Microsoft & U.S. Department of Commerce Help Minorities.

Microsoft Corp., the U.S. Department of Commerce’s Minority Business Development Agency (MBDA) and other thought leaders are joining forces to unveil IT-based solutions aimed at helping small to medium women- and minority-owned enterprises — the nation’s fastest growing business segment — realize their business potential.

Microsoft and MBDA, and their associates in this effort, have formed the first Technology Partnership for Small Business Taskforce, an unprecedented advisory group of elite thought leaders from the technology industry, blue-chip community organizations and government municipalities that has been chartered with developing IT solutions that help demonstrate the benefits of technology products and services for women- and minority-owned businesses.

A 2004 national study by the Urban Institute suggested that the U.S. economy could capture up to $200 billion in additional revenue if minority and women business owners did a better job of integrating technology into their everyday business practices.

“We know that one of the fundamental keys to entrepreneurial success in the 21st century is the effective use of information technology,” said Ronald N. Langston, national director of the Minority Business Development Agency. “By decreasing the technology gap among these target populations, we can help enhance the business potential of women and minority business owners that will allow them to boost their bottom line, strengthen the U.S. economy and expand into global markets.”

U.S. Census data indicates that the number of firms owned by women is rising at twice the rate of all businesses, and minority-owned businesses are growing at four times that rate. Despite their growing strength and presence in the economy, women and minority business owners still have not had a fair opportunity to maximize their contributions to the nation’s revenues and jobs.

“Technology has increased our efficiency as much as two hundredfold,” said Tracy Reese, designer and co-owner of T. R. Designs. “It certainly has meant everything in terms of how competitive we are. Put simply, we wouldn’t still be in business if it weren’t for our investment in technology.”