Navigation Links
Congressional Black Caucus Foundation and GlaxoSmithKline Announce Supplier Business Initiative Study Results
Date:9/26/2007

Joint Effort to Increase the Capacity of the Nation's Small Disadvantaged

Businesses

WASHINGTON, Sept. 26 /PRNewswire-USNewswire/ - The Congressional Black Caucus Foundation (CBCF) and GlaxoSmithKline (NYSE: GSK) today announced the results of a comprehensive Supplier Business Initiative study aimed at helping Corporate America assist small disadvantaged businesses (SDBs).

Rep. Kendrick B. Meek (D-Fla.), chairman of the CBCF board of directors, and Rep. Carolyn Cheeks Kilpatrick (D-Mich.), chairwoman of the Congressional Black Caucus -- and senior-level representatives from three other companies committed to diversity -- joined officials from CBCF and GSK in promoting the urgent need to help SDBs compete in a 21st century global economy.

The lawmakers, executives and officials joined in releasing the study's results at the 37th Annual Legislative Conference, a four-day event which opened today at the Washington Convention Center. The speakers said their efforts are dedicated to the memory of Parren J. Mitchell, a Congressional Black Caucus co-founder who championed small and minority businesses during his storied 16-year career in the House of Representatives. Rep. Mitchell died in May at age 85.

In 2005, CBCF and GSK expanded their partnership to increase the ability of small disadvantaged businesses to better compete. The Supplier Business Initiative's Corporate Advisory Council, created to advise and direct the initiative, commissioned a study to look at existing U.S. policy concerning the U.S. Small Business Administration's SDB program.

Thomas D. Boston, Ph.D., and Linje R. Boston, of the Atlanta-based EuQuant firm researched specific goals while completing the study, titled "Increasing the Capacity of the Nation's Small and Disadvantaged Businesses." They set out to measure the impact of the SDB program on minority business performance and examine how the personal net worth ceiling has affected SDB capacity. They also assessed the impact of the SDB program on national output and employment.

The study's results outline the barriers that small disadvantaged businesses face in pursing success in today's environment, including the ability to build capacity and satisfy corporate demand. The goals of the research findings are to close the gap and help minority businesses achieve the size, scale and capabilities necessary for global competition.

"With greater capacity, SDBs are able to operate more successfully in the public and private sectors," said Elsie L. Scott, Ph.D., CBCF's president and chief executive officer. "Their greater success expands overall economic output and generates jobs, income and wealth in the economy and especially in underserved communities."

The results reveal the following:

-- Small disadvantaged businesses still experienced an annual disparity in

revenue of $900,000 in comparison to non-minority owned small business

concerns with similar characteristics.

-- The $750,000 personal net worth ceiling of the SDB program has not been

adjusted for inflation in nine years. Therefore, the current real value

of the ceiling is $558,070.

-- The capacity of small disadvantaged businesses and the personal net

worth of their owners are closely related.

-- A personal net worth ceiling that is set too low causes other economic

hardships.

"GlaxoSmithKline and the Congressional Black Caucus Foundation partnered together to improve ways to help small disadvantaged businesses succeed among the competition," said Chris Viehbacher, president of U.S. Pharmaceuticals for GSK. "This study shows the success of that partnership. GSK will work with the CBCF to transform these recommendations into an action plan that helps GSK and all corporations turn government goals into success for small businesses. GSK is proud to share in this achievement with the CBCF."

Copies of the study are available online on the CBCF Web site at http://www.cbcfinc.org .

CBCF and GSK intend to present the study's findings to the Corporate Advisory Council so that its members can submit feedback. Efforts will then be made to persuade Congress to make the legislative remedies necessary to increase the ability of SDBs to compete in the global economy.

About the Congressional Black Caucus Foundation

The Congressional Black Caucus Foundation Inc. was established in 1976 as a nonpartisan, nonprofit, public policy, research and education institute intended to help improve the socio-economic circumstances of African Americans and other underserved communities. For more information, visit http://www.cbcfinc.org .

About GlaxoSmithKline

GlaxoSmithKline is one of the world's leading research-based pharmaceutical and healthcare companies, and is committed to improving the quality of human life by enabling people to do more, feel better and live longer. For more information, visit http://www.gsk.com .


'/>"/>
SOURCE GlaxoSmithKline
Copyright©2007 PR Newswire.
All rights reserved

Related medicine news :

1. LCA Hails Congressional Front Against Pink Camel Cigarette Campaign
2. Bird flu may cause a blackout in New Zealand
3. AIDS toll set to exceed Black Death
4. Physical activity less among black girls
5. Black tea said to lower cholesterol
6. FDA gives “black box warning” against three asthma drus
7. Women and Black Patients have less chances to survive a Heart Attack
8. Poisoning by fruits similar to blackberries
9. Blacks decline Lung cancer surgery
10. Fewer Blacks Undergo Lung Cancer Surgery
11. Home Remedies More Used By Blacks And Native Americans
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/10/2016)... ... 2016 , ... Intermedix announced on Wednesday that it was ... medicine professional association, to support the organization's newly established physician group with a ... Medicine, or AAEM, seeks to empower emergency physicians to control their own practices. ...
(Date:2/10/2016)... Tarzana, CA (PRWEB) , ... February 10, 2016 ... ... Fernando Valley , announces that his office is now offering a variety of ... cheek enhancement, chin enhancement, eyebrow lift, facial volume restoration, lip enhancement and nasal ...
(Date:2/10/2016)... ... February 10, 2016 , ... Gout is like no other joint pain. ... often severe, with intense swelling and redness. It is triggered by the crystallization of ... adults are the most susceptible, according to the February 2016 issue of Harvard Men's ...
(Date:2/10/2016)... ... ... For additional information contact Phyllis Strupp 480-488-5858 , Brain improves with age, ... Guide to Brain Training" by award-winning author Phyllis Strupp explains how brain ... 16, 2016. A free review copy is available to the media at NetGalley ...
(Date:2/10/2016)... ... February 10, 2016 , ... ... February 26th: Amateur & Professional Divisions - Time: 7:00pm – 10:00pm | ... | Ticket Prices $30, Social Media: http://www.USPoleSportsFed.org , Facebook: http://www.facebook.com/uspolesportsfederation ...
Breaking Medicine News(10 mins):
(Date:2/10/2016)... 2016 CSI Specialty Group (CSI) expanded its ... the Specialty Pharmacy Podcast. A free, weekly show, the ... real-world education, discussion and context amongst specialty pharmacy peers ... --> The Specialty Pharmacy Podcast, hosted by ... Group Suzette DiMascio, CHE, CMCE, CPC, is available for ...
(Date:2/10/2016)... , Feb. 10, 2016 Immune Pharmaceuticals Inc. ... announced today that it has filed a patent application ... other cancers. --> --> ... by administration of Ceplene (histamine dihydrochloride) in combination with ... of predicting the efficacy of Ceplene and IL-2 therapy ...
(Date:2/10/2016)...  The ALS Association, in partnership with ALS Finding a ... a biomarker to track TDP43 aggregation. The successful team(s) with ... million investment. --> --> ... cells in the brain and the spinal cord. Eventually, people ... movement, which often leads to total paralysis and death within ...
Breaking Medicine Technology: