At mid-year, the economic impact from services provided by the Oklahoma Native American Business Enterprise Center (NABEC) is over $19 million.
The impact report was released by Tom Seth Smith, President & CEO, Rural Enterprises of Oklahoma, Inc. (REI). NABEC is a joint effort of REI and the Minority Business Development Agency of the U. S. Department of Commerce. REI opened the NABEC office in Tulsa two years ago.
According to the U. S. Department of Commerce, there are approximately 34,845 Native American and ethnic minority-owned businesses in Oklahoma. These minority firms generated over $5 billion in gross receipts in Oklahoma, and employed nearly 42,000 workers.
NABEC provides business advisory services and other critical resources to ensure the continued success and growth of Oklahoma’s minority-owned businesses.
Through strategic partnerships with leading Oklahoma organizations, NABEC strives to assist minority business owners in reaching the next stage of growth for their companies with a special focus on procurement of government contracts.
“Much of the reported impact is from small businesses securing government contracts and matching them with other opportunities,” said James Ray, NABEC coordinator.
“We’ve simply broadened our client base and put more opportunities within their reach and the businesses have pursued those opportunities with success. It speaks well of the tenacity of our small businesses.”
NABEC’s complete line of services includes training workshops, client assessment, access to capital, counseling, marketing and bid assistance for contracting and procurement opportunities.
After receiving assistance with opportunities in the construction field and securing bonding, Mechanical Air Systems, Broken Arrow, OK , a heating and air conditioning contractor, doubled in revenue after becoming a NABEC client and over 100 jobs were created.
NABEC assisted Mid- Plains Construction, Durant, OK by matching the company to qualified sub-contracts for the projects it manages and constructs. This market expansion by the company resulted in the creation of 27 jobs.
“ In addition to the services NABEC provides, the stimulus money is also in the mix,” Ray said. “ I believe we will see a positive impact in opportunities related to construction and infrastructure projects since that’s a big focus of the stimulus incentive.”
For more information visit OKNABEC.com or call James Ray at 918.237.2824.