2018 MMBC Continuum Annual Service Report

ECONOMIC POWER:
SHIFTING TO GROW A MORE INCLUSIVE & DIVERSE ECONOMY
2018 ANNUAL SERVICE REPORT
THE MID-SOUTH MINORITY BUSINESS COUNCIL CONTINUUM


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Letter from the President & CEO
What a di erence a year makes! I am excited and proud to lead e MMBC Continuum as we continue to impact the economic plight of the Memphis community by working with our Minority and Women-owned Business Enterprises (M/WBEs), corporate members and community/ecosystem partners. We work diligently to position our members to grow their revenue and supply the needs of our corporate and governmental partners. e Supply/Demand concept is integral to our focus in connecting diverse suppliers to bid opportunities. We continue to be successful in our work with M/WBE members reporting over $292 million in contract awards and 1,253 jobs
were created and retained. Providing innovative programming, training and a variety of other member bene ts and services is at the core of our support for our minority businesses. ere is no other organization like e MMBC Continuum in Memphis or the Mid-South and because of our passion for the work that we do, we are uniquely equipped to do this challenging, yet impactful work that connects and weaves across all business sectors.
Over the last year, Memphis was the epicenter of national attention as everyone celebrated the life and legacy of Dr. Martin Luther King, Jr., while asking questions about the future and what can and has been done to improve the equitable plight of all citizens. Economic equity is critical to the future of this community. When minority businesses grow and scale, it bene ts the entire community through job creation, consumer consumption and more. e MMBC Continuum has presented national thought leaders that provided data to support the business case for diversity and inclusion and the e ect on nancial performance. As such, the e orts of our community have to be intentional and inclusive.
We are thankful to our members, funders and supporters for making investments to accelerate the development and growth of minority businesses. Our Annual Service Report features highlights of our work, various accomplishments and a preview as we prepare to celebrate our 30th anniversary as an independent organization. We look forward to continue leading our members (corporate and M/WBE) to upli our economic state and soar to new heights.
Sincerely,
Jozelle Luster Booker President & CEO
President & CEO Letter


WBE
MBE WBE MBE 71% 39% 61%
29%
ORGANIZATIONAL IMPACT
The MMBC Continuum is impacting the economic health and vitality of this community by supporting the intentional growth of its members – scalable M/WBEs supplying the needs of corporations.
$2.9
Million Avg MMBCC
MBE rm (2017)
2X THE AVERAGE REVENUE
The latest data from the 2012 U.S. Census Bureau Survey of Business Owners (SOB) reported the average revenue of minority employer rms as $1.5 million.
In 2017, the average revenue of MMBC Continuum MBE members was $2.9 million.
$1.5
Million
Avg MBE
rm (2012)
2018 M/WBE members reported
$292 Million
in Contract Awards
1,253 jobs
were created and retained
POWERFUL CONNECTIONS
Ef ciency is the key to supporting the Supply/Demand Model. The MMBC Continuum meets the corporation’s needs by connecting scalable M/WBEs.
• Corporate Ef ciency Directory (CED) contains over 1,000 M/WBEs and includes suppliers in underserved industries.
• CED Utilization – The CED provides 24/7 access to minority and women-owned businesses
•Over68 customizedcorporateconnectionrequestswereprovided
• 138 bids and RFPs were sent directly to M/WBE members across various industries
Percentage of Total Firms
Percentage of Total Revenue
Percentage of Total Firms
Percentage of Total Revenue
M/WBE Revenue - $2.6 Billion
*2017 IRS Reported Revenue
Percentage of Total RevPenrcuentage of Total Firms
WBE 29%
MBE 71%
WBE MBE 39% 61%
• Total MBE Revenue over $503
million
WBE
WBE • AveMragBeErevenue of MBEMBE
39%
29%
employer rms - $2.9 Million 61% 71%
• Total WBE Revenue over $322 million
• Average revenue of WBE employer rms $4.5 million
Organizational Impact


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Our Why:
We exist to support M/WBEs in their journey to grow which will impact the economy and job creation.
growing to scale
Strategic and methodical growth is a key ingredient to the roadmap of entrepreneurial success. e MMBC Continuum is uniquely equipped to position its M/WBE members to scale and meet the needs/ requirements set by corporate members.
For corporations, e MMBC Continuum provides a myriad of Consultative Services to support and assist corporate strategy, sustainability and social responsibility objectives . e MMBC Continuum o ers a multi-dimensional approach to serve its memberships with excellence.
member benefits
TECHNICAL ASSISTANCE AND DEVELOPMENTAL POOL (TADP)
e TADP (Technical Assistance and Developmental Pool) is the 501(c)(3) sister organization to e MMBC Continuum, houses all of the developmental services and training designed to assist M/WBE members.
Quarterly seminars, nancial management, joint venture formation, succession planning and many other topics are the bedrock for supporting M/WBE growth.
A SPECIAL THANKS TO
THE TADP FUNDERS
Lansky Foundation
SEMINAR PARTICIPANT COMMENTS
Seminar: Executing Your Growth Vision: e Value of Strategic Shi Teams “Amazing Seminar!”...... – Felicia Bean Barnes, Bean and Prince, LLC
Great panel of speakers – Informative presentations reminding the importance of professional assistance from people with experience in those matters.
– Jay akkar, APEX
2 Day Training Class: Financial Management for the Closely Held Business
“Great Material. Would highly recommend to colleagues!!”
– Mario Parson, Passport Health
“Great class, very informative!”– Terrance Jackson, Neutex 10
Growing to Scale


Memphis MBDA Business Center
Operated by The MMBC Continuum
e MMBC Continuum has successfully operated the Memphis MBDA Business Center since 2012. e Center operates under the U.S. Department of Commerce and serves over 70 scalable minority business enterprise clients. e Center provides access to contracts, capital and nancing, global export assistance and other strategic business consulting services. e national network of MBDA Business Centers
provides a forum for clients from the Memphis Center to connect and engage in outside
markets. e Memphis Center consistently meets and exceeds de ned metrics to achieve annual goals.
To kick o the year, Jozelle Luster Booker, President & CEO presented the CEO Mindshi , a session designed to share innovative insights with scalable MBDA clients that have the infrastructure and capacity to meet the demands of corporate America.
MBDA MAKING A DIFFERENCE:
Joint Ventures and Strategic Alliances, Workforce Development & Community Collaboration
Early in the year the MMBC Continuum and the Memphis MBDA Business Center began working with three client construction rms to address workforce challenges they were experiencing in the skilled labor construction trades. e MBDA Business Center operator and the executive director worked to facilitate the initial discovery meetings and successfully connected the three rms to community partners like Southwest Tennessee Community College and the Tennessee College of Applied Technology (TCAT) to develop a minority apprenticeship program in the following trades: concrete, masonry and electrical. e program is in the development phase and scheduled to launch in
early 2019.
Capacity, Job Creation & Retention
A scalable mechanical rm made a shi to focus on key projects that required size, capacity, resources and experience. Prior to 2018, MMBC Continuum connected the rm to the general contractor for a major public/ private mixed use development. In 2018, the rm was a lead contractor for tenant improvements. In all, the rm completed $13 million dollars in mechanical
and plumbing projects. is work resulted in the creation of 73 new jobs and 28 retained jobs.
Financial Connections
Annually, the MMBC Continuum and MBDA Business Center host a nancial management class for clients to retool and refresh their nancial acumen. In conjunction with the class there was an opportunity to elevate the scalable banking initiative to invite banking partners to build relationships and engage with members directly . As a result of these banking connections, a number of M/
WBEs were able to establish new banking relationships, resulting in over $1 million in nancial transactions.
e TAP Consortium Apprenticeship Press Conference
Memphis MBDA Business Center


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Investing Today in the Future of Minority Business Development
Creating the Pipeline for Entrepreneurs of Tomorrow rough the 2GMBE Academy & EDF 2GMBE Seminar
Since 2013, e MMBC Continuum has intentionally focused on developing the next generation of minority entrepreneurs.
During the Academy and Seminar, students are introduced to successful young entrepreneurs and presented with innovative concepts to spark business ideation in high growth sectors with the intent for students to create businesses in high demand/tech related industries.
ACADEMY
Second Generation Minority Entrepreneurship Program
BIG IDEAS Come to Life
during the 2GMBE Academy
e 2GMBE Academy is a dynamic experience the brings a diverse group of students together to collaborate, innovate and develop a business concept from ideation to the big pitch!
Students hear from entrepreneurs and business leaders about the key components of building a successful business.
2GMBE


Year-at-a-Glance
BEYOND PARITY – The New Reality for M/WBE Growth: Innovative Strategies Shifting Supply to Meet Market Demand
EDF
2018
THE MMBC CONTINUUM 2018
ECONOMIC
DEVELOPMENT FORUM
june 19-21 | Memphis, TN
EDF 2018 | MMBC Continuum The Comprehensive Convener


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Year-at-a-Glance
Mid-South Minority Business Council Continuum
ROBERT R. CHURCH, SR.
ACHIEVEMENT AWARDS LUNCHEON
Minority Enterprise Development (MED) Week
Robert R. Church, Sr. Annual Achievement Awards Luncheon
Guest Speaker: Maital Guttman, McKinsey & Company
Jozelle Luster Booker, President & CEO, e MMBC Continuum
APEX CORPORATION OF THE YEAR
Award Winner: Methodist Le Bonheur Healthcare Finalists: Memphis Light, Gas & Water Division; Turner Construction Company
MBDA BUSINESS OF THE YEAR
Fred L. Davis, Fred L. Davis Insurance & MMBC Continuum Board Chair Jozelle Luster Booker, President & CEO, e MMBC Continuum
Award Winner: Campbell & Ford Construction, Inc. – Andre Ford & Michael Campbell
Finalists: ACOT Associates Group, LLC – Daniel & Solomon Akinduro; TopNotch Security, Inc. – Alfred Washington (not pictured)
SCALABLE M/WBE BUSINESS OF THE YEAR
Award Winner: Campbell & Ford Construction, Inc. – Andre Ford & Michael Campbell
Finalists: Artizan Constructors, LLC – Kirby Salton, President; Unistar-Sparco Computers, Inc. – Soo-Tsong Lim, Founder
M/WBE QUALITY ASSURANCE AWARD
Award Winner – Center for Orthotics and Prosthetics, Inc (COPI) - Jack Steele, President; Finalists: Bean & Prince Contractors, Inc. - Felecia Bean Barnes & Lee Bean (not pictured); ER2 - Rocky Jackson, Director of Operations, Christopher Ko, President (not pictured)
MED Week & Robert R. Church Achievement Awards


Year-at-a-Glance
Scalable Business Growth...
THE FOUNDATION OF WHAT WE DO
TADP


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The MMBC Continuum 2018 Board of Directors
Jozelle Luster Booker, President & CEO, MMBC Continuum
Charles Burkett, Chairman, First Horizon Foundation
Fred L. Davis, Owner, Fred L. Davis Insurance
Dr. Tracy D. Hall, President, Southwest Tennessee Community College Patrick Hopper, Vice President, Sourcing & Procurement, Federal Express
Raajkumar Kurapati, CFO, Vice President for Business and Finance, University of Memphis Keith Norman, Vice President of Government Relations, Baptist Memorial Health Care
Gary Rosenfeld, President & CEO, Memphis Area Transit Authority
Laurel Williams, Esq., Burch Porter & Johnson
Jarl “J. T.” Young, President & CEO, Memphis Light, Gas and Water Division 2018 Staff:
MMBC CONTINUUM STAFF
Jozelle Luster Booker, President & CEO
Natalie Robinson, Vice President and Director of Communications & Marketing
Janet Williams, Director of Corporate & Administrative Services Vernon Warrick, Strategic Business Advisor
Doris Gordon, Director of M/WBE Networking Events
Patrice Harris, Director of Core Development
Margaret Johnson, Director of Member Registration Courtney Rutledge, Administrative Program Assistant
MBDA BUSINESS CENTER STAFF Dino Hull, Executive Director
Joyce Ores, Senior Program Assistant


The MMBC Continuum is grateful for your continuing support.
Please click on the logos below to donate to these worthy programs.


158 MADISON AVENUE SUITE 300 MEMPHIS, TN 38103 PHONE: (901) 525-6512 FAX: (901) 525-5204 WWW.MMBC-MEMPHIS.ORG