NMSDC Minority Business Economic Forum Transforms the Future
Sync locally and support globally to benefit the minority community.
Philosopher Edwin Way Teale said, “All things seem possible in May.” Speakers, panelists, organizers, and attendees at the National Minority Supplier Diversity Conference (NMSDC) 2024 Minority Business Economic Forum on May 14-16 in Seattle found Teale’s words to be prophetically true as they assembled to discuss, support, instruct, advise, and advance each minority business through the forum’s theme of Be Next, Now!
Dubbed a “Davos for minority business” by NMSDC CEO Ying McGuire, the event took place at Seattle’s Museum of Pop Culture, a Frank Gehry-designed paean to creative expression as a life-changing force. Channeling that theme into minority business, McGuire welcomed all to the gathering of top leaders in policy, business, academia, and nonprofits to discuss “opportunity driven by technology and innovation, setting the stage for minority business enterprises to thrive.” Taking over the entire museum for the night, forum participants enjoyed the intriguing exhibits while getting to know each other in a fun and informal setting. McGuire also imparted heartfelt thanks to the forum’s presenting sponsors: Zones, LLC, ASRC Industrial, and MasTec, who spoke movingly about their founding as minority businesses and commitment to the forum’s principles.
On the first day of panels, the always energetic and inspiring McGuire set the stage by illustrating NMSDC’s accomplishments and the economic strength of minority business. According to a 2023 Economic Impact Study, NMSDC-certified businesses increased revenue by 15% in a year, created more than 1 million jobs, earned $85.5 billion in wages, delivered $363.6 billion in revenue, paid $57.1 billion in taxes, and helped ensure that 65% of MBE employees were minorities. She also used the forum to help further NMSDC’s goal (“March to $1 Trillion!”) to generate a corporate spend toward $1 trillion in certified MBE revenue by 2030. If the caliber of the guests, the dynamism of the attendees, and the camaraderie of all is any indication, NMSDC’s goal will be easily achieved.
Seattle Mayor Bruce Harrell next fueled the audience with his fascinating experience growing up in Seattle as an Asian-Black man, becoming an attorney, and running for mayor. He quipped, “I laugh and I joke, but I do not play!” He also advised everyone to “Lead with excellence, not being a minority.” Harrell set the tone for the outstanding roster of speakers and panelists, bringing wisdom, humor and personal experience with exceptional lessons learned.
McGuire and Harrell set a high bar, which nearly all of the impressive speakers and panelists met with equal enthusiasm. They included Zones LLC Chairman & CEO Firoz Lalji, ASRC Industrial President & CEO Steve Ennis, MasTec CEO Jose Mas, KKR Co-CEO Joseph Bae, JHLA CEO James Lowry, WSDOT Secretary Roger Millar, US Department of Interior Deputy Secretary Joan M. Mooney, Department of Commerce Acting Undersecretary Eric Morrissette, Deloitte Vice Chair Stanley E. Porter, Bellevue Mayor Lynne Robinson, McKinsey Partner Sulay Sandy, Deloitte National Sector Leader Kevin O. Simmons, Merck Chief Procurement Officer Susanna Webber—the remarkable list goes on. Talent of similar caliber populated the timely and meaningful panels.
Covering a wide array of topics, from energy to capital to telecommunications to the next billion-dollar MBEs, the panels provided an exceptional mix of broad content and targeted intelligence for minority business executives and businesses. Panels included Navigating the Economic Horizon: Insights and Projections; NextNOW: New Energy. What is on the Horizon for MBEs?; Government Investments: Capitalizing on Government Investments for Future Growth (CHIPS); Capital Talk: Breaking Barriers – Capital Solutions and Investment Strategies for Pioneering Wealth Creation; Ensuring Costs of Debt are Fair and Equitable; NextNOW: AI and Racial Equity; Infrastructure Progress Report- Tracking Infrastructure Investment Impacts; Government Investments: Capitalizing on Government Investments for Future Growth (Inflation Reduction Act); and Building the Next Billion Dollar MBEs.
Naturally, the presenters and panels also brought a dose of hard reality, including the fact that much has changed in the minority business community and that many face a “DEI backlash” that has become politically popular in some arenas. Several specific strategies were offered addressing that but one overriding theme seemed to prevail—unite and fight no matter how difficult the landscape becomes.
On the second night, the forum hosted the NMSDC Equity Honors Awards recognizing, “the chief corporate officers leading the way to greater economic equity and minority business integration.” A veritable who’s who of high-powered executives from the nation’s top firms, the lavish dinner and entertainment gave participants opportunity to truly honor women and men who have gone above and beyond for the sake of minority business.
Chief Diversity Officer of the Year winner, panelist, and Merck Global Diversity & Inclusion Center of Excellence Vice President Celeste Warren values the conference because “it gives opportunity for corporations and minority owners to come together and dialogue, network, and make some business.” And she hopes that business owners find the forum as a path to reach their aspirations and that they “should as Mr. Lowry advised, ‘Dream high!’”
Fellow attendee and Merck Economic Inclusion and Business Diversity Director Raul Suarez-Rodriguez agrees. For him, the intimacy of the forum makes the difference because it “provides you an opportunity to really have more intentional conversations with suppliers.” He also encouraged everyone that together, “we must continue to fight. We must be persistent to find opportunities and to follow through. If there’s commitment, there’s opportunity.”
FOR more information
