“We believe that most entrepreneurs are born… and then made better,” said Farad Ali, president and CEO of The Institute. “Whether someone is starting a business or expanding a business, The Institute has a program or service in place that can assist in honing their skill set and enhancing their opportunities for success. Our role in this space is to support minority-owned firms as they contribute to the U.S. economy, strengthen local communities, and support greater job creation.”
Writer Jason Daley shared the following statement in an article on Entrepreneur.com: In the past five years, multiple studies have indicated that there may be an “entrepreneur gene”—or at least that people with certain genetic characteristics and personality traits are more likely to be successful entrepreneurs than others. In his 2010 book Born Entrepreneurs, Born Leaders, Scott Shane, professor of entrepreneurial studies at Cleveland’s Case Western Reserve University, suggests that genes don’t just influence whether a person will start a business; they may even determine how much money a person will earn. In other words, some people are born to be alpha wolves, and the rest will work in the mailroom.
According to the national Minority Business Development Agency, there are approximately 5.8 million minority-owned businesses in the US, representing a strong pool of people with the entrepreneurial gene. That business acumen translates to approximately 6 million jobs and $1 trillion in revenue nationwide. For those individuals who are not naturally inclined toward business success, The Institute provides a solid support network to develop business infrastructure and close the gap between nature vs. nurture in business development and growth.
Ali said, “Our in-house Minority Business Development Center is one of 44 across the entire nation. As a national program, MBDA is the only federal government agency solely dedicated to the growth and global competiveness of minority business enterprises.” So, whether these successful business leaders are born or made, The Institute encourages entrepreneurs and business professionals to explore business development options, programs and services, which can help provide greater access to capital, contracts, and markets for all minority-owned businesses and business owners.