[Federal Register Volume 63, Number 178 (Tuesday, September 15, 1998)]
[Presidential Documents]
[Pages 49263-49264]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-24855]


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  Federal Register / Vol. 63, No. 178 / Tuesday, September 15, 1998 / 
Presidential Documents  

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 Title 3--
 The President

[[Page 49263]]

                Proclamation 7119 of September 10, 1998

                
Minority Enterprise Development Week, 1998

                By the President of the United States of America

                A Proclamation

                America's free enterprise system has always been a path 
                to inclusion and empowerment. Under this system, 
                generations of Americans have built good lives for 
                themselves and their families--rising as high as their 
                skills, effort, and determination can take them. But 
                for minority entrepreneurs, the path has not always 
                been free of obstacles. Sometimes held back by 
                economic, social, and educational disadvantages, too 
                often denied opportunities because of racial and ethnic 
                prejudice, many minority men and women have had to 
                struggle for equal access to the capital, tools, 
                training, and services they need to build and maintain 
                successful businesses.

                My Administration remains committed to providing 
                opportunities for all entrepreneurs, and we are 
                determined to ensure the full inclusion of minority 
                business enterprises in the economic mainstream of our 
                Nation. The Minority Business Development Agency at the 
                Department of Commerce continues to promote minority 
                business growth and to create new initiatives to ensure 
                that minority business men and women have access to the 
                capital, information, and training they need to compete 
                in today's domestic and global markets. Last year, the 
                Small Business Administration (SBA) made a record $2.6 
                billion in loans to more than 10,000 minority-owned 
                businesses; over the last 4 years, loans to minority 
                borrowers have nearly tripled. And earlier this year, 
                the SBA entered into partnership agreements with three 
                leading minority business organizations as part of a 3-
                year outreach initiative. This initiative is designed 
                to increase dramatically the SBA's financial, 
                technical, and procurement assistance for minority 
                entrepreneurs. These efforts will help to ensure that 
                America's growing number of minority entrepreneurs are 
                equipped to succeed.

                Strong and successful minority enterprises benefit us 
                all. The goods and services produced by minority-owned 
                firms create jobs, spark community reinvestment and 
                neighborhood pride, and increase America's 
                productivity. With their imagination, innovative 
                spirit, and willingness to take risks, minority 
                entrepreneurs have made important contributions to the 
                remarkable growth of our economy during the past 5 
                years. Since the beginning of my Administration, we 
                have created more than 16 million new jobs and 
                unemployment has reached its lowest level in 30 years. 
                But to sustain and build on this success, we must 
                utilize the energy and creativity of every American.

                As we observe Minority Enterprise Development Week, we 
                recognize and honor the extraordinary contributions 
                that minority entrepreneurs make to our Nation's 
                strength and prosperity, and we reaffirm our 
                determination to help them make the most of today's 
                dynamic economy.

                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 September 20 through 
                September 26, 1998, as Minority Enterprise Development 
                Week, and I call upon all Americans to join together 
                with minority business entrepreneurs across the country 
                in appropriate observances.

[[Page 49264]]

                IN WITNESS WHEREOF, I have hereunto set my hand this 
                Tenth day of September, in the year of our Lord 
                nineteen hundred and ninety-eight, and of the 
                Independence of the United States of America the two 
                hundred and twenty-third.

                    (Presidential Sig.)

[FR Doc. 98-24855
Filed 9-14-98; 8:45 am]
Billing code 3195-01-P