The US Moves to Do More Business with LGBT Entrepreneurs Abroad Jeremy Quittner - Inc.
go to original June 30, 2014

National Security Advisor Susan E. Rice announced a $1.2 million investment to promote the vitality of LGBT-owned businesses.

In a first of a kind program, the U.S. Agency for International Development (USAID) will donate $1.2 million to a partnership that will help LGBT-owned businesses in developing countries.

The partnership, with the National Gay & Lesbian Chamber of Commerce (NGLCC), based in Washington, D.C., will provide a total of $4 million for business development in Colombia, Mexico, and Peru, with more countries soon to follow. NGLCC will donate the balance of the funds.

The goals of the effort are multifaceted. In addition to helping businesses in the U.S. become trading partners with LGBT businesses in the program countries, it would encourage the overseas businesses to become suppliers to multi-national corporations, as well as prompt engagement with companies and government agencies in their home countries.

Economic programs for LGBT-owned businesses in developing countries are important because this group is often severely economically disadvantaged in many regions.

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