Minority Business Development Act of 2019
This bill permanently authorizes the Minority Business Development Administration to assist socially and economically disadvantaged business concerns.
Specifically, the bill redesignates the Minority Business Development Agency as the Minority Business Development Administration (MBDA). The MBDA shall (1) assist disadvantaged business concerns entering domestic and foreign markets by providing education and training, management and technological assistance, a skilled labor pool, and financial and marketing services; and (2) encourage such businesses to establish joint ventures and projects among themselves or in cooperation with public or private sector organizations.
In addition, the Securities and Exchange Commission must consult and cooperate with the MBDA to promote access by disadvantaged businesses to securities markets.