Every year the Minority Business Development Agency, a branch of the US Department of Commerce, honors one US business with the prestigious Minority Professional Services Firm of the Year Award.
The 2018 award went to Resource Management, Inc., one of the 50 largest Hispanic owned businesses. RMI is a professional employer organization, or PEO, dedicated to helping businesses develop and scale their enterprises.
MBDA recognized RMI for growing its revenue to $174.5 million and for expanding into states that do not have enough minority-owned businesses. Sixty percent of Hispanic owned businesses are concentrated in Florida, California, Texas, and New York. RMI is creating new networks and opportunities for other minority-owned businesses. RMI started in Florida and now conducts business in 38 states. The company headquarters are in Massachusetts.
The RMI team will use the award’s associated opportunities to expand their business into the Midwest. They also plan to connect with other minority-owned businesses in other regions.
One of the opportunities is the MBE certification with the National Minority Supplier Development Council. The NMSDC and the MBDA support businesses throughout the United States, owned by Hispanics, and other minorities. RMI will both benefit and help them in that mission.
Monica Chavero, RMI’s Business Development Executive, attended the MBDA conference in Austin, Texas. On October 16th, Monica Chavero accepted the award as part of the National Minority Development Week conference.
Monica said, “The MBE certification opens a lot of doors, especially to work with other minority firms. I will be more involved to make sure we take advantage of all the benefits that this organization is providing us.”
The founder and CEO of RMI, Reinaldo (Rey) Lopez, migrated to the US from Puerto Rico in 1962. He is proud that despite coming from humble beginnings, the business he started and continues to build now provides for many families. He credits his success to integrity, drive, surrounding himself with smart people, and giving back to the community.