The purpose of the Hot Springs Chamber's diversity, equity and inclusion (DEI) program is to facilitate the sustainable development of equitable solutions and strategies to create an inclusive business environment that promotes access to resources and opportunities.
AVAILABLE RESOURCES
Minority entrepreneurs in the Hot Springs area have multiple organizations and resources available to help them with their businesses. Below are a few:
Arkansas Small Business and Technology Center: The Arkansas Small Business and Technology Development Center is a university-based economic development program that assists entrepreneurs, both new and seasoned. We help with every aspect of business creation, management, and operation.
Arkansas Small Business and Technology Center: The Arkansas Small Business and Technology Development Center is a university-based economic development program that assists entrepreneurs, both new and seasoned. We help with every aspect of business creation, management, and operation.
|
“Minority owned business” means a business that is at least 51% owned by one or more minority persons. “Minority” means a lawful permanent resident who is African American, Hispanic American, American Indian, Asian American, or Pacific Islander American.
Becoming certified increases your opportunity to sell products and services to the State of Arkansas. It also opens the door to training, workshops, and network and educational events. Certified Minority and Women-Owned Businesses are also provided numerous financial-aid opportunities.
|
MINORITY BUSINESS ECONOMIC DEVELOPMENT ACT
The Minority Development Economic Development Act was passed to support equal opportunity as well as economic development in every sector and to support to the fullest all possible participation of firms owned and controlled by minority persons and women in state-funded and state-directed public construction programs and in the purchase of goods and services for the state.
All state agencies will attempt to ensure that the following percentages of the total amount expended in state-funded and state-directed public construction programs and in the purchase of goods and services for the state each fiscal year are paid to minority business enterprises and women-owned business enterprises:
All state agencies will attempt to ensure that the following percentages of the total amount expended in state-funded and state-directed public construction programs and in the purchase of goods and services for the state each fiscal year are paid to minority business enterprises and women-owned business enterprises:
- For minority business enterprises, ten percent (10%)
- Two percent (2%) for service-disabled veteran-owned minority business enterprises.
- Eight percent (8%) for all other minority business enterprises.
- For women-owned business enterprises, five percent (5%)
