The Impact of Government Policies and Federal Investments on the Growth of Minority-Owned SMEs in the United States

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@article{1708162,
      author = {Julia Chibuzor Nwanya, Kehinde Onaruyi-Obasuyi},
      title = {The Impact of Government Policies and Federal Investments on the Growth of Minority-Owned SMEs in the United States},
      journal = {Iconic Research And Engineering Journals},
      year = {2025},
      volume = {8},
      number = {10},
      pages = {1169-1183},
      issn = {2456-8880},
      url = {https://www.irejournals.com/formatedpaper/1708162.pdf},
      abstract = {This study evaluates the effectiveness of U.S. government policies and federal investments in enhancing the growth of minority-owned small and medium enterprises (SMEs). It investigates systemic barriers such as limited access to capital, business networks, and public procurement opportunities that hinder the progress of minority entrepreneurs. Through a multi-level policy analysis and case studies, the paper reveals that programs like the SBA 8(a) and MBDA have significantly improved access to capital, mentorship, and government contracts. However, gaps remain in equitable program implementation, especially for African American-owned businesses. The paper underscores the need for adaptive, culturally responsive policies that target structural inequities and recommends expanding federal investment frameworks to enhance inclusivity and scalability.},
      keywords = {Minority-owned businesses, federal investment, public policy, economic equity, small business growth, SBA 8(a)},
      month = {April},
  }