THE TENNESSEAN

BUSINESS SECTION E

Minority businesses struggle, but their health improves

MEDWEEK takes look at problems, solutions

By: Lisa Benadives, Staff Writer

Date: Tuesday, September 27, 1998

Minority businesses struggle, but their health improves

MEDWeek takes look at problems, solutions

By: Lisa Benavides

Staff Writer

The economic health of Nashville’s minority businesses is in serious condition, but there are widespread efforts working for a cure.

That was the consensus of a panel of community leaders gathered yesterday for Minority Enterprise Development Week, or MEDWeek, to discuss the status of the city’s minority business community.

"It’s really getting better. It’s not critical, but it’s a little better than that. I’d say serious," said Samuel Howard, chairman of the Nashville Area Chamber of Commerce and head of Phoenix Healthcare Corp.

Howard referred to a new breed of minority entrepreneur he is seeing opening up businesses, ranging from restaurants to computer businesses.

"With the young people coming in, I’m excited because they’re focusing on the broader economic pie, rather than one particular industry," he said.

Mayor Phil Bredesen, another panelist, agreed that the status of minority-owned businesses in Nashville was ill, with "an as yet unresolved illness."

Yet by continuing to grow the entire city’s economy, minority businesses could benefit by getting a piece of a growing pie, the mayor observed.

"This is the time we really need to bear down and make new investments," Bredesen said of the strength of the city’s economy.

He also said women-owned businesses were healthy and growing at a fast rate.

The diagnosis from Bill Baxter, the state’s economic and community development commissioner, was more optimistic. He said compared to the rest of the state, Nashville’s minority-owned businesses were in stable condition.

"Business formation is up and, in the minority community, it’s up even faster," he said. "The trends are positive."

MEDWeek is designed to bring corporations, government agencies and minority business owners together to expand contacts, discuss pertinent issues and celebrate accomplishments.

This years’s theme is creating a competitive advantage in a changing business environment. Co-chairwomen for the week’s activities are Betty Marshall, senior vice president of corporate communications for Shoney’s Inc., and Elaine Robinson, vice-president of public affairs for Nashville Electric Service.

"Small businesses give great service, but they often need help in dealing with the bureaucracies of big companies and government."

By showcasing small minority businesses that have successfully competed with larger companies on contracts, MEDWeek provides models for the rest of the community, she said.

"If small businesses don’t believe that you can succeed, they won’t try," she said.

Much of the aid to minority business owners is provided by the Nashville Minority Business Center, a non-profit organization funded by the state and private donations.
 

Events planned this week

Upcoming events for Minority Enterprise Development Week. For more information , call 255-0432:

Today: "Meet the Presidents Construction Mixer," 6-9 p.m. in the Demonstration Room of the BellSouth building, 333 Commerce St. This free event will feature members of the largest construction firms in Middle Tennessee available to talk to minority owned firms.

Tomorrow: Ninth Annual MEDWeek Golf Scramble, 8 a.m. - 2 p.m., Ted Rhodes Golf Course. 1901 Ed Temple Blvd. Cost is $500 per foursome.

Two free seminars will be offered at the offices of Nortel, 220 Athens Way, 6-9 p.m. These are: "Building a Banking Relationship," and "Creative Financing for Small Business."

Thursday: "Electronic Commerce ...Jolting Small Business," 8 a.m.-3 p.m; BellSouth, 333 Commerce St. This free seminar features using the internet, developing Web pages, software and hardware requirements.

A reception will be 6-8 p.m. in the BellSouth auditorium, honoring local entrepreneurs who have been nominated for recognition.

Friday: Small Business Administration conference and luncheon on 8(a) contracting opportunities 8 a.m.-3 p.m., BellSouth, 333 Commerce St.

Saturday: "Minority Business Achievement Awards Gala," 6 p.m. at Opryland Hotel Convention Center, Presidential Ballroom. Cost is $150 per person.