State Governor Tim Pawlenty Give the Business & Leadership Award to African Chamber of Commerce
"The African Consumer Segment" research study, commissioned by Executive Director/President of the Twin Cities-based African Chamber of Commerce, and funded by The Minneapolis Foundation, was formally presented at the 5th Annual Multicultural Midwest Marketing Conference held at the Minneapolis Hilton on April 28, 2009. Close to 200 attendees, along with local and national media representatives, welcomed the successful release of the research study.
(Vocus/PRWEB ) May 6, 2009 -- "The African Consumer Segment" research study, commissioned by Executive Director/President of the Twin Cities-based African Chamber of Commerce, and funded by The Minneapolis Foundation, was formally presented at the 5th Annual Multicultural Midwest Marketing Conference held at the Minneapolis Hilton on April 28, 2009. Close to 200 attendees, along with local and national media representatives, welcomed the successful release of the research study. Key conference discussion panelists included Martin Mohammed, Dr. Bruce Corrie, market research professor of Concordia University, David Morse of the Los Angeles-based New American Dimension research organization, and Executive Director Richard Venegar of Mutual Growth Fund in Minneapolis. Minnesota Secretary of State Mark Ritchie was a keynote speaker.
The Executive Summer of the research study noted the following issues or
topics that were covered:
| | - Relocation patterns: reasons for coming to the U.S. and length of
U.S. residency
- Language proficiency: In English and their native languages
- Values and self-identity
- Shipping habits and brand selection criteria
- Financial planning and investment
- Ownership of electronic products
- Use of English-language and African-language media
- Demographic characteristics
|
Prior to the April 28th launching, Mr. Mohammed received a special leadership recognition and award from Minnesota Governor Tim Pawlenty, withnessed by several immigrant community leaders and nonprofit executives. The Governor congratulated the African Chamber of Commerce for its leadership role in embarking a research model that will serve the African and other immigrant population groups on a statewide and national scale, as Minnesota and the United States in general exert fuller, more comprehensive, and aggressive marketing strategies in the African international markets and the global economy as a whole. The Governor was quick to underscore the strength of diversity in the state of Minnesota, stating that the African market segment, with the leadership of the African Chamber of Commerce, has exerted a vital role in forging partnerships with our diverse immigrant communities, by embarking on this comprehensive research effort. On his part, Mr. Mohammed, noted that ten years ago, the African community was new, emerging, and unsure of its place in the economic landscape of the Minnesota community. But now, Mr. Mohammed continued with pride, the African segment is seen as a vital, critical market force in the economic landscape of Minnesota as well as on a national scale as African immigrant populations exert their market presence in other major national regions throughout the United States. The African market segment is thriving and a contributing national force in the emerging economic national and global markets. Minnesota Secretary of State Mark Ritchie was guest keynote speaker; he pointed out the need to support minority-owned small businesses Richard Venegar spoke on the critical need for more investment for the immigrant community. He said his Mutual Growth Fund organization has from $5 billion to $15 billion by investing in the immigrant community and people of color.
Secretary of State Mark Ritchie noted that his office has seen a remarkable increase in business registrations coming from non-traditional immigrant communities, i.e., comprising one-third of business registrations received. Mr. Ritchie said he would follow up with the governor in strengthening collaborative partnerships between the state of Minnesota, the governor's office, and the business sector. Along this vein, Mr. Mohammed added that there is a need for training and support for minority-owned businesses to access resources and Minnesota state-initiated support. Immigrants must not only have a comprehensive understanding of business but knowledge of the tools and resources that the state can offer, including Small Business Administration training, for example.
The executive summary of the research study will be available for general release at the website of the African Chamber of Commerce: www.africanchambermn.org. Further explorations and presentations will be forthcoming. Dr. Bruce Corrie will do a special presentation of the research findings to state of Minnesota focus groups.
David Morse of the New American Dimension remarked that he was extremely pleased at the commencement of this historical, milestone research study embarked by the Chamber and Dr. Corrie, with the generous support of The Minneapolis Foundation. He thanks Mr. Mohammed and Venegar's commitment to, energy, and belief in this effort. He noted that the African immigrant populations in Minnesota and the United States have emerged as a major consumer segment. And according to Mr. Rick Aguilar, who organized the event, thirteen years ago, it was the Hispanic consumer market, with $30 billion, which has accelerated to $1 trillion today.
Mr. Mohammed painted the perspective of $50 billion of African purchasing power - the same size as the current deficit of the state of California! And California is a 5th largest economy in the world! Dr. Corrie remarked that this amount of money comprises the combined budget of 120 countries throughout the world.
Immigrants are at the forefront of the state and national economies. This study is a significant testament that paves the way to the massive immigrant purchasing power and impact on the economic growth of Minnesota and the United States.
The African Chamber of Commerce expresses its gratefulness to The Minneapolis Foundation for its generous grant; and to the New American Dimension research organization for its meticulous analyses and persistence in completing the research in a most timely manner. Previous research studies have been completed by New American Dimension on for the Hispanic and the Hmong populations.
Further further information, please contact Mr. Martin Mohammed at 612-813-0501
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