Legal Definitions - Minority Business Development Agency

The Minority Business Development Agency (MBDA) is a part of the U.S. Department of Commerce. Its main responsibility is to create and manage a national program that supports minority-owned businesses.

For example, if a person from a minority group wants to start a business, they can turn to the MBDA for help. The agency provides resources and assistance to help these entrepreneurs succeed. This can include things like training, access to funding, and networking opportunities.

The MBDA is important because it helps to promote diversity and inclusion in the business world. By supporting minority-owned businesses, the agency helps to create jobs and boost economic growth in communities that may have been historically marginalized.