, invest in and do business with. It’s demonstrated in the inclusive and supportive workplace we create for our employees, the responsible products and services we offer our clients, and the impact we make around the world in helping local economies thrive. An important part of this work is forming strong partnerships with nonprofits and advocacy groups, such as community, consumer, and environmental organizations, to bring together our collective networks and expertise to achieve greater impact. Learn more at about.bankofamerica.com, and connect with us on Twitter (@BofA_News).

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www.bankofamerica.com

Martha Stansbury
Stony Brook Small Business Development Center
+1 631-632-9837
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