Business

Business News: October 27th – November 2nd

Taco Bama Continues Expansion

Taco Bama, which started nine years ago in Falls Church, has grown into a chain of taco restaurants. The company expanded into Rockville last year and is opening another restaurant in Gaithersburg. Another eatery is planned for Washington, DC and expected to open in the winter of 2023. Taco Bama makes each menu unique to the location with the goal of giving that neighborhood its own version of the eatery.

Opportunity for Women Entrepreneurs

The annual Tory Burch Foundation Fellowship Program is underway, offering women entrepreneurs the opportunity to grow their businesses through workshops, coaching sessions, peer networking opportunities, and a $5,000 business education grant plus access to 0% interest loans. Applicants must meet certain criteria to apply, including being a woman entrepreneur who owns the largest or equal stake in a qualifying business. Applications close November 3.

BAE Releases Second DEI Report

BAE Systems, Inc. has released Caring for our People, Culture, and Communities, the company’s second annual report highlighting the significant progress made in advancing diversity, equity, and inclusion (DEI). Caring for our People, Culture, and Communities follows A Decade of Progress, the company’s first report, which detailed efforts in the last decade to increase DEI in the workplace. The report covers employee population, employee spotlights, and an overview of the company DEI strategy and goals. Key accomplishments around senior leadership roles, accountability, and a new sponsorship program for people of color are included.

BAE Systems Contract

BAE Systems in Falls Church received a $143 million contract from the U.S. Navy to continue to support the integration of various mission equipment, combat systems, and computer programs for the U.S. Navy’s Surface Combat Systems Center in Wallops Island, Virginia.

Small Business Credit Survey

Owners and key financial decisionmakers of for-profit businesses, share your recent experiences. Did your business seek financing such as loans or lines of credit in the last 12 months? How would you rate the financial condition of your business? The Federal Reserve’s 2022 Small Business Credit Survey is open for responses, and the Virginia SBDC Network is a partner on this effort. By taking the survey, you contribute to data that directly informs the Fed, federal government agencies, service providers, policymakers, and others—ultimately benefitting your business and other businesses like yours. Take the 10-minute survey now. The survey is open to businesses currently in operation, those recently closed, and those about to launch. All responses are confidential. The survey closes November 4, 2022. Questions? Contact Grace Guynn at grace.guynn@atl.frb.org.