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SBA: How these cities support Latinx small businesses, J.Lo. fireside chat

The SBA (U.S. Small Business Administration) Administrator Isabella Casillas Guzman announced today the full speaker slate for National Small Business Week, including entrepreneur Mark Cuban, Chef José Andrés, and White House Senior Advisor and Director of the Office of Public Engagement Cedric Richmond.  The National Small Business Week Virtual Summit takes place September 13-15, 2021.

 

Photo Credits: Mark Cuban (Wikimedia Commons – Gage Skidmore from Peoria, AZ, United States of America – Mark Cuban & Doug Ducey) –  Jennifer Lopez (Wikipedia Commons dvsross – Jennifer Lopez at GLAAD Media Awards.jpg) – Jose Andres (Wikimedia Commons David Shankbone – Own work José Andrés Puerta at the 2012 Time 100 gala.)

The theme for this year’s event is Celebrating Resilience and Renewal, spotlighting the resilience of America’s entrepreneurs and the renewal of the small business economy as they build back better from the economic crisis brought on by the pandemic.

Administrator Guzman will kick off National Small Business Week with an opening address on September 13. In addition to this and the new keynote speakers, other panelists and participants will include Mayor Eric Garcetti, Los Angeles, Calif.; Mayor Steve Adler, Austin, Texas; Mayor Regina Romero, Tucson, Ariz.; Mayor Lori E. Lightfoot, Chicago, Ill.; Tarik Brooks, President of Combs Enterprises, and Oisin Hanrahan, Chief Executive Officer of Angi.

Here’s how you can participate:

Photo of Jennifer Lopez

Register for the National Small Business Week Virtual Summit, September 13-15 for business tips, chat with other small business owners and connect with industry experts.

Also, hear from guest speaker Jennifer Lopez as she joins Administrator Isabella Casillas Guzman for “Pathways to Entrepreneurship: A Fireside Chat” on Tuesday, September 14.

For more information, see the Virtual Summit agenda.

Photo credit SBA

NSBW Virtual Summit Speakers Line up

Monday, September 13 – “Getting Back on Track: Resources to Build Back Better”

  • Opening Keynote Address by: Isabella Casillas Guzman, SBA Administrator (11-11:30 a.m. EDT)
  • Keynote Address by: Cedric Richmond, White House Senior Advisor and Director of the Office of Public Engagement (11-11:30 a.m. EDT)
  • Keynote Address by: Mark Cuban, Entrepreneur (11-11:30 a.m. EDT)
  • “Life after COVID – A Fireside Chat with SBA Administrator Isabella Casillas Guzman and Restaurateur Chef José Andrés”- José Andrés, Chef, Restaurateur and Founder of World Central Kitchen (12:40-1:10 p.m. EDT)

Tuesday, September 14 –Better Serving Small Businesses and Underserved Communities

  • “Support Latino Biz: How these Mayors are Leading the Way” – (3:40-4:40 p.m. EDT)
    Participants: Mayor Eric Garcetti, Los Angeles, Calif.; Mayor Steve Adler, Austin, Texas; Mayor Regina Romero, Tucson, Ariz.; Mayor Lori E. Lightfoot, Chicago, Ill.
    Moderator: Antwaun Griffin, Chief of Staff for the SBA
  • Special Remarks by: Tarik Brooks, Chief Operating Officer of Combs Enterprises, will speak on the importance of Black and Brown communities coming together to support each other. (4:45-5:00 p.m. EDT)

Wednesday, September 15 “Continuance to Support Resilience and Renewal”

  • Special Remarks by: Oisin Hanrahan, Chief Executive Officer of Angi (formerly Angie’s List), will share small business experiences as well as trends and insights on how Angi has maneuvered through the pandemic and positioned for the future.

Biographies for Keynote Speakers

Cedric Richmond: White House Senior Advisor and Director of the Office of Public Engagement
Cedric Richmond is an attorney and former Democratic Congressman for Louisiana’s 2nd Congressional District from 2011-2021. Richmond now serves as senior advisor to President Biden and director of the White House Office of Public Engagement.

Mark Cuban: Entrepreneur
Mark Cuban is an entrepreneur, television personality, and media proprietor. He is the owner of the Dallas Mavericks professional basketball team of the National Basketball Association, co-owner of 2929 Entertainment, and chairman of AXS-TV. He is also one of the main “shark” investors on the hit ABC reality TV series “Shark Tank.”

José Andrés: Chef, Restaurateur, and Founder of World Central Kitchen
José Andrés is a chef, restaurateur, and founder of World Central Kitchen, a non-profit devoted to providing meals in the wake of natural disasters.  He is often credited with bringing the small plates dining concept to America. He owns restaurants in Washington, D.C.; Los Angeles, Calif.; Las Vegas, Nev.; South Beach Miami and Orlando, Fla.; Chicago, Ill., and New York, N.Y.  Andrés received the National Humanities Medal at a White House ceremony in 2016. In 2018, Andrés’ World Central Kitchen provided meals to furloughed federal employees during the federal government shutdown.

You might be interested: Isabella Casillas Guzman confirmed as new SBA Administrator, a big win for small businesses 

Administrator Guzman announced National Small Business Week 2021 in a news release last month. The free, three-day conference will take place in a virtual atrium, which will showcase a series of educational panels on best practices for small businesses to pivot and recover in a changing economy. NSBW events this year will also provide a forum where business owners will be able to get expert advice, learn new business strategies, connect with industry experts, and meet other business owners as they look to pivot and recover. Additional speakers will be announced. Details and information will be posted on https://www.sba.gov/NSBW  as events are finalized.

To register for the National Small Business Week Virtual Summit and participate in summit workshops, please visit http://www.sba.gov/NSBW. All events will be live-streamed and will use the event hashtag #SmallBusinessWeek.

National Small Business Week delivers virtual summit for post-COVID renewal resources

National Small Business Week commences with three-day free virtual summit from September 13 – 15, 2021. 

Hosted by the U.S. Small Business Administration (SBA), virtual summit will focus on the resilience and renewal of small businesses as they build back from the economic crisis brought on by the COVID-19 pandemic. 

Photo by Sigmund on Unsplash

The National Small Business Week virtual summit will feature a variety of virtual events and activities including educational panels providing tools and practices for entrepreneurs and small businesses looking to pivot and recover post-COVID. With panels such as “The Importance of Black and Brown Community: Coming Together to Support Hispanic Heritage Month, Black History Month, and Small Business Day”, “Empowering the Veteran and Military Small Business Community”, “Unlocking the Doors to Access for Black-Owned Businesses: Funders and Founders Share Their Real-Life Stories” and more on the agenda, the diverse and inclusive summit offers resources and tools to support all business owners expand and succeed. 

Register now for the free three-day virtual summit. 

SBA Administrator Isabella Casillas Guzman. (Photo Source)

“Over the last 16 months, we have seen the incredible determination and ingenuity of small businesses across the nation.  During NSBW, we will honor and celebrate their impact on our economy and strengthening of communities as we look towards recovery,” said SBA Administrator Isabella Casillas Guzman in a video message

As the 27th Administrator of the U.S. Small Business Administration, Guzman represents the more than 30 million U.S. small businesses and is committed to helping small business owners and entrepreneurs start, grow and be resilient. 

The SBA works to empower entrepreneurs and small business owners by providing the resources and support they need to start, grow or expand their businesses, or recover from disaster. The organization delivers services through its extensive network of SBA field offices and partnerships with public and private organizations. 

You might be interested: Latina Leaders share small business post-Covid recovery resources 

“NSBW is the perfect time for small businesses across the nation to network and learn about the many services and programs at the U.S. Small Business Administration, including our no-cost business counseling and mentoring opportunities available via our district offices and resource partners. We look forward to celebrating with you as we rebuild our economy and help our small businesses build back better,” Administrator Guzman added. 

About SBA

The U.S. Small Business Administration (SBA) works to ignite change and spark action so small businesses can confidently start, grow, expand, or recover. Created in 1953, the U.S. Small Business Administration continues to help small business owners and entrepreneurs pursue the American dream. SBA is the only cabinet-level federal agency fully dedicated to small business and provides counseling, capital, and contracting expertise as the nation’s only go-to resource and voice for small businesses.

spanish children's books

Vic Sanchez, founder of Libro Magico Amarillo, shares pandemic lessons learned and exciting future plans

Maria Victoria “Vic” Sanchez is the creator and founder of Libro Magico Amarillo, a publishing company that creates personalized Spanish children’s books that offer a mix of adventures and educational content that keep children engaged and reading longer, all while playing and having fun. Her books also serve as a tool for parents raising bilingual children, helping them foster a love and appreciation of Hispanic language and culture in their children. 

Libro Magico Amarillo, spanish children's books

Maria Victoria “Vic” Sanchez, creator and founder of Libro Magico Amarillo.

We shared Vic’s story last September and we were so inspired by her love for books and her commitment to child education. Vic began her business last June, in the thick of the pandemic–talk about a challenge! But she rose to that challenge and persevered because she believed in her vision and was ready to make her childhood dreams of telling stories a reality. 

Now, nearly a year after launching her business, Vic shares with us some lessons learned and her plans for the future, because yes, it is only just the beginning! 

Running a business during a pandemic: Lessons Learned

As many of you know first hand, running a business this past year has not been easy. Many business owners and entrepreneurs have struggled to stay afloat and adapt to the “new normal” that the COVID-19 pandemic brought upon us all. Latina business owners were disproportionately affected according to the 2020 State of Latino Entrepreneurship Report.

Despite these odds, many Latina-owned businesses found new, creative ways to THRIVE and regain their power, such as turning to Instagram to advertise and grow their businesses

You might be interested: THRIVE! What to expect from deep-dive workshops at 2021 WEES

As an entrepreneur who launched her business in the thick of the pandemic, Vic experienced her share of challenges but shares with us now her lessons learned and advice to other women entrepreneurs and minority business owners. 

Be patient and think outside the box 

“Things take time,” she says, “and we need to be patient, thinking positively, while we continue working on what we believe in.” (Photo courtesy Maria Victoria Sanchez).

One key lesson Vic learned this past year was to be patient. Worrying and stressing will not help in the long run and only lead to more anxiety. Instead, Vic learned to let go, and this has helped her manage her anxiety better and overall feel better. 

“Things take time,” she says, “and we need to be patient, thinking positively, while we continue working on what we believe in.” 

Working on a long-term project or business is not something that always yields quick results. Instead of treating it like a sprint, we must look at each project as a marathon. As the old saying goes: “Slow and steady wins the race.” If we are constantly worrying and rushing we will surely burn out quickly. But by practicing patience and continuing our work at a steady pace, we will soon see those results and feel better too. 

In conjunction with this idea of taking the slow path is another lesson learned: take a different path too! Or, think outside the box. 

When things are not working one way, “sometimes you need to reshuffle,” says Vic. If you feel stuck, consider a new perspective. There is never just one way to do something, just as there can be multiple paths to get to the same place. 

“Things will work out for the best in the end.” 

Do all things with love and collaborate

The third lesson Vic learned during the pandemic is the power of collaboration and that when you do things with love, you bring together that same positive energy to others. Vic always brings that love to everything she does and has been working to help others during the pandemic. 

“I have been dedicating a lot of my efforts to doing pro bono work for fellow entrepreneurs,” Vic shares. “Some weeks ago I participated in a conference for entrepreneurs in Patagonia, where I am originally from. I am happy to help in any way.” 

To other women and minority entrepreneurs, Vic says to join in by collaborating with others and seek help when you need it. 

“This pandemic has been especially hard for women, for caregivers, and for minority women. There are amazing organizations, like Latinas in Business, bringing mentoring and educating us. If you need help, speak up! We are all here to help one another. Nothing can stop what you set your mind to. Women are serious, focused workers. We get things done.” 

Help support El Libro Magico Amarillo!

The future is bright and a year after launching her business, Vic is ready to expand and take things to the next level, but this dream cannot be achieved alone. 

“We are working on a crowdfunding campaign to produce two new books and accelerate our digital marketing efforts,” says Vic. “We want to reach out and impact more families, connecting kids with books and loved ones. Books can always provide a refuge for kids, as we have seen during the pandemic.” 

The upcoming Kickstarter will work to accelerate the company’s growth and produce two new books. 

“My dream is to grow our inventory and with this campaign we hope to do so with two new books. One is about the myth of the minotaur and the other one is about El Dia de los Muertos, as homage to all Latinas from Mexico.” 

spanish children's books, Libro Magico Amarillo

Libro Magico Amarillo’s current Spanish children’s books.

To support Vic and her dream she asks that people subscribe to El Libro Magico Amarillo’s newsletter by registering on their site. The newsletter will keep subscribers up to date when the campaign launches. 

“The only way we can succeed is through the generous support of all you Latinas! Please subscribe to our site and follow and share our campaign with friends and contacts when we launch. This is our first crowdfunding project ever and it would be great to have your support and good energy!” 

As fellow Latinas, minority business owners, and entrepreneurs it’s so important that we support each other. So let’s all give some love and support to Vic and El Libro Magico Amarillo.

Subscribe to the newsletter!

SweetLove gifts founder on growing a small business during the pandemic

Lourdes “Lulu” Carey is the owner of SweetLove gifts, an online gift shop that personalizes anything you can think of, from wine bottles to balloons and surprise boxes. Her growing business is still new, but Lulu is proud of what she has accomplished so far and the support she has received from her community. 

SweetLove gifts

SweetLove gifts is your one stop shop for personalized items for birthdays, holidays, anniversaries and more!(Photo courtesy Lulu Carey)

Growing a small business during the pandemic: Support is key

Lourdes Lulu Carey,

Lourdes “Lulu” Carey, owner and founder of SweetLove gifts. (Photo courtesy Lulu Carey)

Born and raised in Monterrey, Mexico, Lulu has a Bachelor’s degree in International trade. She moved to New Jersey nearly 10 years ago and resides in Chatham now with her two young boys, Joseph and Austin, and her husband, Joe. A full time mom and Local Consultant for Cultural Care Au Pair, Lulu decided to start her small business, SweetLove, after discovering her creative side this past year. 

“It’s been definitely a challenge to start building a name and a small business during a difficult time for everybody, but I have been blessed to have people around me who support me in all the ways they can,” says Lulu. “My business is still small, but is growing little by little. I couldn’t be prouder of where it’s going.” 

Lulu is still in the early stages of her business, but she has already learned so much and is excited for the future of SweetLove. She is especially glad to have been part of so many special moments for her clients already, like birthdays, graduations, Mother’s and Father’s Day, and other holidays.

“Each and every one of my products are made with so much love. I work hard and do my research to give my customers the best quality. This is just the beginning of a business that I have put all my love and energy into.” 

Lulu is grateful to all those who have supported and helped her on her entrepreneurial journey so far. As every entrepreneur and business owner knows, having a strong support system is so important and invaluable when starting out. Having the support of her husband, friends, family and other local small businesses is what gave Lulu the confidence and push to keep creating early on. 

Lulu personalizes each and every product for any occasion. (Photo courtesy Lulu Carey)

“I have been very lucky and blessed to have support from my friends, community and other local small businesses, helping each other build up our businesses and social media has definitely been great,” says Lulu. 

And remember, helping a business does not always mean you have to buy a product, Lulu says. “You can share their posts, leave a positive comment, tell your friends and family to follow them on social media, etc.” 

Every little bit goes a long way to helping small businesses grow.

 

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A post shared by SweetLove (@sweetlovegifts)

Taking risks and lessons learned 

No venture is without challenges and lessons learned. Lulu shares with us a story of her first “mistake” and how she learned from the experience. 

“To me, every order and product I make comes with a story,” says Lulu. “I have been part of many special events and I treasure each and every one. There are always good and not so good stories. I remember when I first started, I had to do a delivery. The client ordered a personalized wine bottle for her best friend. Once I got to where I was delivering my order, I accidentally dropped the wine, right there in front of the client.” 

SweetLove gifts (Photo courtesy Lulu Carey)

In that moment, Lulu went through so many emotions, some she can’t even explain. She felt embarrassed and disappointed with herself. It was a simple accident, but still she couldn’t help but feel bad. Seeing the product that she spent so much time, love, and care working on to make it special for her client shattered on the floor was really upsetting. 

Still, this moment was an important learning experience for Lulu.

“I look back now and see how this moment helped me. I learned from this experience to never let a bad moment take me down, to keep giving my best, and to never stop because success will come and you have to be prepared to deal with many hard situations.” 

Many aspiring entrepreneurs may stop themselves from starting their business because they fear failure or think their ideas will not be successful. Others may make themselves dizzy with questions: Will it work? Will I get back the support I always give to small businesses? How much money will I lose? 

You might be interested: How these personalized Spanish children’s books are helping to raise bilingual children

Lulu knows first hand; she asked herself the same questions and more. Yet, even though there was a lot of uncertainty, those questions and worries did not stop her.

“I’m glad to have been part of many special moments, like birthdays, graduations, Mother and Father’s Day. Each and one of my products are made with so much love.” (Photo courtesy Lulu Carey)

“I was proud and excited to put my heart and soul into this,” she says. “And so, to all of you thinking about taking the risk and starting a new business I will say this: DO IT. All of those dreams, ideas, projects and plans that have been in your head for some time, just do it. It won’t be easy, but what is? And if somebody else is doing what you are thinking of doing, don’t worry. Like we say in Mexico, ‘el sol sale para todos.’

Support will come, in all shapes and forms and from people and places you didn’t imagine. Don’t let anything stop you, and get to work on your dreams!”

National Conversation with Latina Leaders, Latina Small Business Post-Covid Recovery,

Announcing speakers for must-attend National Conversation with Latina Leaders event

Announcing nationally recognized speakers for the “Latina Small Business Post-Covid Recovery: Resources and Trends” virtual event, to discuss what’s next for Latinas and other minority owned small businesses who have experienced extreme hardship during the Post-Covid economic crisis. 

Latinas in Business Inc. announces an extraordinary group of speakers from around the country for their second virtual National Conversation with Latina Leaders event titled “Latina Small Business Post-Covid: Recovery Resources and Trends”. 

National Conversation with Latina Leaders, Latina Small Business Post-Covid Recovery,

Join us for our second virtual National Conversation with Latina Leaders event,“Latina Small Business Post-Covid: Recovery Resources and Trends.”

The event takes place Friday, March 19 from 12:00 pm to 2:00 pm EST – 9:00 am to 11:00 am PST on Zoom and live-streamed on Facebook. For free registration to this event visit https://latina-small-business-recovery.eventbrite.com. The event is open to all entrepreneurs regardless of gender, race or ethnicity. 

The President and CEO of Latinas in Business Inc, Susana G Bauman states, “After this very challenging year, it is important to regroup and think strategically about how to recover and take charge of our businesses. I am very grateful for the response of these amazing Latina business leaders that will provide the knowledge and resources needed for businesses not only to survive, but to excel.”

Panel 1. Funding and Resources for Latina Small Business Recovery

Guest speaker: Jennifer Garcia

From CA, Jennifer Garcia, Interim CEO at Latino Business Action (LBAN). LBAN’s mission is to strengthen the United States by empowering Latino business owners to grow. Under her leadership, she oversaw four successful cohorts of the Stanford Latino Entrepreneurship Initiative Education (SLEI-Ed) Scaling Program empowering nearly 300 Latino and Latina entrepreneurs to complete this prestigious program. 

Guest speaker: Wendy Garcia

From NY, Wendy Garcia, Chief Diversity Officer at the Office of the NYC Comptroller Scott Stringer, is another confirmed panelist. Wendy Garcia is responsible for increasing contracting opportunities for Women and Minority-owned Business Enterprises (MWBEs) and managing diversity related projects across all bureaus of the agency. 

Guest speaker: Christina Fuentes

From NJ, Christina Fuentes, Managing Director – Community Development within the Community Development Division at the New Jersey Economic Development Authority (NJEDA). Christina is responsible for developing, coordinating, and managing initiatives that support community development,  such as incentives and loans along with brownfield redevelopment, historic preservation, and small business services including traditional financing, technical assistance, partnering with Community Development Financial Institutions Fund’s (CDFI)  and COVID-19 recovery programs.

Panel 2.  Trends Impacting Growth in Post-COVID “New Normal”

Guest speaker: Rosario B Casas

From Bogota-Colombia, Rosario B Casas, a Colombian born serial entrepreneur and award-winning women-in-tech advocate has been confirmed as one of the panelists for the event. She is the Co-founder of XR Americas, a NYC headquartered software company, using spatial computing for workforce skills development, as well as the Co-Founder of Business Creative Partners (BCPartnersTech) leading digital adoption and transformation for Hispanic owned businesses. Additionally, she is self-admittedly obsessed with finding more women and Hispanics using technology to solve key global challenges.

Guest speaker: Ivelisse Rodriguez Simon

From NY, Ivelisse Rodriguez Simon, the Managing Partner of Avante Capital, is currently responsible for identifying, executing, and managing investment opportunities. Ivelisse is a longtime advocate and champion for women, minorities, and the underserved and underrepresented. She holds leadership roles in several local and national non-profit organizations and even launched a philanthropic organization called We Will with her two sisters, to support and empower underserved women and minorities in the areas of healthcare, education, and financial literacy. 

Guest speaker: Lucy Pinto

From NY, Lucy Pinto, Grow with Google Program Manager, works to level the playing field for communities who face digital divides and barriers to resources needed to grow. She manages the Grow with Google Digital Coaches Program which delivers free digital skills training for U.S. Black & Latino small businesses. The program has trained over 60,000 businesses on digital tools. work on initiatives that invest in communities that are underrepresented online to untap their potential, help them succeed, and drive bottom line impact. 

“Although it is evident that throughout the United States, Latino entrepreneurs have encountered extreme difficulty, it is important to note that they have been extremely resilient and have adapted their businesses to navigate these ever-changing conditions,” Baumann continued. 

Join us and all our supporting organizations in bringing solutions to America’s backbone, small businesses, and especially minority women and Latina-owned businesses, their talent, innovation and their constant sense of purpose to support their communities. 

Click HERE for registration. You won’t want to miss this event! 

A National Conversation with Latina Leaders to address Latina Small Business recovery in Post-Covid19 economic crisis

National recognized speakers to share knowledge, resources and trends for growth at the “Latina Small Business Post-Covid Recovery: Resources and Trends” event, to give insight and support to the critical situation of millions of Latina businesses closing their doors due to the Post-Covid economic crisis.

National conversation with Latina Leaders, post-covid economic crisis, small business recovery

Latina small business post-Covid recovery, resources, and trends

Latinas in Business Inc is pleased to announce we are launching our second virtual National Conversation with Latina Leaders, gathering a stellar lineup of leaders, influencers and entrepreneurs from around the country at the “Latina Small Business Post-Covid: Recovery Resources and Trends” event. 

The event will take place Friday, March 19 from 12:00 pm to 2:00 pm EST – 9:00 am to 11:00 am PST on Zoom and Live streamed on Facebook. For free registration to this event visit Eventbrite. The event is open to all entrepreneurs regardless of gender, race, or ethnicity. 

“It is estimated that two-thirds of Latino-owned businesses will close their doors for good because of the crisis,” said Susana G Baumann, President & CEO, Latinas in Business Inc. “We want to make sure that we have a deep understanding of Latina and other minority women small business situations around the country, that our voices are heard, and that we bring solutions and perspectives to the national conversation,” she added.   

Stacie de Armas

Stacie de Armas, Senior Vice President of Inclusive Insights & Initiatives and Keynote Speaker. 

Stacie de Armas, Senior Vice President of Inclusive Insights & Initiatives and a leader within Nielsen’s Diversity, Equity & Inclusion practice, has been confirmed as Keynote speaker for the event. Through her knowledge and expertise in research and consumer behavior, she produces inclusive thought leadership and new research initiatives on diverse consumers and audiences. She is currently an active member of the Cultural Marketing Council Board of Directors, Google’s 21st Century Multicultural Marketing Council, and has received industry honors for her work in diversity marketing. 

Baumann states, “The new Administration Biden-Harris made a number of promises to be completed in their first 100 days. Among them were large-scale economic initiatives and the targeting of racial disparities. As we are a third way through, it is imperative that we discuss how these initiatives are being implemented and how there can be improvements. Clearly, we are in a crisis within a crisis. Our businesses are suffering, and therefore our families along with it. Sure, many of us have succumbed to the negative effects of the pandemic, but there is one thing I know for sure: as Latinas, if we fall, we rise back up!”

She continues, “We have heard the cries of help within our communities and we want them to know that we are here to help. It is our duty as leaders to extend a helping hand, not only sharing recovery trends and resources but also the support the community needs to come out of this crisis successfully. Please join us in this National Conversation where everybody is welcome to the table.”

Event Agenda

FRIDAY MARCH 19, 2021  – 12:00 pm to 2:00 pm EST 

12:00 pm to 2:00 pm EST- 9:00 am to 11:00 am PST

12:00 -12:05 Welcome by Susana Baumann, President & CEO, Latinas in Business

12:05 – 12:15 Opening Remarks

12:15 – 12:50 Panel 1. Funding and Resources for Latina Small Business Recovery

Context: Using February as a baseline, the analysts found that the sales of Latino-owned businesses dropped 42% in March and April and are down 21% during the 12-month period from Sept. 16, 2019 – Sept. 15, 2020. Even more troubling was the discovery that costs for Latino companies that applied for Paycheck Protection Program (PPP) funding have risen higher than their revenues in the ensuing months.

Facilitator: Pilar Avila, Latinas in Business Executive Board Member

12:50 – 1:05 Fireside Chat

Moderator: Susana G Baumann, Pres & CEO

1:05 – 1:45 Panel 2. Trends Impacting Growth in Post-COVID “New Normal”

Context: For small businesses across America, 2020 has been one of the most challenging years in history. Despite the coronavirus pandemic, small business owners have been resilient, pivoting, and adapting their business models to navigate continually changing conditions. We will discuss a few business trends that are likely to dominate in 2021, along with tips on how to position your business for growth.

Facilitator: Beth Marmolejos, Latinas in Business Executive Board Member

1:45 – 1:55 Keynote Speaker: Stacie de Armas

1:55 – 2:00 Closing Remarks

Be sure to register now at Eventbrite. You won’t want to miss it!

pacifier clips

Shop handcrafted, custom pacifier clips for your “Little Amour”

If you’re a mom, you know how babies can be with their pacifiers. They are completely attached to them–until suddenly the pacifier mysteriously disappears right when they want or need it most. Sometimes it can feel like a full time job just keeping track of every time your baby drops their pacifier. If you’re tired of chasing your baby’s pacifier, investing in pacifier clips will be a lifesaver. Pacifier clips can be added to any pacifier and clip on to your baby’s clothing, so when they inevitably spit it out, it won’t go flying off into the unknown. 

pacifier clips

“Little Amour” custom, handmade pacifier clips (Photo courtesy Christina Ochoa)

“Little Amour” is a Latina owned Instagram shop that specializes in making adorable, handcrafted and custom pacifier clips for your baby. 

“Little Amour” is born

Christina Ochoa. owner and founder of Little Amour (Photo courtesy Christina Ochoa)

“Little Amour” began as a hobby for 23 year old Christina Ochoa. Born and raised in California, Christina graduated from California State University Stanislaus with a Bachelor’s in Business Administration with a concentration in General Business. She began making her pacifier clips in her spare time as gifts for family and friends that were moms or soon-to-be moms. It was a simple, relaxing hobby and a great way to unwind and ease her mind after a long day. 

However, soon her friends and family started encouraging Christina to open her own shop to sell her handmade pacifier clips because they loved them so much. On June 26 of this year, Christina decided to finally give in and go for it! She created her Instagram business account that very day and “Little Amour” was born. 

“I decided to name my small Instagram shop “Little Amour” because I have always had a profound love for children and I like referring to them as my “little loves.” Therefore, I wanted my shop to have a Latin touch since it is Latina owned so that’s how “Amour” came upon,” says Christina. 

Growing a small business during COVID-19

Since July, Christina has been launching new pacifier clips daily. As a small online business launched during the COVID-19 pandemic, one of the biggest obstacles for Christina has been growing her following on Instagram and boosting her sales. 

“I have been patient though and I’m confident that my small business will grow and be successful,” she says. “I also know that this can be normal since I recently opened up my shop and that it takes a lot of time, hard-work, and dedication to keep a business running.” 

BPA-free and made with hewable silicone beads to soothe babies’ sore teething gums (Photo courtesy Christina Ochoa)

Christina is diligent and dedicated to growing her business and overcoming these challenges. You can find her on Instagram, posting daily or in Facebook groups dedicated to supporting local handmade small businesses. These efforts have helped her reach more people and grow her client base. 

You might be interested: 3 Marketing challenges Latina-owned businesses face

“Hecho con amour”: custom, handmade pacifier clips

“I like to live by the quote ‘Do what you love, and you’ll never work another day in your life’ because that’s exactly what I aspired to do and now I’m doing it,” says Christina. “Handmaking pacifier clips feels like a hobby and not a job because that’s what I love to do. I put my heart and soul into each clip making sure that it is made to perfection for customer satisfaction.” 

pacifier clips

Stylish and cute, each pacifier clip is fully customizable (Photo courtesy Christina Ochoa)

Each one of Christina’s handmade pacifier clips is “hecho con amor” and BPA Free and 100% safe for babies. The stylish and natural pacifier clips are made with chewable silicone beads to soothe babies’ sore teething gums.

pacifier clips

And of course, every one is “hecho con amor” (Photo courtesy Christina Ochoa)

 

“I am so eager to achieve success because making pacifier clips is something that I have grown to love and very passionate about. I also like seeing the creativity that each customer has when they request a custom clip,” Christina says.

“Little Amour” pacifier clips are baby approved! (Photo courtesy Christina Ochoa)

Most importantly, she loves receiving pictures of the babies wearing her pacifier clips.  “It brings me so much joy and that’s what motivates me to keep going,” she says.

Shop these adorable handmade pacifier clips at “Little Amour” on Instagram now and never lose your baby’s pacifier again!

financial strategies

Best use of PPP and other financing strategies for Latina business owners

Latina business owners are usually in industries that traditional funding sources are reluctant to invest in such as restaurants, beauty and the like. But sooner or later, they will need financing.  Economic times may seem challenging, but they are filled with opportunities.  In fact, this is the best time to invest in your business.  Many businesses have suffered financially.  However, the good news is that there is still capital available.  Take advantage of all the capital resources available right nowand develop your financing strategies.

What is a good financing strategy?
Financing should be part of your overall business.  You spend time on marketing, sales, operations, hiring and administration.  How much time do you spend on developing financing strategies?  A strategy consists of looking at short-term and long-term goals for your business.  All successful businesses had a plan to access capital.  For instance, Facebook raised debt and equity capital until it went public.  They had a financing strategy in place.  What are your options?

Government financing
First, take advantage of the Payment Protection Program (PPP) and Economic Injury Disaster Loans, or EDIL program loans.  Make sure you apply to both PPP and EDIL program.  Many business owners got discouraged when they heard that PPP had run out of funds.  Also, in May the SBA stopped taking EIDL applications.

Now, this has changed.  There is still PPP funding and the SBA is taking new applications for eligible businesses.  These grants and loans are probably the best for your business. Even if you had to pay back these loans, the interest rates on these loans range from 1% to 3.75%.  Also, do not get discourage if you are denied.

You can reapply as many times as you want as long as you can provide new financial documentation to support your case.  With the EIDL you have until December of 2020 to apply and reapply unless if they shut down again. You may need an agent or a business financial advisor to help you out.  Also, there are many initiatives for Latina Business Owners via the SBA and other resources.

Short-term financing options
Second, look into short-term financing options.  Prior to Covid-19 there were many online lenders who were providing business lines of credit and term loans up to 24-months.  Today, that is not the case.  Sad but true, the best online lenders such as On Deck Capital, Kabbage, and others have put lending to a halt.  Many banks are not lending to due the uncertainty in the economy, pending fed rates and also busy processing PPP loans.  As a result, short-term financing may be your only option.  These are loans are based on daily, weekly, and bi-weekly payments.  The repayment terms may range from 3 months to 12 months maximum.  How to integrate this type of capital into your financing strategy?

  1. Short-term returns
    If you are purchasing inventory and you can turn it around in 30 days, you can use short-term funding. If you gain a short-project, this capital may come in handy.2. Short-term planning
    There is saying “There is no tomorrow and there was not yesterday; if you truly want to accomplish your goals you must engulf yourself in today.” Cash flow is the blood line of any business. Integrate short-term financing into a short-term sales strategy. For instance, if you plan to increase online sales that can generate short-term cash that will help you repay back a short-term loan.3. Do not overleverage
    You may get approved for $50,000 but only use what you need.  Instead use $25,000.  This will avoid many problems in the future. Even if you do not need it use a minimal amount to establish a credit relationship4. Establish a credit relationship
    Any lender who is lending right now is assuming a huge risk. The effects of the pandemic on the economy and its recovery remain uncertain. However, if you establish an existing relationship with a short-term lender the future can only get better.  Usually, you can renew these loans when you pay off 50% of the balance or mid-way through the repayment term.  Let us assume you took out an 8-month loan. In month number 4 you can renew the loan.  This means you may be eligible to obtain more money, refinance it and obtain a better repayment term and interest rate.

Equipment financing
Equipment financing is also available in these turbulent times.  Since these loans have the equipment as collateral, they offer great terms.  Repayment terms can range from 2 to 5 years.  Furthermore, they offer monthly payments which help you manage cash flow better.

Sample of financing strategies

Quality Online Cargo Distributors was approved for $30,000 under the Payment Protection Program (PPP). They used the money to cover payroll for the next two months and rehire back existing employees.  Instead, of having the business pay for some of their personal expenses and taking the tax ride offs, they will have those expenses covered by the owner’s salary.  This way they avoid having to repay back PPP funds. In order for the PPP loan to be forgiven, at least 75% of the funds must be used for payroll costs, and 25% or less may be used for other authorized purposes. Payroll costs include: Salary, wages, commissions, or tips.  This business knows that this money will only last for two months.

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This business has other financial needs to address in the future.  As a result, they will need more capital.  With this in mind, they applied for the Economic Injury Disaster Loan (EIDL).  They were approved for $100,000 at a 3.750% interest rate with a 30 year repayment period.  Since this loan has a long-term payment repayment period, rather than using the money all at once they have developed a long-term plan.  Within that plan they considered their slow season and also new business development strategies to capture new clients due to the loss of clients resulting from the pandemic.  They know that this may take 1 year to achieve.  At the same time, they will set aside some of this money for business reserves for emergencies.

Lastly, this business applied for short-term funding and got approved for $100,000.  Instead of taking the $100,000 because the interest rate is higher; they only took $50,000.  They will use this money over a 3-month period, and they have projected to make a short-term return on the use of funds.  Also, they understand that this source of capital can serve their short-term needs on an ongoing basis.  On the other hand, the government incentives program will not be around in the years to come unless in there is another disaster.  Having a source of capital ready, when needed is important for your business.

financial strategies

Lendinero, a bilingual company that works with all types of small businesses. (Logo Courtesy Lendinero)

This business has created a strategy on how to use numerous capital resources.  More important, rather than using the money all at once they have diversified the usage according to the business short-term and long-term needs.  The biggest mistakes businesses make when obtaining funding is not having a clear plan of action and using the funds all at once.  Then, several months later you find yourself in the same position.  The most important aspect of using debt for your business is knowing how to use it and how to achieve return on investment.

This is a brief example.  This plan for this business also entailed a budget, projected profit to loss and other financial projections taking into account loan payments, accounts payables, accounts receivables, reserves, risk management and hypothetical outcomes. This requires time, but it’s worth the investment.  A business with no direction is bound for failure.

(This is a paid contribution from Lendinero, the number 1 company dedicated to find financial solutions for small businesses) 

martial arts

Martial Arts Sensen Marieangelic Martinez defeats industry stigma and work-life balance

Martial Arts and Family Fitness Center owner Marieangelic Martinez talks work-life balance, facing industry stigma, and mindset for success.