Member Of Obama Administration Commends Minority Entrepreneurs In Philadelphia
PHILADELPHIA (CBS) -- At a gathering of business, non-profit, faith and community leaders in Philadelphia, an economic development specialist in the Obama administration told them small businesses are a catalyst for growth in minority neighborhoods.
Assistant Secretary of Commerce for Economic Development Jay Williams says there are 8 million minority owned firms in the US that are "under appreciated and under recognized."
He says the government can make policy moves that help shape decisions, but jobs are created in the private sector.
"Individuals who are willing to put their financial capital, their time and talent at risk. Ultimately, that's how jobs are created."
Williams says the problem is that some communities have been denied opportunity. He says that attitude must change.
"The president says talent is equally distributed, but opportunity is not. You should not be defined by the zip code in which you happen to reside."
The Obama Administration's My Brothers Keeper Initiative addresses persistent opportunity gaps faced by young people of color. It connects them to mentoring, support groups, and the skills they need to find a good job or go to college.