T-Mobile has just made an effort to support the growth of minority-owned businesses in the country.
Today, T-Mobile for Business struck a partnership with the U.S. Department of Commerce’s Minority Business Development Agency (MBDA). One of the ways they are supporting this is by launching an educational workshop today.
The MBDA has reported that minority-owned businesses in the country face an uphill battle. Over the last decade, there has been an increase of 35 percent of minority-owned businesses. Despite this, their average gross receipts have dropped by 16 percent. T-Mo says that this is “due to systemic barriers that make accessing capital and contracting opportunities more difficult for minority-owned businesses compared to non-minority owned businesses.”
With this discovery, the MBDA is committed to level the playing field for all businesses so that each business can be successful. And with this, T-Mo will be helping through its Magenta Edge program. This is part of T-Mo’s Equity in Action Plan that gives educational resources to minority small business owners.
As mentioned, T-Mobile has launched an educational workshop today that will prepare minority-owned business owners for the Buy Minority Business Enterprises (MBE) Day on September 24th. This day is an initiative of the MBDA to encourage customers to support local, minority-owned businesses. Buy MBE Day has been celebrated since 2020.
You can learn more about this initiative here.