Minority Business Leaders Urge Compromise Before Fiscal Cliff

WASHINGTON, Dec. 13, 2012 (GLOBE NEWSWIRE) -- The United States Hispanic Chamber of Commerce (USHCC), the U.S. Black Chamber, Inc. (USBC) and the Native American Contractors Association (NACA) jointly urge the United States Congress and President Barack Obama to prevent the fiscal cliff from threatening more than five million thriving minority owned businesses.

These three leading business organizations, representing the interests of America's fast-growing minority business segments, recognize that political leaders must take swift action to ensure the continuation of the few existing incentives in the Bush Era Tax Cuts that encourage job creation and growth for minority firms. Despite a sluggish economic recovery after one of the worst recessions in U.S. history, Hispanic, Black, and Native American entrepreneurs have consistently started new ventures at a rapid pace.

"The USHCC joins minority and small business leaders from across the country in urging this Congress to protect small businesses from the impending fiscal cliff," said USHCC President & CEO Javier Palomarez. "America's economy is built upon the achievements of small businesses, including that of more than 3 million Hispanic-owned firms. In order to promote the expansion of America's collective prosperity, we must shield small businesses – the true engine of job creation - during these difficult economic times."

"The USBC joins this collaboration to ensure economic empowerment continues to be available to minority entrepreneurs," said USBC President Ron Busby. "For 1.9 million Black-owned businesses across America, the fiscal cliff threatens the resources that made their startups possible. As a nation, we must continue to foster an economy where aspirations to own a small business can become an achievable reality for anyone."

"NACA unites in this national collaboration because small businesses and contractors are essential contributors to the economic development of Indian Country," said NACA Executive Director Kevin Allis. "For American Indian, Alaska Native and Native Hawaiian communities, the impact of the fiscal cliff will devastate the progress we have made to promote small business ownership under Native 8 (a) contracts."

About the United States Hispanic Chamber of Commerce

Founded in 1979, the USHCC actively promotes the economic growth and development of Hispanic entrepreneurs and represents the interests of over 3 million Hispanic-owned businesses across the United States that contribute in excess of $465 billion to the American economy each year. It also serves as the umbrella organization for more than 200 local Hispanic chambers and business associations in the United States and Puerto Rico. For more information, visit www.ushcc.com.
About the U.S. Black Chamber, Inc.

The U.S. Black Chamber, Inc. (USBC) provides committed, visionary leadership and advocacy in the realization of Black economic empowerment. Through the creation of resources, education, and initiatives, the USBC supports Black chambers of commerce and business leagues in their work to develop and grow Black enterprises. The USBC is an economic force and represents a powerful constituency. There are 1.9 million privately held Black-owned businesses across every industry sector in the United States, employing over 921,032 people and generating $137.5 billion in annual revenue.  For more information, visit www.usblackchamber.org

About the Native American Contractors Association

NACA is a national Native advocacy organization based in Washington, D.C., and represents Tribal, Alaska Native Corporations, and Native Hawaiian Organizations across the country. NACA seeks to protect the economic self-sufficiency of America's indigenous people that is enhanced through the participation of its members in the SBA 8(a) program. NACA's members represent and provide benefits for nearly 700,000 Tribal members, Alaska Natives, and Native Hawaiians.  For more information, visit www.nativecontractors.org


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