Hispanic entrepreneurs unite to rebuild the nation’s economy

Hispanic entrepreneurs unite to rebuild the nation’s economy

As the nation rebuilds itself from the devastating economic impact of the COVID-19 pandemic, the United States Hispanic Chamber of Commerce (USHCC) held a Legislative Summit for Hispanic Businesses to meet elected officials and develop ideas that will boost the US economy. nation.

Hispanic businesses, leaders and elected officials from across the nation gathered in Washington, DC to discuss restoring economic vitality through public policy, acquisitions, advocacy, and access to necessary technical assistance. The conference broke records with the registration of over 600 business leaders.

The USHCC presented the Defense Champion Award to US Department of Interior Secretary Deb Haaland for making history in the Hispanic business community and for being the first Native American to serve as cabinet secretary.

The USHCC presented the Defense Champion Award to US Department of Interior Secretary Deb Haaland for making history in the Hispanic business community and for being the first Native American to serve as cabinet secretary.

Secretary Haaland ran her small Salsa Pueblo canning and manufacturing company, served as a tribal administrator in San Felipe Pueblo, NM, and became the first woman elected to the board of directors of the Laguna Development Corporation, overseeing the business operations of the second. largest tribal gaming company in New Mexico. Successfully supported by Laguna Development Corporation to create policies and commitments for environmental business practices.

She is one of the first Native American women to serve in Congress, where she focused on environmental justice, climate change, missing and killed Native women, and pro-family policies.

“From adversity you create opportunities and from difficulties you find scrupulous solutions. Hispanic chambers help those businesses, ideas and opportunities take off and thrive, ”said Haaland.

According to the USHCC, Hispanic-owned companies contribute more than $ 800 billion to the US economy each year. The Biden administration has written policies to promote minority-owned small businesses and support the Hispanic community, which represents 63.5 million Hispanic Americans across the country.

The USHCC held a Legislative Summit for Hispanic Businesses to meet elected officials and develop ideas that will strengthen the nation’s economy.

However, developing and approving these policies will require bipartisan strategic unity, commitment and collaboration, according to USHCC President and CEO Ramiro A. Cavazos.

“When Hispanic businesses are successful, jobs are created and the economy strengthens. We have better goods and services. There is more efficiency, more competition and we are more competitive globally. After all, we think globally because many of us speak more than one language and we have that perspective, not insular, “Cavazos said.

“As a nation, we must continue to expand capital, education and acquisition opportunities to unlock true potential.”

The U.S. Department of Labor reported another 678,000 jobs to the U.S. economy in February, adding to the record 6.4 million jobs in 2021.

According to a Stanford University study, Hispanic-owned businesses continue to be the fastest growing segment of the US economy, with 50% of all businesses created between 2007 and 2017 of Latin origin.

Today, 4.7 million Hispanic companies employ about 1.2 million, injecting nearly $ 50 billion into the US economy, according to Miguel Estién, interim national director of the Minority Business Development Agency.

“These figures fill me with pride because, as a former entrepreneur, I know these figures take a storm beyond the economy. Our grandparents came to this country, leaving everything behind to give us freedom, education and prosperity. While entrepreneurs are bringing prosperity to America, I can still hear my grandfather say that some of the work is not done yet, “Estién said.” The work is not done because even though this community has proved its worth by adding $ 150 billion. to the US economy, economic parity is not a reality. If we were to bridge any gap between Latin-owned and white-owned businesses, Latin entrepreneurs would co-generate $ 1.4 trillion in additional revenue. “

According to Cavazos, the nation currently has a gross domestic product and a Latin economy of $ 2.8 trillion.

Our vision as a guiding voice in the advancement of American and Hispanic business is to grow our economy, “Cavazos said.” There are 260 Hispanic chambers across the country. Each of them is an oasis in their communities. Each one of them is an oasis in their communities. of them it was an emergency room for small businesses “.

With the approval of the Biden administration’s $ 1.2 trillion Bipartisan Infrastructure Framework last year, the Minority Business Development Act was enacted and replaced its agency’s central authority by a 50-year executive order. .

The Minority Business Development Agency will invest in and support businesses accessing government capital and acquisitions.

According to Alice Rodríguez, executive vice president of JPMorgan Chase & Co. and president of the USHCC, Hispanic-owned companies can increase their potential through equity, skills development and connections. JPMorgan Chase announced in August 2020 a $ 30 billion commitment to promote racial fairness, with $ 2 billion earmarked for black or Latino businesses.

“Latin Americans have the highest level of participation in work and we can continue to realize our potential, but there are many things we need to focus on,” Rodríguez said. “Even though we have a lot of good things for us, we need to peel that onion and focus on those things that will help us increase the wealth potential for the community.”

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The USHCC held a Legislative Summit for Hispanic Businesses to meet elected officials and develop ideas that will strengthen the nation’s economy.

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The USHCC presented the Defense Champion Award to the Secretary of the US Department of the Interior, Deb Haaland, Deb Haaland. From left to right, USHCC President and CEO Ramiro Ramirez, USHCC President Alice Rodriguez Haaland and Ernie C’deBaca, President and CEO of Albuquerque HCC.

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The USHCC presented the Defense Champion Award to US Department of Interior Secretary Deb Haaland for making history in the Hispanic business community and for being the first Native American to serve as cabinet secretary.

USHCC_Conf.DC_SarahBerjan_6.Jpg: USHCC President and CEO Ramiro A. Cavazos said policies that promote minority-owned small businesses will require bipartisan strategic unity, commitment and collaboration.