Passage 1??Recent years have brought minority-owned
businesses in the United States unprecedented
opportunities-as well as new and significant risks.
Civil rights activists have long argued that one of
(5)?the principal reasons why Blacks, Hispanics, and
other minority groups have difficulty establishing
themselves in business is that they lack access to
the sizable orders and subcontracts that are gener-
ated by large companies. Now Congress, in appar-
(10) ent agreement, has required by law that businesses
awarded federal contracts of more than $500,000
do their best to find minority subcontractors and
record their efforts to do so on forms filed with the
government. Indeed, some federal and local agen-
(15) cies have gone so far as to set specific percentage
goals for apportioning parts of public works con-
tracts to minority enterprises.
??? Corporate response appears to have been sub-
stantial. According to figures collected in 1977,
(20) the total of corporate contracts with minority busi-
nesses rose from $77 million in 1972 to $1. lbillion
in 1977. The projected total of corporate contracts
with minority businesses for the early 1980’s is
estimated to be over 53 billion per year with no
(25) letup anticipated in the next decade.
?Promising as it is for minority businesses, this
increased patronage poses dangers for them, too.
First, minority firms risk expanding too fast and
overextending themselves financially, since most
(30) are small concerns and, unlike large businesses,
they often need to make substantial investments in
new plants, staff, equipment, and the like in order
to perform work subcontracted to them. If, there-
after, their subcontracts are for some reason
(35) reduced, such firms can face potentially crippling
fixed expenses. The world of corporate purchasing
can be frustrating for small entrepreneurs

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