New York City Mayor Eric Adams has announced that he plans to continue the push to double the number of contract work awarded to women and minority-owned businesses in the city. This is a continuation of the M/WBE (Minority and Women-Owned Business Enterprise) program that was launched
in 2005 and aims to increase opportunities for historically underrepresented groups.
Mayor Adams' announcement comes at a critical time, as the COVID-19 pandemic has disproportionately impacted minority-owned businesses, making the need for support even more pressing.
To achieve this goal, Adams plans to build on the existing M/WBE program by increasing outreach efforts and expanding the types of contracts available to these businesses. He also plans to provide more training and technical assistance to help these businesses compete in the marketplace.
One of the key ways Adams plans to expand the program is by creating a new M/WBE office focused on building relationships with these businesses and connecting them with opportunities in the city. The office will also focus on providing mentorship and other resources to help these businesses grow and succeed.
Adams is also looking to leverage technology to improve the contracting process and make it easier for M/WBE businesses to navigate. This includes implementing a new digital platform and streamlining the certification process.
The mayor's plan has received support from various organizations, including the New York City Chamber of Commerce, which praised the initiative for its potential to boost economic growth and create more opportunities for women and minority-owned businesses.
However, there are also concerns that the program may face challenges in implementation, particularly when it comes to ensuring that M/WBE businesses have the necessary resources and support to compete successfully for contracts.
Despite these challenges, Adams' commitment to the M/WBE program is a promising development for the future of minority and women-owned businesses in NYC. By continuing to invest in this program, the city is taking an important step towards creating a more equitable and inclusive business environment.