Ny Mwbe Firms Cash in On New State Mwbe Program

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Michael Jones-Bey, executive director for the state's Minority and Women's Business Development program, addressed the firms in attendance, saying, "This capital access forum is just part of Governor Spitzer and Lt. Governor Paterson's overall commitment to addressing the many challenges faced by New York minority- and women-owned businesses. To expand, it is critical that minority- and women-owned businesses gain access to not only debt financing, but also to the equity markets. The average venture-backed company employs nearly 100 workers within five years and creates almost twice as many jobs as their non-venture-backed peers. Venture-backed firms experience at least a 40 percent job growth each year, as compared to a 2.5 percent decline in jobs for Fortune 500 companies."

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Ny Mwbe Firms Cash in On New State Mwbe Program

In a major effort to encourage the growth of New York State minority and women business enterprises (MWBEs) firms, the New York State Division of Minority and Women's Business Development co-sponsored a...

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