IMMEDIATE RELEASE: Monday April 4, 2011

MBRT Releases Results of Nationwide CEO Economic & Political Survey 

• America’s leading small & minority business are uneasy about the economic outlook
• Dissatisfied with policy makers of both parties in Congress
• Somewhat satisfied with President Obama’s job performance
• Troubled with the cost of wars and wonder about the end game
• Cite lack of access to capital and contracts as the main detriments to their business growth
• Favor cutting entitlement programs to reduce the national deficit
• See Democrats taking the White House in 2012 by 53% to 35%

Washington, D.C. – The Minority Business RoundTable released a survey of the opinions of over 300 CEO’s on their views of issues impacting their businesses.  Questions ranged from trends in hiring to what political party they think they will vote for in the 2012 Presidential election to take the White House.

While CEO’s views on the future fight for the White House are not predictors of the Presidential election outcome, there are troubling signs for both parties concerning America’s involvement in costly wars and the state of the economy and issues of lack of capital and contracts impacting small and minority businesses. Moreover, this voting block of small and minority business owners can shape the dialogue and outcome of the economy and election. So, it is critically important that both parties listen to their concerns and needs and involve them in the implementation of policy solutions.

The cost of the wars in Iraq, Afghanistan and the new involvement in Libya are estimated at $3 Trillion and straining U.S. resources.  The price of oil is up 40 percent from mid-2010 and the governments of the Middle East remains in turmoil. Gasoline prices are expected to exceed $4 and may reach $5 per gallon, healthcare costs have increased despite legislative measures to hold it down and food prices have surged 70 percent for milk and bread from two years ago. Unemployment rates have remained high just under 9 percent while many Blacks and Hispanics in the lower economic brackets exceed 15%. Federal, state and local governments are hemorrhaging under the weight of their health and pension plans and are cutting back services and looking at ways to increase revenues with possibly higher fees and taxes.  Congress is considering a possible shutdown and the question remains-who wins?  There is greater wealth disparity residing in less than 1 percent and middle class Americans are bearing more of the burden. Wall Street profits are soaring, large corporations are not paying their fair share of taxes and small and minority businesses lack access to capital and contracts to sustain and grow their businesses. What’s the fix? How do CEO’s see the future?

“Our CEO’s have innovative solutions that have been ignored and our voice seldom heard, said Roger A. Campos, President & CEO MBRT. “There is still time for the White House and Congressional Leaders to listen and act on the recommendations of our CEO entrepreneurs as important stakeholders in the path to sustainable growth and recovery.”

“MBRT supports the initiative to establish a National Small Business Lending Portal to increase loans to main street businesses matching lenders with borrowers locally, regionally and nationwide. Small and minority business loans will sustain and grow companies and create jobs. The Administration’s efforts to meet the government’s 23 percent small business contracting goals by just 1 percent could result in $6 billion increase in federal contracting that would stimulate jobs and growth.  Listening to our CEO’s and acting on innovative solutions are the keys to overcome these barriers to economic growth.”

About the Minority Business RoundTable: The Minority Business RoundTable is the only national non-profit organization for CEOs of the nation's leading African-American, Asian American, Hispanic American, Native-American and other minority-owned businesses. Its members analyze and help formulate effective public policies that impact minority-owned business.  Our corporate members work to create sustainable communities and national economic viability through successful partnerships.

The MBRT is proud to have Johnson & Johnson, Glaxco Smith Kline, National Cable & Telecommunications Association, National Bankers Association, Equifax, Business Thru Government (BTG), the Business Roundtable, an association of chief execrutive officers of the country’s leading corporations, U.S. Small Business Administration, U.S. Department of Energy, U.S. Department of Commerce, MBDA and other federal agencies, corporations and business trade groups as strategic partners.  For more information on the Minority Business RoundTable, please visit www.mbrt.net.
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Minority Business Roundtable
1629 K Street, N.W., Suite 300
Washington, D.C. 20006
202-289-8881
rogercampos@mbrt.net

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