businesses

Future Returns: The Investment Opportunity of Latino-Owned Businesses

By Dorothea 7 months ago

Latinos are a fast-growing, young segment of the U.S. population that’s also highly entrepreneurial, yet businesses that Latinos start often struggle to get the financing they need to grow and succeed. 

These businesses are among the “most overlooked opportunities for investors,” the Boston-based Bain & Co. wrote in a report released earlier this month. 

According to the report, in the decade from 2007 to 2017, 50% of net new businesses in the U.S. were started by Latinos. And many of these businesses outperform their white-owned peers until they reach about US$1 million in revenue. 

That’s because many of them fund their growth by loading up on high-cost debt, or mortgaging their homes, “all the things that are a problem when you’re scaling” a business, says Hernan
Saenz,
a partner at Bain and co-author of the report.

Young businesses would be better off financing their initial growth with low-cost loans from

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LA County Moves to Increase Opportunities for LGBTQQ-Operated Businesses

By Dorothea 8 months ago

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Los Angeles County Friday announced a change to its Community Business Enterprise (CBE) certification program, with the aim of improving opportunities for LGBTQQ-owned businesses to land county contracts.

The county’s Department of Consumer and Business Affairs added the LGBTQQ+ certification to create “a new pathway for businesses owned by lesbian, gay, bisexual, transgender, queer and questioning individuals to engage in county procurement opportunities,” according to a department statement.

“It is essential that county dollars are reinvested in our diverse business community that were most impacted by the pandemic,” the department said.

“Through this and similar initiatives we ensure that county procurement becomes a tool to grow and support businesses throughout our recovery and beyond.”

The new LGBTQQ+ certification is the latest addition to the CBE, which helps ensure that businesses owned and controlled by economically and socially disadvantaged people can compete for county contracts.

The county’s “CBE

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Bloomington offering businesses opportunity to man Grossinger Motors Arena concessions, city manager says staff still scouting for shows

By Dorothea 8 months ago

BLOOMINGTON, Ill. (WMBD) — The city of Bloomington is offering local businesses an opportunity at the city’s Grossinger Motors Arena.

City staff are calling on interested businesses to man concessions stands within the arena for the two events scheduled to take place at the arena next month. In partnership with the city, a business would be responsible for 100% of food, beverage and staffing of the stand.

City Clerk Leslie Yocum said it’s a unique way to allow businesses to recoup some income after the pandemic forced many into temporary closures as well as a means of advertising. Yocum said they’re still working out how much income a partnering business would receive from working the events.

“We haven’t exactly fine-tuned what that arrangement will look like. I think honestly we need to see that there’s an interest in the community from these businesses, but we’re completely open to a share

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Pa. lawmakers move to help more small diverse, veteran-owned businesses land government contracts

By Dorothea 8 months ago

Legislation to improve small diverse and veteran-owned businesses’ opportunities to land state and local government contracts got a push from Gov. Tom Wolf on Monday.

The impetus for the bill grows out of a 2018 statewide disparity study that found women, minority and veteran-owned businesses were underrepresented in the commonwealth’s contracting system.

“The free market does not work optimally when some people are shut out of that market. A system that only allows the known and the familiar faces to succeed is a system that misses out on the best chance to grow, to thrive and to innovate,” Wolf said.

“If we want a level, economic playing field, we need to make sure everyone has a fair shot.”

The legislation, which has been introduced in the House and Senate, lowers the barriers for small businesses to compete for government contracts. It offers more flexibility in how a small business is

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