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| Latino Chamber of Commerce of Monmouth County |
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| Lt. Governor and Secretary of State Kim Guadagno |
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| Wells Fargo Bank |
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“RESOURCES FOR BUSINESS GROWTH” workshop was organized by The Latino Chamber Of Commerce of Monmouth County, sponsored by the Wells Fargo Bank and supported by the Office of Lt. Governor and Secretary of the State of NJ. The event was held May 2nd, 2013 at the facilities of the Sheraton Eatontown Hotel. The “Resources for Business Growth” event was a complete success with an attendance reaching over 140 people. It benefited many of the small Latino business owners that came from almost every significant city of Monmouth County as well as from outside the County; North Jersey, New Brunswick, Connecticut, Ocean, Atlantic City, and others. There were many State and other Agencies participating in the event. These included: Wells Fargo Bank, NJ Board of Public Utilities, NJ Business Action Center, NJ Community Capital, NJ Department of Labor and Work Force Development, NJ Division of Revenue, NJ Economic Development Authority, NJ Small Business Development Center at Brookdale Community College, Monmouth Library, UCEDC and FEMA.
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| The Team included State Agencies, Wells Fargo Bank, Brookedale Community College, FEMA and the Latino Chamber of Commerce. |
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”. Rodriguez said that it was his wish that at the conclusion of the event, each one of you could say “I have taken advantage of the resources that were available here today and I am going back to operate my business or start my new business feeling good because the concerns I had were resolved”. He also stated a few ideas for the benefit of the small Latino business owners as follows: An Idea is to create a product or deliver an outstanding service which is better than your competition. Clients go to you because you are the best at what you deliver. Greed may be a bad word, but profit is not. Find a way to increase it. Accounting is important; running a business without timely and accurate data may lead to a complete business failure. Adequate cash flow is important, even when sales are high if you do not have adequate financing at thestart of a business as well as an on-going cash flow can destroy a business. It is also important to timely support the evolution of your product or service model consistent with changing times or your competitors will get ahead of you. It is important to have a strong management, leadership, vision for customers, great employees and a well define business mission. Rodriguez said that the estimated purchasing power (disposable income after taxes for goods and services) of the Latinos on a national level has risen from $212 billion in 1990 to $1.2 trillion in 2012 and it will reach 1.5 trillion by 2015 or a growth of about $100 billion per year over the next three years.
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| Louis Rodriguez, Executive Director, Latino Chamber of Commerce of Monmouth County, Rebecca Cinquerana, Community Banking District Manager, VP Southern Ocean, Wells Fargo Bank and Abraham Lopez, the Executive Director of The Center for Hispanic Policy, Research and Development. |
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It is estimated that when we compare this number to the economies of other countries of the world its magnitude is equivalent to the 14th largest economy in the world. U.S. Latino buying power will grow faster than any of other minority groups. Monmouth County has about 65,000 Latinos or 10% of MC population. However small, we certainly do contribute to the economy of MC and through you, the small Latino business owners, we contribute to the employment of NJ while providing goods and services to everyone.
In closing, he emphasized the need for the Latino Business Owners to ask questions so that they can get resolutions to problems they may have. The small business owners had the opportunity to ask questions, obtain technical guidance, establish available incentives, available training programs for business owners and/or their employees and obtain a wealth of information related to their business and how to make it a better business. The technical information and the opportunity to discuss with a professional their unique concern would be provided by the participating NJ Government, Wells Fargo Bank and other Agencies stated above.
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Rebecca Cinquerana, Community Banking District Manager, VP Southern Ocean, Wells Fargo Bank event sponsor presented the qualifications and experience of Wells Fargo Bank in serving the Small Latino Business owners. She spoke both in English and Spanish.
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The Lt Governor, Kim Guadagno, initiated her remarks by thanking Abraham Lopez for being able to make things happen when it comes to reaching out to the Latino community. She said that Abraham Lopez is the Executive Director of The Center for Hispanic Policy, Research and Development, having direct access to the Governor and everyone here should know him well. The Lt Governor stated that she had no idea that she had such lengthy relationship with Louis Rodriguez and thereby with the Latino Chamber of Commerce of Monmouth County for so many years.
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And because of this relationship is that the many Trenton Agencies were there to provide support to the small business owners of Monmouth County. The goal here today, she said, is to share with you the resources that you have available by bringing to you the information available rather we trying to figure out what we can do for you in Trenton. I want to give you confidence and the information so that you can grow your business and perhaps make a decision to hire one or two more people. This administration has done a lot to reach out to the large corporations but the real, the real, movers and shakers, in terms of unemployment, are here in this room. We have been trying to get this event organized for a long time but as a result of hurricane Sandy we were not able to. She also emphasized that the Governor had assigned her as the key person to cut through the red tape and to make sure that things get done within a shorter time. She said that her office is located around the corner from the Governor’s office. Again, she said that anyone with real problems should contact her office that she will make every effort to resolve all problems affecting business growth. She said that there 230,000 business throughout New Jersey and if each of these business hire one person the unemployment rate in New Jersey will be reduce to acceptable limits. She emphasized that she would like to see the unemployment rate in Monmouth County to go down.
She said that she was wondering if those present knew that the current administration had reduced their State taxes during the last three years by 25 percent. And that she also wondered if they were currently involved in research and development that the current administration had double the tax incentives over the last three years for their business to grow. She was also wondering if they knew that large corporation can buy you out when your businesses are experiencing significant loses. These are issues that can be discussed here today. The Lt Governor introduced Liz MacKay as the contact person which ready in Trenton to assist any small business owners in meeting individual objectives.
The Lt Governor initiated her remarks by thanking Abraham Lopez for being able to make things happen when it comes to reaching out to the Latino community. She said that Abraham Lopez is the Executive Director of The Center for Hispanic Policy, Research and Development, having direct access to the Governor and everyone here should know him well. The Lt Governor stated that she had no idea that she had such lengthy relationship with Louis Rodriguez and thereby with the Latino Chamber of Commerce of Monmouth County for so many years. And because of this relationship is that the many Trenton Agencies were there to provide support to the small business owners of Monmouth County. The goal here today, she said, is to share with you the resources that you have available by bringing to you the information available rather we trying to figure out what we can do for you in Trenton. I want to give you confidence and the information so that you can grow your business and perhaps make a decision to hire one or two more people. This administration has done a lot to reach out to the large corporations but the real, the real, movers and shakers, in terms of unemployment, are here in this room. We have been trying to get this event organized for a long time but as a result of hurricane Sandy we were not able to. She also emphasized that the Governor had assigned her as the key person to cut through the red tape and to make sure that things get done within a shorter time. She said that her office is located around the corner from the Governor’s office. Again, she said that anyone with real problems should contact her office that she will make every effort to resolve all problems affecting business growth. She said that there 230,000 business throughout New Jersey and if each of these business hire one person the unemployment rate in New Jersey will be reduce to acceptable limits. She emphasized that she would like to see the unemployment rate in Monmouth County to go down.
She said that she was wondering if those present knew that the current administration had reduced their State taxes during the last three years by 25 percent. And that she also wondered if they were currently involved in research and development that the current administration had double the tax incentives over the last three years for their business to grow. She was also wondering if they knew that large corporation can buy you out when your businesses are experiencing significant loses. These are issues that can be discussed here today. The Lt Governor introduced Liz MacKay as the contact person which ready in Trenton to assist any small business owners in meeting individual objectives.
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| The Wells Fargo Bank Team |
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