Government recognizes success of minority business owners

Government recognizes success of minority business owners

The Minority Business Development Agency (MBDA) of the Department of Commerce has announced the winners of its National Excellence in Minority Business Awards.

The list includes CVE Technology Group from Plano, Texas, which was honored in the Manufacturer of the Year category for its work in the field of processing, repairing and refurbishing of consumer electronic products. Its annual revenue is $30 million, and it creates more than 1,000 jobs.

"Minority firms have a substantial impact on communities throughout the country with the number of people they employ and the revenues they generate," said MBDA's national director David Hinson, explaining the agency is laying financial foundations for a new generation of minority-owned businesses.

"[These businesses play] a critical role in the recovery and reinvestment of our national economy," he added.

As successful entrepreneurs frequently hold a business degree, those working adults who would like to boost their income and career prospects may consider enrolling in an online MBA program.

Depending on the field, position and years of experience, MBA holders' average salaries ranged from $73,510 to $171,583 in 2008, according to research company PayScale.com.