In an effort to galvanize the economic prowess of minority business enterprises (MBEs), the Minority Business Development Agency (MBDA) and the Orthodox Jewish Chamber of Commerce (OJCC) have formalized a partnership through a Memorandum of Understanding (MOU). Announced yesterday at the U.S. Department of Commerce, the agreement seeks to open doors for MBEs within the Jewish community, providing them with increased access to capital, contracts, and a wider global market presence.

The synergy between MBDA and OJCC harnesses a melding of resources aimed at nurturing and spotlighting business opportunities among Jewish MBEs. “The Minority Business Development Agency is excited to collaborate with the Orthodox Jewish community and help break down barriers and expand opportunities for the global Jewish community’s entrepreneurs,” Eric Morrissette, who is performing the non-exclusive duties of the Under Secretary of Commerce for Minority Business Development, said in a statement obtained by MBDA. With education and outreach being pivotal aspects of the new MOU, both organizations anticipate an upswing in joint participation at industry events and learning workshops.

Driving home the importance of this collaboration, Deputy Secretary of Commerce Don Graves highlighted the Biden-Harris Administration's commitment to minority business growth. “The Orthodox Jewish Chamber of Commerce is a tremendous partner, helping to fuel the business creation and growth that are driving forces for the nation’s economy,” Graves mentioned. The MOU represents a broader government pledge to foster inclusivity and practical support for MBEs, a sector holding key roles in the overall economy, as per the Minority Business Development Agency.

Duvi Honig, Founder & CEO of OJCC, commended the enhanced partnership and spotlighted the significance of the agreement. “It's a tremendous honor to work with leaders like Deputy Secretary Don Graves, Deputy Under Secretary Morrissette, and Joann Hill from MBDA, whose efforts have led to closer and more intentional collaboration between MDBA and OJCC,” Honig told MBDA, expressing gratitude for the initiative.

This MOU is part of a wider strategy by MBDA to broaden MBE access to vital growth resources. Established over 50 years ago, the MBDA remains the only Federal agency exclusively committed to the expansion and competitiveness of U.S. minority business enterprises. More details about MBDA’s role and the OJCC’s network of businesses and professional members can be found on their respective websites.