In a groundbreaking development, the U.S. The Department of Commerce recently signed a historic Memorandum of Understanding (MOU) acknowledging Jewish-owned businesses as minority-owned entities which includes hundreds of programs including for Government contracts. This significant step allows them access to minority status, a move that promises to broaden economic participation and inclusivity at the federal level of government.
Separate and apart from this, the Orthodox Jewish Chamber of Commerce is working to enhance the NYC inclusion formula which is based on a comprehensive Disparity Study that will examine the extent to which minority and women-owned businesses are receiving their equitable share of city funded contracts. As part of the study that helps determine how the minority contracts are distributed, the city has released a survey to capture the experiences of small businesses in doing business or attempting to do business with city government.
Why is this survey so important and time sensitive? The survey, which is one part of the Study which is due mid February, will play a vital role in shaping the future of NYC's Minority and Women-Owned Business Enterprise (M/WBE) program. By responding to the survey, small business owners have an opportunity to ensure that the city hears from them directly about their experiences. Results from prior studies have helped determine citywide contracting goals for specific categories of businesses in key industries.
Jewish business owners are urged to complete the survey at the earliest opportunity. This collective participation will help in crafting a comprehensive and representative economic future that benefits all minority businesses in New York City.
[INCLUDE THE LINK TO THE SURVEY] - https://on.nyc.gov/mwbestudy25
[AND LEARN MORE] - https://islg.cuny.edu/nyc-disparity-study