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Giving a Boost to Small Business
The Latino Coalition Quickly Acts to Accelerate Economic Recovery
WASHINGTON, DC 2009 – Amid disheartening news headlines and statistics that chronicle how the present economic downturn is affecting U.S. Hispanics in a more severe way than members of other ethnic groups, the Latino Coalition has been working to ensure recovery comes fast – and equitably – to Hispanics across the nation.
While the national unemployment rate stands at 8.5%, the number for U.S. Hispanics at 10.9%, according to data from the Bureau of Labor Statistics. Similarly, the percentage of Hispanics losing jobs across several key domestic industries is higher than for other ethnic groups. Lastly, median weekly wages for Hispanic workers are lower than those of their counterparts in other ethnic groups.
One persistently encouraging sign, however, is the dynamic expansion of Hispanic-owned small businesses in America; a trend that started growing at the end of the 90s and has continued throughout this decade.
During the early stages of this recent expansion, Hector V. Barreto, Chairman of the Latino Coalition and Administrator Director of the Small Business Administration (2001-2006), was a first-hand witness to the entrepreneurial prowess of Hispanics and to the often uneven playing field’ they faced in accessing federal government resources to launch or expand their small businesses and oversaw an unprecedented growth in loans and contracts to all business particularly the emerging Hispanic Market Today, as Chairman of the Latino Coalition (TLC) and Chairman of Business Matchmaking (BMM) – both non-profit, Los Angeles-based organizations – Barreto is committed to ensuring that Hispanic entrepreneurs secure their fair share of the federal government’s annual $80 billion in small business contracts and procurement opportunities.
One such opportunity will take place in Washington, DC, on May 6th, 2009, as the Latino Coalition and BMM jointly host a day-long Economic Summit and business matchmaking event. The program is designed to facilitate tangible business opportunities for attendee. In addition, the event will keep Hispanic entrepreneurs informed of key issues that affect their businesses and create one on one meetings between certified small business owners and officials representing over 25 (to date) federal agencies and departments.
“I am grateful for my experience as a business owner and in my tenure at SBA have found a fantastic opportunity to build communities and partnerships for a stronger America,” Barreto said. “We look to our DC matchmaking event to be the biggest one we’ve yet organized, and look forward to welcoming entrepreneurs from all across the nation.”
For details on how to register for the Latino Coalition’s Washington, DC, matchmaking event visit:
About the Latino Coalition’s 2009 Economic Summit
The Economic Summit will be attended by some of the country’s most prominent Hispanic Business Leaders. The summit will also attract respected leaders in our community to discuss the issues that affect Latinos across the country. In addition, the summit will provide opportunity for participants to register for the premier Business Matchmaking event to meet with majority of Government and Corporate procurement representatives for contract opportunities. In addition to the Business Matchmaking, workshop sessions will focus on key areas important to small business, such as: newly available financing, key insurance and legal issues, healthcare development, international business landscape, etc. Visit: www.thelatinocoalition.com
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