See something good?
If you’ve read something lately that you think belongs here on our news page, let us know! We’re constantly searching for news relevant to the Hispanic business world. Whenever something catches your eye, send the article here and we'll include it on the page.
Looking for something?
If you're having trouble finding something on our site, please utilize our search page where you can look for everything from jobs to event listings.
News and Articles
If you’ve read something lately that you think belongs here, let us know. We’re constantly searching for news relevant to the Hispanic business world. Whenever something catches your eye, send it here.
Getting Government Contracts
Published October 9, 2009 - There are many federal contracting opportunities for small businesses, but to take advantage of them you have to know the ins and outs of the government’s contracting rules and regulations. Of the more than 20 million small businesses in the United States, only about 500,000 are currently in a position to do business with the federal government. That’s not because they are the only ones capable of doing the work; it’s because they know how to get the work.
To Get a Business Loan, Know How the Bank Thinks
Published May 28, 2009 - To hear some small-business owners talk, getting a loan remains all but impossible. And yet, many bankers claim that their small-business loan volume is up significantly. So, is the small-business credit crisis over or not? At first blush, the evidence seems contradictory. On one hand, many national banks have drastically cut back small-business lending. In addition, Advanta, a major issuer of small-business credit cards, declared on May 12 that it was closing customer accounts to new charges.
Consumer confidence soars in April
Published April 28, 2009 - Hopeful signs that the worst may be over for the economy boosted Americans' moods in April, sending a closely watched barometer of sentiment to the highest level since November. The New York-based Conference Board said Tuesday that its Consumer Confidence Index rose more than 12 points to 39.2, up from a revised 26.9 in March. The reading marks the highest level since November's 44.7 and well surpasses economists' expectations for 29.5. The consumer confidence survey showed a substantial improvement in consumers' short-term outlook, including even their assessment of the job picture.
Arturo Velasquez, 1915-2009: Educational, political leader in Chicago's Hispanic community
Published April 24, 2009 - Arturo Velasquez, a Mexican immigrant who started a successful jukebox business with a single machine in his mother's taco shop, was an educational and political leader in the Hispanic community who helped many newcomers get a foothold in Chicago. Mr. Velasquez, 93, died of natural causes Friday, April 17, in his Palos Hills home, said his son Arthur.
Minding your business: Immigrants embracing entrepreneurship
Published March 30, 2009 - To hear Greg Wozniak tell it, immigrants hold an advantage in building a business. "Being an immigrant gives you an edge. You have better instincts when talking to consumers from all over the world," said Wozniak, president of Doors for Builders Inc., which has built an international market for its wooden entry doors via its Web site, DoorsForBuilders.com. Wozniak's Bensenville business had sales of $1.5 million last year, up 16 percent from 2007, despite a tough economy. Experts agree. Immigrants tend to have a drive to succeed, a tolerance for risk and a strong work ethic, all characteristics that contribute to their disproportionate rate of entrepreneurship in this country.
There’s Safety in Military Contracts
Published March 26, 2009 - While it may seem that only large corporations like Halliburton and Lockheed Martin would have a shot at lucrative military contracts, the Defense Department actually awards more than half, or $55 billion, to small businesses. And the Obama administration’s $787 billion stimulus plan promises to make even more money available.
Un diseño de planes financieros a la medida
Published March 10, 2009 - Mexicoamericano plantea que la pequeña empresa local debe ser fortalecida
Growing Hispanic community impacting business
Published February 27, 2009 - The Hispanic population is growing rapidly, and census figures estimate that by 2025, Hispanics in Illinois will make up nearly 17 percent of the state’s population, a surge of more than 1.2 million people since 1995. With that growth comes a demand for Hispanic businesses, as second and third generation families choose products and services that complement their culture. Adrian Soto sees this shift first-hand. His parents were immigrants and he, like many other young Hispanic professionals, had the opportunity to go to grow up here, attend college and, in turn, has adapted to an English-speaking business environment. It is a demographic that is growing both in numbers, and in economic power.
The Top 10 Mistakes People Make When Starting A Business
Published January 12, 2009 - What are the common mistakes that new entrepreneurs make and how can you avoid making them yourself? Here is our top 10 list of mistakes people make when starting a business:
Barack Obama's plan to stimulate economy garnering support
Published December 10, 2008 - Economists generally frown on building roads, bridges, hospitals and other projects as a tool to stimulate a sick economy. Takes too long, some say. Causes waste and inefficiency, others say. But in the middle of the worst economic crisis since the Great Depression, these reservations have been largely put aside. President-elect Barack Obama is preparing to prime the pump like Washington politicians of old, with a vast reconstruction effort designed to create 2.5 million jobs. Despite a price tag ranging from $700 billion to $1 trillion and questions about its effectiveness, the Obama stimulus package is receiving general approval from economists and public officials.
Renewed emphasis on SBA loans, advice
Published November 11, 2008 - Government construction contracts continue to roll in for Samuel Zepeda Jr., president of Vistas Construction of Illinois. The minority-owned firm recently was awarded two federal government contracts totaling $26 million to build levees in Des Plaines and Morton Grove, projects that will employ up to 50 people here for about three years, said Zepeda, who founded the South Side company in 2000. He also has 20 workers building a levee in New Orleans under a $14.5 million federal contract that will run for another 10 to 12 months
Looking for Cost Cuts in Lots of New Places
Published October 28, 2008 - When it comes to cutting costs during tough economic times, many small businesses start out with a disadvantage: They don't have all that many costs to cut. Even during good times, small businesses tend to keep expenses pretty tight. The result is that small companies often have to get creative in their efforts to find waste in places where little exists.
78 Ways for Your Small Business to Save Money in this Economy
Published October 14, 2008 - With the economy struggling, every business is trying to cut costs to make ends meet. Small businesses, which have fewer resources, especially feel the burn. Not to fear. We’ve come up with a mega-list of ways to trim the fat off your enterprise so you don’t become a casualty of the latest economic downturn.
Women Business Owners Seek Better Access to Federal Contracts
Published October 8, 2008 - Women have spent years trying to open up the system of awarding government contracts. The Women’s Business Ownership Act, which laid the groundwork for women to participate in government contracting, is now 20 years old, yet women are still getting only a sliver of the contracting pie. In 2000, Congress directed that female small-business owners receive 5 percent of federal contracts each year, now estimated to total $435 billion. But putting that mandate into effect has been a continual battle between lawmakers and the Bush administration.
Economy to Entrepreneurs: Turn Back
Published September 26, 2008 - Research has consistently shown that the share of employment and sales accounted for by small businesses tends to be more cyclical than for large ones, says David B. Audretsch, a professor at Indiana University and the director of the Max Planck Institute of Economics in Jena, Germany. When the economy expands, small businesses gain more than large companies. In an economic downturn, small businesses tend to be hit harder. Suffering the most are companies in construction, manufacturing, retailing, finance and overseas travel, says Chad Moutray, chief economist of the federal Small Business Administration. As for location, he says, “small businesses have been hardest hit in areas where the housing crisis is at its worst.”
Pain Spreads as Credit Vise Grows
Published September 19, 2008 - The latest outgrowth of the housing crisis, the breakdown on Wall Street, threatens to gradually corrode economic activity on Main Street, mainly by disabling the credit on which so many everyday transactions depend — but also by frightening people. Lenders of all types had already been raising the bar for borrowers, turning away all but the best customers. This week, they became even less willing to part with their money, further crimping budgets and family spending.
The Key to Wedded Bliss? Money Matters
Published September 15, 2008 - IF you ask married people why their marriage works, they are probably not going to say it’s because they found their financial soul mate. But if they are lucky, they have. Marrying a person who shares your attitudes about money might just be the smartest financial decision you will ever make. In fact, when it comes to finances, your marriage is likely to be your most valuable asset — or your largest liability. Marrying for love is a relatively recent phenomenon. For centuries, marriages were arranged affairs, aligning families for economic or political purposes or simply pooling the resources of those scraping by.
Private equity says 'hola' to Latino firms
Published August 6, 2008 - Large investors and Fortune 500 companies are vying for Hispanic, African-American and Asian-American consumers. Palladium especially is eyeing the 40 million Latinos who are 15% of the U.S. population. Market-research firm HispanTelligence projects U.S. Latino purchasing power will hit $1 trillion by 2010.
Colombia: The Next Chile?
Published August 5, 2008 - Colombia continues to attract foreign investors due to its economic and political climate. Will it even become the next Chile?
“High-Impact” Firms Create Most Jobs And Growth
Published August 2, 2008 - “High-impact” firms create America’s new jobs and growth, according to a study released today by the Office of Advocacy of the U.S. Small Business Administration. Distributed across all industries, high-impact firms account for almost all employment and revenue growth in the economy, the study concludes. “While high-impact firms make up about five percent of firms with employees, their effects are huge,” said Brian Headd, an economist with the Office of Advocacy. “Surprisingly, the study also shows that these firms are on average around 25 years old, they are not predominantly high-tech, and they exist in every region of the country.”
Worried Banks Sharply Reduce Business Loans
Published July 28, 2008 - Banks struggling to recover from multibillion-dollar losses on real estate are curtailing loans to American businesses, depriving even healthy companies of money for expansion and hiring. Two vital forms of credit used by companies — commercial and industrial loans from banks, and short-term “commercial paper” not backed by collateral — collectively dropped almost 3 percent over the last year, to $3.27 trillion from $3.36 trillion, according to Federal Reserve data. That is the largest annual decline since the credit tightening that began with the last recession, in 2001.
Deepening Cycle of Job Loss Seen Lasting Into ’09
Published July 2, 2008 - As automakers dropped their latest batch of awful sales numbers on the market on Tuesday, reinforcing the gloom spreading across the economy, the troubles confronting American workers seemed to intensify.
Many CEOS have visions of swirling pink slips
Published June 18, 2008 - Nearly one-third of the country's top executives expect to cut payrolls in the coming months, reflecting fallout from the housing bust as well as soaring energy prices. At the same time, a survey by the Business Roundtable, released Wednesday, showed that most executives expect sales and capital investment to remain at current levels or even improve over the next six months.
Chicago is losing its middle class: report
Published June 13, 2008 - This group shrank by 14% between 1970 and 2005, according to a report released Thursday by Brookings Institution research group. The decline was above the average slide of 10.7% for the 100 metropolitan areas included in the study, giving Chicago the eighth-largest drop in the group. The report defines middle class as workers who earn between 80% and 150% of their metro area’s median income.
City taps new HR chief
Published June 10, 2008 - Mayor Richard M. Daley on Tuesday tapped labor lawyer Homero Tristan as head of the city’s human resources department. As Chicago’s commissioner of human resources, Mr. Tristan, 37, is charged with reforming the city’s hiring practices as well as recruiting new employees, overseeing promotions and labor relations and enhancing productivity.
Study Calls for ‘Energy Revolution’
Published June 6, 2008 - The world needs to invest $45 trillion in energy in coming decades, build some 1,400 nuclear power plants and vastly expand wind power in order to halve greenhouse gas emissions by 2050, according to an energy study released Friday. The report by the Paris-based International Energy (OOTC:ILGL) Agency envisions a "energy revolution" that would greatly reduce the world's dependence on fossil fuels while maintaining steady economic growth.
Hispanics losing wages, jobs during housing slump
Published June 5, 2008 - The slump in the construction industry has hit Hispanics especially hard, causing "a dramatic reversal" in their economic gains as more become jobless while wages continue to drop, according to a study of labor statistics released today. The Pew Hispanic Center, a non-partisan research group in Washington, D.C., found that the jobless rate for Hispanics rose to 6.5 percent during the first quarter of 2008. That's compared to 4.7 percent unemployment rate for the rest of the country's population.
Restaurant Outlook Improves
Published June 2, 2008 - Owners reported increased traffic in April following record lows in recent months.
Beyond Outsourcing, to Worldsourcing
Published May 30, 2008 - Over the next several years, virtually any global company's success will depend on its willingness to reorient its view of the world map. This attitudinal—and longitudinal—shift will have enormous ramifications for business leaders, employees, and customers alike. Here's one perspective on ways to prepare and put yourself in the best position to succeed in this new environment.
U.S. City of the Year: Chicago
Published May 20, 2008 - The real Chicago isn't so easy to keep up with. It's constantly reinventing itself. Jumpy. Agitated. Impatient. It's as if the place is trembling. Move aside. Don't linger. And if you're going to dawdle, get out of the way. But what any Chicagoan will also tell you is that the past is very much present. It doesn't go away. It shouldn't. In fact, that's Chicago's lure and its beauty: its ability to take what was and figure out what could be.
Google makes health service publicly available
Published May 19, 2008 - Google's online filing cabinet for medical records opened to the public Monday, giving users instant electronic access to their health histories while reigniting privacy concerns. Called Google Health, the service lets users link information from a handful of pharmacies and care providers, including Quest Diagnostics labs. Google plans to add more.
Many Hispanics Are Hit Hard by Economic Slump
Published May 13, 2008 - The economic downturn unfolding across the United States is imposing a particularly punishing toll on Hispanics, a group that was among the primary beneficiaries of the expansion in recent years. What had been a story of broad and steady advances has given way to growing joblessness, diminishing paychecks and lost homes.
Wall St. Starts to See Signs of a Turnaround
Published May 1, 2008 - Main Street may be struggling, but Wall Street is on a bit of a roll. Despite a drumbeat of bad economic news, the stock market is up — almost 11 percent in the last few weeks. Junk bonds, those risky corporate I.O.U.’s, are rallying. The value of financial shares, bank loans, tricky credit derivatives — up, up, up.
SBA Deputy Expected to be Nominated as Agency Chief
Published April 28, 2008 - The Small Business Administration's second in command is expected to be named acting administrator if agency chief Steven Preston leaves to head the Housing and Urban Development Department, as requested by President Bush. When SBA Deputy Administrator Jovita Carranza was confirmed for her current position in December 2006, she said: "I will bring to the Small Business Administration a goal-oriented management philosophy with a history of successes on two continents."
Raising Rates Without Losing Clients
Published April 23, 2008 - With the economy in the doldrums, the question that consultants, freelancers and other solo service providers have long puzzled over — How to raise prices without losing customers — just got harder to answer. After all, a client who is also struggling is not likely to sympathize with someone else’s financial woes.
Despite Downturn, Financing Exists for Small Companies
Published April 17, 2008 - With all the grim earnings news from corporations and banks lately, not to mention the continuing credit squeeze and widespread talk of recession, it would seem that most small companies, too, would be having a hard time finding financing. But that was not the case at a recent conference in Southern California, where 1,000 investment professionals came from all parts of the United States to hear and talk to 330 aspiring companies — 50 of them from China. Many of the companies sought by investors were developing environmental, clean energy, cellphone, water treatment and biomedical technologies.
What Surveys Say About Recession
Published April 15, 2008 - Are small business owners reeling from the effects of the credit crunch and the overall downturn or brushing them off? Depends on whom you ask
Where Small Business Owners Shouldn't Cut Costs
Published April 15, 2008 - Is the economic slowdown squeezing your bottom line? If so, you're not alone. Everyone is feeling the pinch these days. If you're like most business owners, you're looking for a way to cut costs. A word of advice from the University of Wisconsin School of Business: Stay away from personnel.
Small Businesses Fight New Tax Rules
Published April 9, 2008 - Advocates for small businesses are fighting changes in tax laws that the Bush administration says are aimed at cracking down on tax cheating, particularly by the self-employed. Not all the changes proposed by the Treasury Department are aimed at small-business owners but the ones that do, those representing small business argue, will create a mountain of new paperwork that will be cumbersome and costly.
English speaking Hispanics represent 2/3 of Hispanic Boomers
Published April 8, 2008 - Marketers and advertisers have recognized the importance of Hispanic consumers for some time but have segmented within the Hispanic community primarily on the basis of language -- creating Spanish language ads and communication for the unacculturated, Spanish-speaking population while relying on their mainstream communication to reach more-acculturated, English- speaking Hispanics.
U.S. Economy: Durable-Goods Orders Drop, New-Home Sales Slide
Published March 26, 2008 - Orders for U.S. durable goods unexpectedly fell in February, led by a slump in demand for machinery, as the housing downturn and the prospect of a recession made companies hesitant to invest. The 1.7 percent drop in demand for products made to last at least three years followed a 4.7 percent decrease in the prior month, the Commerce Department said today in Washington. The department also reported that sales of new homes dropped 1.8 percent last month to a 13-year low.
Oil and Gold Prices Rise
Published March 26, 2008 - Oil prices jumped $4 a barrel on Wednesday after a United States government report showed larger-than-expected drops in fuel stocks in the world’s top consumer. Gasoline inventories fell by 3.3 million barrels, the Energy Information Administration said, more than the 800,000-barrel decline expected. Distillates dropped 2.2 million barrels, also more than forecast.
Finding Health Insurance if You Are Self-Employed
Published March 25, 2008 - If there is one issue that divides the self-employed from all other employees, it is their preoccupation with the subject of health insurance.
Business Loans Get Personal
Published March 20, 2008 - As credit tightens, entrepreneurs are seeking alternative funding methods through social lending.
Small Business 101: How to Get Started
Published March 18, 2008 - Take a good look at that store on the corner. There is a 10 percent to 12 percent chance it will not be there next year, according to the Office of Advocacy for the Small Business Administration. “If you’re new you have about a 50-50 chance of surviving five years,” said Brian Headd, an economist with the Office of Advocacy, which tracks small businesses and examines the impact of proposed regulations on them.
The most and least profitable businesses to start
Published February 7, 2008 - Entrepreneurs start companies for all sorts of reasons. Maybe they have a passion, like being in control, want more flexibility--or even hate their current jobs. But no matter the inspiration, one thing's for sure: They'd better make money. A rising revenue line might make for good cocktail conversation, but if you don't turn a profit--and keep turning one--you won't be an entrepreneur very long.
Raising Capital in an Economic Slowdown
Published February 7, 2008 - Raising capital is difficult under normal conditions, and a tight credit market and fears of an economic slowdown have made the challenge harder. Unproven early-stage companies could face a tough time finding funds from informal investors who are less willing to take risks in an unsteady economy. Firms looking for equity investments should expect to give up more ownership for less cash than during flusher times. For established businesses that are good credit risks, lower interest rates will make borrowing more attractive. Here's what you need to know.
