Expanding The Power of U.S. Latinos

2017 News & Articles

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  • 12/06/2017 7:15 PM | TLC Team (Administrator)

    The Honorable Hector V. Barreto is the Chairman of The Latino Coalition (TLC), one of the largest and most effective Latino advocacy groups in the U.S. Barreto served five years as the Administrator of the U.S. Small Business Administration and held the SBA to record heights of support for small businesses, especially minority and female entrepreneurs, by leveraging a loan portfolio that exceeded $60 billion.

    Barreto's community service includes being the founder and former chairman of Business Matchmaking, a highly recognized non-profit that has helped small business owners gain access to government and corporate procurement representatives. Barreto is also a member of the board of the U.S. Chamber of Commerce and serves on its council for small business.

    He has been inducted into the Minority Business Hall of Fame and recognized by many organizations including the U.S. Congress, the California State Senate and Assembly and the American Red Cross. In 2006 he was presented with the prestigious Aguila Azteca Award by President Fox of Mexico.

    Barreto is the author of The Engine of America, a book dedicated to motivating and inspiring entrepreneurs through real life stories and the winning formulas of successful business leaders.

    Interviews with Hector Barreto click here.

  • 12/01/2017 3:54 PM | TLC Team (Administrator)

    WASHINGTON, Nov. 30, 2017 /PRNewswire-USNewswire/ -- Latino Americans are starting businesses at three times the rate of the general population thus playing an important role in driving US economic vibrancy through their outsized contribution to new business creation. However, Latino-owned businesses (LOBs) fail to scale in size and revenue at the same rate of other businesses, presenting an opportunity gap of $1.38 trillion for the US economy. In order to address the untapped potential of LOBs and its cascading effect on the wider economy through unrealized economic growth, the Aspen Institute Latinos and Society Program released the report Unleashing Latino-owned Business Potential.

    The report emanates from the Aspen Institute Forum on Latino Business Growth, a convening of 27 cross-sector leaders and stakeholders. It identifies key challenges and solutions to scaling Latino-owned business (LOBs), specifically those with the potential of reaching $1 million or more in revenue, a group of businesses that is often overlooked. Focusing on fundamental business needs as well as overarching recommendations for improving the ecosystems within which LOBs operate, the report offers collective knowledge and solutions in order to help stakeholders, influencers and decision-makers take informed actions to help accelerate the pace at which LOBs grow, scale, and, ultimately, succeed.

    To view the launch discussion live starting at 12:00pm ET go to: https://www.aspeninstitute.org/events/report-launch-unleashing-latino-owned-business-potential/

    To read the report go to: https://www.aspeninstitute.org/publications/unleashing-latino-owned-business-potential

    A selection of the key recommendations are as follows:

    Fundamental Business Needs
      Needs Solutions
    Accessing Capital for Growth Increased access to capital, specifically "right sized" capital in the form of equity, debt, or a combination thereof that matches the needs of LOBs at various stages in their growth cycle. Re-direct large pools of capital already in the market towards equity investments in
    high-growth LOBs; Research and develop relevant and fair credit requirements for LOBs; Invest in the Community Development Financial Institution (CDFI) sector so it can make more capital available to underserved businesses.
    Increasing Access to Procurement Opportunities The ability to access and capitalize on important procurement and supply chain opportunities that foster growth. A technology-driven platform that gives
    both suppliers and buyers access to
    reviews of service, thus garnering greater
    exposure for tested and reliable LOBs;
    Increasing transparency of the
    procurement process, including reducing
    the cost, through group licensing, to
    online hubs that house procurement
    announcements through group licensing.
    Business Training
    and Education
    The availability of relevant, culturally competent, and
    convenient business training and
    education for different sectors
    and growth stages.

    Conduct a needs assessment of Latino business owner training and education needs
    in order to design and implement more responsive and sector- and scale-
    specific interventions to meet the growth potential of LOBs.

    Ecosystem Dynamics
    Power and Influence The inability of Latinos, despite their increasing numbers, to
    influence or exercise power in ways that would help facilitate
    LOB growth.
    Narrative and Brand Unhelpful stereotypes and negative narratives about Latinos and the nature of LOBs that prevent gatekeepers, lenders, and clients
    from seeing the capacity and potential of LOBs.
    Networks and Mentors Opaque and exclusionary systems, both formal and informal,
    that facilitate business opportunities, are often difficult for
    Latino business owners to access and navigate.

    "When you bring 27 diverse experts, leaders, practitioners, and stakeholders together in a retreat setting with carefully moderated dialogue, as we did this summer, you get surprising and creative results. Not only did it generate this report which uplifts a complex set of challenges and solutions to help more Latino businesses grow and flourish, but it also led to new relationships, collaborations, and the incorporation of the ideas generated into the participants' work" said Monica Lozano, Chair of the Aspen Institute Latinos and Society Program.

    "When a community is approaching 30% of the population, as the Latino population is, increased attention on ensuring their success becomes a shared national imperative. The good news is that Latinos already represent outsized levels of business creation. Just imagine what they could do if their true potential was recognized and fomented? This report identifies ways to capitalize on existing Latino potential and remove barriers that prevent greater growth and success for the economy as a whole," said Abigail Golden-Vazquez, Executive Director, Aspen Institute Latinos and Society Program.

    The report launch will feature Monica Lozano, Chairman of the Aspen Institute Latinos and Society Program, Hector Barreto, Chairman of the Latino Coalition, Alejandra Y. Castillo, CEO of YWCA USA, Gary Cunningham, President and CEO of Meda (Metropolitan Economic Development Association), and Jean Horstman, CEO of Interise. Watch the panel discussion here at 12pm ET.

    The Aspen Institute Forum on Latino Business Growth and this report was made possible through the support of Surdna Foundation, Ricardo Salinas Foundation, Woody and Gayle Hunt Family Foundation, Bank of America Charitable Foundation, Target, Comcast NBCUniversal Telemundo, Edison International and the Carnival Corporation. In addition, Verizon helped to make the launch event possible.

    Further Online Information

    To continue the conversation, please tweet @AspenLatinos and @AspenInstitute using #LatinosAdvance

    The Aspen Institute founded the Latinos and Society Program in 2015 to provide a place for Latinos and non-Latinos to learn about their shared future and jointly explore solutions to the challenges of our time. Its vision is to foster a more informed citizenry and promote the engagement of all people in securing a prosperous and inclusive future for America. This policy program convenes diverse audiences and subject matter experts to advance three important policy areas, civic participation, economic advancement and educational opportunity. The program is also connecting a pipeline of Latino leaders to Institute programs, fostering collaboration, and strengthening their networks. To learn more, follow @AspenLatinos, or visit AspenInstitute.org/policy-work/latinos-society

    SOURCE: The Aspen Institute

  • 11/29/2017 1:16 PM | TLC Team (Administrator)

    Will tax reform “bring back Main Street," as President Trump promised? This goal is admirable and important, but can only be achieved if Congress gives small businesses the tax relief they need and deserve. Early drafts of tax reform bills in the House and Senate did not treat the small-business sector as an economic equal to big corporations. This is cause for concern for small-business advocates as tax reform moves forward in Washington.

    Fortunately, the House passed an improved bill two weeks ago that included thoughtful, fair treatment of pass-through businesses. But the Senate bill was still a picture of small-business neglect — clearly prioritizing Wall Street over Main Street by leaving individual tax rates (which is how small-business owners pay their taxes) too high. Republican Sen. Ron Johnson of Wisconsin, a business owner himself, rightfully declared he could not vote for a bill that leaves behind the small-business half of the economy.

    While many argue that some tax reform is better than none, it must be pointed out that there are two economic engines in this country, and both must be running to move us forward. Big, publicly held businesses are important and deserve a tax system that will enable them to compete globally.

    But the small-business sector — made up of independently owned firms ranging from manufacturers to retail to services — creates most of America’s new private sector jobs, employs about half of the private-sector workforce and is responsible for 46% of private-sector output. If this engine is sputtering, the ship of our economy will spin or even sink.

    It is easy for politicians to say they care about small business. It is harder to put together the policies that small business needs. Part of the challenge lies in the fact that small-business owners are under-represented in the corridors of power. While a few effective advocacy organizations — including my own — do exist to give small businesses a voice, it is difficult to compete with the corporate lobbying ecosystem. Big business is well represented in Washington, with lobbyists at every fundraiser and perpetually cruising every hallway of the office buildings on Capitol Hill.

    Meanwhile, small-business owners are running their businesses, filling in themselves for any worker who calls in sick and working seven days a week to stay on top of everything from sales and marketing to facilities and accounting. And at this particular moment, they have the additional burden of figuring out what health insurance they might be able to afford in 2018, with the choices for individual and small group plans shrinking in number while exploding in cost under the so-called “Affordable” Care Act.

    Johnson played an important role in the tax-reform debate this month — he leveraged the power of his vote to shine a spotlight on Main Street, which is too easily and too frequently forgotten by our leaders in Washington. It is tremendously important that Johnson’s colleagues work with him to produce a final bill that is fair to America’s job creators.

    Trump has provided the vision of restoring economic health to Main Street, but the devil on tax reform is, of course, in the details. It is the responsibility of Congress to give both halves of the American economy — corporations and small businesses — the tax environment they need to compete and, yes, to make America great again.

    Hector Barreto is chairman of The Latino Coalition and a former administrator of the U.S. Small Business Administration.

    Source: USA TODAY

  • 10/31/2017 2:45 PM | TLC Team (Administrator)

    If Republican front-runner Donald Trump succeeds in building his border wall, it may choke off the fastest growing source of new businesses in California.

    Research released last week by UC Riverside found that businesses owned by Hispanics are being created at a significantly faster pace than all businesses in the United States, California and the inland Southern California region.

    In fact, Hispanics are proving to be the one major demographic group that is bucking a trend of diminished business formation following the Great Recession.

    Hispanic-owned businesses now comprise 37 percent of all businesses in inland Southern California — Riverside and San Bernardino counties — 23 percent in California and 12 percent across the U.S.

    The new analysis finds that from 2007 to 2012, the number of Hispanic-owned businesses grew 46 percent across the U.S., 44 percent in California, and a whopping 51 percent in Inland Southern California.

    Comparatively, the rate of growth among all businesses was much slower — 3 percent across the U.S., 5 percent in California, and 8 percent in Inland Southern California.

    The study by the Center for Economic Forecasting and Development at the UC Riverside School of Business Administration examined data from the Census Bureau’s newest Survey of Business Owners, which is published once every five years The most recent survey includes data on business owners through 2012 and was released in December.

    “For years, Hispanics have made up a large and growing share of the population and workforce of the nation, state, and inland region,” said Christopher Thornberg, director of the forecasting center and one of the report’s lead authors. “As a measure of socio-economic advancement, it is an important and positive trend to see propietorships increasing and a healthier balance developing between Hispanic business owners and workers.”

    The one negative for Hispanic businesses, according to the study, is that they tend to have fewer employees and lower revenues. The authors say that is due to the fact that Hispanic businesses are newer overall.

    HISPANICS NOW LEAD SMALL BUSINESS CREATION IN CALIFORNIA was last modified: April 15th, 2016 by Chris Jennewein

    Source: Times of San Diego

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