MBDA Signs Memorandum of Understanding with Essence

Essence, a media brand dedicated to African-American women, signed a memorandum of understanding (MOU) with the U.S. Department of Commerce Minority Business Development Agency (MBDA).

Signing on behalf of MBDA was Acting National Director Edith J. McCloud and signing on behalf of Essence was President Michelle Ebanks.

The official signing, which took place at Essence’s offices in New York City, marks the beginning of a partnership designed to benefit the development and advancement of minority-owned businesses. This partnership will also provide an expanded focus on extending resources to the fastest growing segment of business owners—women of color.

Both Essence and MBDA will combine resources to present training workshops and seminars, publish informative content for entrepreneurs, expand strategic alliances across multiple platforms and more. 

As outlined in the MOU, MBDA will support Essence’s events and conferences related to domestic and international business development efforts; as well as actively engage in its role on the ESSENCE Entrepreneurial Advisory Council by recommending committee members and actively participating in committee meetings to develop business programming.

Both partners will also work collaboratively to identify potential research studies that focus on minority women-owned businesses.

Visit Essence.com for more information.