THE WHITE HOUSE
Office of the Press Secretary
For Immediate Release August 9, 1994
MINORITY ENTERPRISE DEVELOPMENT WEEK, 1994
BY THE PRESIDENT OF THE UNITED STATES OF AMERICA
Growth and development in the minority business community are crucial to the social fabric, as well as to the overall economy, of this Nation. While racial and ethnic minorities constitute over 26 percent of the total U.S. population -- a proportion that is constantly growing -- minority citizens continue to be underrepresented in commerce and industry.
This lack of representation results in losses of opportunities and in losses to the American economy. This can and must be rectified. Every individual has a contribution to make and deserves to participate fully in the public and private sectors of the United States, without regard to racial or ethnic origin.
Minority business development is an essential element in helping to enable every American to become a full participant in the economic life of our country. Minority entrepreneurs often face tremendous odds on the road to success. However, the assistance and encouragement of our Government is available to all of our citizens. This includes up-to-date information regarding market opportunities, increased capital for business expansion, advice and experience in business management, and recognition of the quality goods and services minority-owned firms can provide.
Commerce in America is at a watershed: to achieve economic security, we must eliminate old ways of doing business and initiate practices that are inclusive. Discriminatory and exclusionary practices have no place in our Nation. Ours has always been a society comprised of minorities; diversity is our strength. And everyone must be included in this country's economic team.
We are definitely on the right track, as the economic policies of this Administration have already resulted in renewed economic growth that has generated 3.5 million new private-sector jobs for our citizens. And with the unemployment rates of our minority citizens showing improvement as well, this means we are producing more jobs for those Americans who have too often been excluded from the mainstream of our society. But more remains to be done, and we will need to look to minority businesspeople to become a cornerstone of an urban renaissance, creating even more jobs where we most need them. Minority business development is one place where a small investment can yield tremendous dividends.
Minority Enterprise Development Week highlights the benefits of commercial and economic expansion for minorities and offers us an opportunity to acknowledge the growing number of successful minority entrepreneurs and to pledge support for continued growth.
NOW, THEREFORE, I, WILLIAM J. CLINTON, President of the United States of America, by virtue of the authority vested in me by the Constitution and laws of the United States, do hereby proclaim the week of October 9 through October 15, 1994, as "Minority Enterprise Development Week." I call on the people of the United States to recognize the contributions that minorityowned businesses make to the well-being of this Nation and to observe this occasion with appropriate ceremonies.
IN WITNESS WHEREOF, I have hereunto set my hand this ninth day of August, in the year of our Lord nineteen hundred and ninety-four, and of the Independence of the United States of America the two hundred and nineteenth.
WILLIAM J. CLINTON
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