TexOMBE News, Volume 2, Number 6, November-December 1974 Page: FRONT COVER
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TexOMBE NEWS
THE NEWSLETTER OF THE TEXAS INDUSTRIAL COMMISSION/OFFICE OF MINORITY BUSINESS ENTERPRISE
Vol. 2, No. 6 November-December, 1974TexOMBE Second Fiscal Year
Ends With Strong Growth-- Loan Approvals More Than Triple
FY 1973 Totals. --
TexOMBE's second fiscal year
came to a close October 31st with
a total of 85,571,348 in funds hav-
ing been generated for minority
loans, private, state and federal con-
tracts, and minority bank deposits.
Business loans were again the lar-
gest single factor in total dollar vol-
ume. 142 loans were approved for a
total of $2,912,158. This com-
pares with 34 loans at $736,363
approved during FY 1973. An addi-
tional 92 loans totalling $2,807,701
were pending approval or in work
at lending institutions in Texas.
The most dramatic growth came
in the area of contract and pur-
chasing awards to minority business
firms from all sections of the econo-
my. A total of 39 contracts valued
at $2,372,388 were awarded dur-
ing FY 1974 as compared with on-ly three valued at $269,299 in FY
1973. Additional grants, bank de-
positis and lines of credit added
$286,802 to the year's grand total.
Technical Assistance was rendered
to 1201 TexOMBE clients, either in-
dividually or collectively in local
seminars and meetings. Procure-
ment seminars increased to 31
throughout the state as compared
to 17 last year. Average attendance
at seminars also climbed from 25
per session in 1973 to 35 in 1974.
Despite the tight money market
and strong competition for con-
tract and procurement dollars, Tex-
OMBE well exceeded its goal of
$15 generated for each federal dol-
lar spent. Final tallies, in fact,
show a ratio of 22.97 business dol-
lars generated for each federal tax
dollar spent.
TexOMBE is a department of the
Texas Industrial Commission, Com-
munity Development Division.HCR 99 Committee Hears Pleas
For Help in Bid ProceduresMore assistance in coping with
red tape and giving small business
owners a spokesman in Austin is
the consensus of testimony develop-
ing from meetings being held by
the Joint Interim Committee on
Small Business. The committee,
formed under the auspices of Sen-
ate-House Concurrent Resolution
(HCR 99) has heard testimonyfrom local business owners in Aus-
tin, Dallas, Houston, and Odessa
since September.
Besides complicated bid processes,
a major problem area is business
education, according to testimony
heard by the committee. Proposals
presented to the committee include
more night classes, workshops and
seminars in state and local schools
(Please see HCR 99, Page 2)Mexico-U.S. Trade
Conference Held in
Laredo, Texas
A three day conference on Mexi-
co-U.S. trade opportunities closed
in Laredo November 21st with dele-
gates hailing it as one of the most
informative sessions ever held.
Cosponsored by the Institute for
International Trade of Texas A & I
University at Laredo, the Texas In-
dustrial Commission, and the Uni-
ted States Department of Com-
merce, the conference heard eigh-
teen speakers cover a range of sub-
jects from international banking
and credits to export opportunities
for small business.
One of the most important pre-
sentations for small manufacturers
and wholesalers was given by John
Muilin, Esq., United States Consul
and Chief of the Commerce Sec-
tion. U.S. Consulate in Monterrey,
Mexico. Mullin explained the com-
puterized identification system
jointly operated by the State De-
partment and Department of Com-
merce, which identifies American
businesses by SIC code number.
Under the system, whenever a
foreign company requests a parti-
cular product at a commercial off-
ice, the request is channeled
through Commerce's computer sys-
tem which matches it to firms regis-
tered. These firms automatically
receive an invitation to explore the
particular opportunity.
Mullin noted that nearly 200 com-
mercial consulates exist throughout
the world and that they average
150 requests each year. The poten-
tial, therefore, is very great even for
small businesses, because the value
(Please see MEXICO, Page 2)
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Texas Industrial Commission. TexOMBE News, Volume 2, Number 6, November-December 1974, periodical, November 1974; Austin, Texas. (https://texashistory.unt.edu/ark:/67531/metapth1588967/m1/1/: accessed June 23, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.