Kenneth J. Dalto & Associates, DaimlerChrysler, and Bridgewater Interiors, share invaluable insights on "Partnerships between Major and Minority Businesses," at a panel convened by the Southern Oakland County NAACP.

With $1.3 Trillion of purchasing power, African American and Hispanic communities today constitute a significant part of most industries' customers. To reflect and mirror this customer base, major corporations such as Daimler-Chrysler are continuously strengthening their minority business purchasing programs. This creates tremendous opportunities for minority based entrepreneurship. Yet, winning large contracts with major corporations is a huge challenge for often small minority owned businesses.

Farmington Hills, Michigan (PRWEB) September 5, 2003 -- A group of three panelists shared invaluable insights on "Partnerships -- A Cornerstone of Prosperity for Major and Minority Businesses," at the 2003 Entrepreneurial Breakfast Seminar organized by the Southern Oakland County NAACP at the Beans and Cornbread Bistro on August 12, 2003.

Kenneth J. Dalto, principal and founder of the business management and financial consulting firm Kenneth J. Dalto & Associates, was invited as a panelist along with Jethro Joseph, Senior Manager of Diversity Supplier Development at Daimler-Chrysler and Ronald Hall, President of Bridgewater Interiors.

With $1.3 Trillion of purchasing power, African American and Hispanic communities today constitute a significant part of most industries' customers. Additionally, minorities will constitute 50 percent of the US population in 2040. To reflect and mirror this customer base, major corporations such as Daimler-Chrysler have created and are continuously strengthening their minority business purchasing programs. This creates tremendous opportunities for minority based entrepreneurship.

Yet, winning large contracts with major corporations is a huge challenge for small business. Like any other purchasing manager, minority supply managers hesitate to work with a minority owned business when it is too small. They are particularly concerned about the ability for a small business to handle a doubling, tripling, or quadrupling of their production. Therefore small minority owned businesses often need partners in order to win major bids.

According to Kenneth Dalto, "leading a small business to the world of big business is like building a bridge. You need engineering design. You need to use computer models to anticipate how your bridge will perform under all possible stress conditions; draw properly all your blueprints, then apply them skillfully." According to Kenneth Dalto's consulting experience with minority programs at major corporations, minority business owners need to work on the same criteria as any small business that seeks major programs.

Criteria to pass the large corporation test include Capital structure; Debt structure; Capital expenditure needs; Costing structure; Management systems; Cost control systems; Managerial skills; Employee skills and training programs; Banking relationship; Break-even structure; Conformity with major corporation standards; Location and infrastructure; Accounting systems; Quality control systems.

Following the panel, Nancy Quarles, PhD., President of the Southern Oakland County NAACP stated that the information shared and the business insight that was "provided in an effort to enlighten, motivate and empower those in attendance was invaluable." The panelists themselves were very pleased with the quality of the audience. Says Kenneth Dalto: "My co-panelists' presentations were extremely interesting. I was very pleased with the level of interest, motivation, and insight of the Southern Oakland County NAACP audience."

About Kenneth J. Dalto & Associates:

Kenneth J. Dalto & Associates is a business management and financial consulting firm based in Farmington Hills, Michigan. The firm specializes in assisting companies to overcome the most challenging phases of their business life: financial distress; access to capital investment; issues related to business development, growth, market downturn, corporate crisis, restructuring, turnaround, and return to profitability.