Economic Perspectives with Hopeton Hay on KAZI 88.7 FM in Austin, TX

Archive for the ‘minority business’ Category

Challenges of Texas Hispanic Businesses Focus of September 10 Economic Perspectives

Posted by Hopeton on September 9, 2012

Dr. Elsie Echeverri-Carroll and Dr. Bruce Kellison will discuss The Survey of Texas Hispanic-Owned Businesses with Paid Employees on the September 10 Economic Perspectives at 5:30 p.m. CT.  Echeverri-Carroll and Kellison are researchers at The University of Texas at Austin Bureau of Business Research. Enclosed below is the press release announcing the survey results.

The two most critical challenges for Hispanic-owned businesses to grow are overcoming a lack of training in management and communication skills and gaining better access to markets, according to new research of Hispanic-owned businesses in Texas from The University of Texas at Austin. The study provides a fresh look at the challenges these mostly small businesses face.

The “Survey of Texas Hispanic-owned Businesses with Paid Employees”was producedby the university’s Bureau of Business Research (BBR) for the Texas Association of Mexican American Chambers of Commerce (TAMACC). The report findings are being presented today at the TAMACC annual meeting in San Antonio by the Bureau’s Bruce Kellison and Elsie Echeverri-Carroll, the principal investigators.

The university invested $155,000 in the survey through the Herb Kelleher Center at the McCombs School of Business and the Office of the President of The University of Texas at Austin. The Ewing Marion Kauffman Foundation also funded the survey.

“We were pleased to help the Texas Association of Mexican American Chambers of Commerce in studying this important economic issue,” said university President Bill Powers. “A better understanding of the challenges faced by Texas’ Hispanic businesses will allow TAMACC to identify strategies to help these businesses grow and help create jobs and new opportunity in Texas.”

“We’re paying attention to this demographic because Hispanic-owned businesses create jobs for Texans, and their ability to scale is critical to the Texas economy,” said McCombs Dean Tom Gilligan.

The survey is based on the results of a mail survey of 2,811 Texas-based Hispanic businesses with paid employees conducted between July 2011 and August 2012. Findings include:

Most Hispanic-owned businesses in Texas start small and stay small even after many years of operation.

  • Forty-seven percent of Hispanic businesses with paid employees have between 1 and 4 employees, and 73 percent have fewer than 25 employees.
  • Eighty percent of young firms (5 years or younger) have fewer than 10 employees, while 66 percent of mature firms (16 years or older) still have fewer than 10 employees.

Hispanic business owners have high educational attainment.

  • Hispanic owners of businesses with paid employees have higher educational achievements than the general Hispanic population: 77 percent of the employers have some kind of post-high-school education, compared with 34 percent of Texas Hispanics in general over the age of 25.
  • Hispanic entrepreneurs also have many years of business experience; 56 percent of respondents have more than 20 years of business experience in their current business.
  • Many of the Hispanic business owners indicated that their employees need training, particularly in team management and leadership (24 percent), business/customer relations (16 percent) and written and oral communication (14 percent).

Promoting Hispanic business ownership can increase Hispanic employment.

  • More than 80 percent of the respondents indicated that they hire mainly Hispanics or an equal number of Hispanics and non-Hispanics. These findings are in line with previous census results that show business owners tend to hire more employees in their own ethnic groups.

Hispanic business owners feel they have less access to private and public market opportunities.

  • A larger percentage of respondents agree that they do not have equal access to government and private sector customers than disagree with such statements. Moreover, while 34 percent of respondents agree that they do not have equal opportunities in the private sector, a much larger proportion — 49 percent — agree that they do not have equal opportunities in the public sector.

“The information provided has yielded valuable insights, and we hope that this report will be useful to the survey participants as well as to other business owners who plan to start or expand their businesses,” said Echeverri-Carroll, one of the study’s principal investigators. “The Bureau of Business Research at The University of Texas at Austin is pleased to have produced this study in order to help Hispanic business owners succeed and continue to contribute vital strength to the Texas economy.”

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MBDA Business Centers Assisting Minority Businesses Across the Nation

Posted by Hopeton on April 13, 2011

The U.S. Department of Commerce’s Minority Business Development Agency (MBDA)  announced $7.8 million in funding for 27 MBDA Business Centers (MBC) located across the country to boost job creation and foster the economic growth of minority firms in the United States, the District of Columbia, and Puerto Rico.

David Hinson

MBDA Business Centers assist minority entrepreneurs with access to markets, contracts and capital and offer strategic business consulting services to facilitate 21st century growth in today’s global economy.  MBCs interface directly with minority business owners and managers at the local level and provide enhanced assistance through MBDA’s national strategic partners, both within the Federal government and the private sector.

“The MBDA Business Center program has shown remarkable success, and with a renewed focus on job creation in high-growth industries that leverages global business opportunities and teaming arrangements, we’ve raised the performance bar,” said MBDA National Director David Hinson. “MBCs are catalysts for minority business development, and by investing in these centers at the local level, we will see reverberating effects throughout the national economy.”

The newly restructured MBC program extends the cooperative agreements from three to five years and expands the reach of the MBC nationwide network to meet President Obama’s challenge to out-innovate, out-build, and out-educate the rest of the world. Two new centers will serve minority businesses in Cleveland, Ohio, and Denver, Co., and join MBDA’s Business Center network.

“A new MBDA Business Center in Cleveland will not only boost the local minority business community but also create additional economic benefits for the entire region as well,” said Andrew Jackson, operator of the Cleveland MBC.

“We look forward to a operating a MBDA Business Center and building more competitive minority business enterprises both across the state and the country,” said Stan Sena, operator of the Denver MBC.

While each of the 27 centers are strategically located in areas with significant minority business activity, the redesigned program’s broad geographic focus aims to help all minority enterprises, regardless of where they are located.

MBCs will play a particularly important role in helping minority-owned businesses increase their exports. In an increasingly global economy, where opportunities are just as likely to be found overseas as they are around the corner, minority businesses are critical to achieving the goals of President Obama’s National Export Initiative.

“Minority-owned businesses excel at exporting, and with unique language and cultural connections to other countries, they are exporting powerhouses with great potential for growth,” Hinson said.

Minority business owners who are interested in receiving assistance from an MBDA Business Center can find their closest center by visiting www.mbda.gov.

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Minority Business Business Opportunities on Formula 1 Focus of March 28th Economic Perspectives

Posted by nchanel on March 28, 2011

Hopeton Hay interviews Cloteal Haynes about contracting opportunities for minority and women-owned firms on the construction of the new Formula 1 race track in Austin, Texas on Economic Perspectives on Monday, March 28th, at 5:30pm. Listen live at KAZI 88.7 FM Austin or online here: KAZIFM.org. Haynes’s firm, HEW, was hired by the developers of the Formula 1 facility to assist with the Minority-owned and Women-owned Business Enterprise (MBE/WBE) Procurement Program outreach to contractors

Developers will work closely with Haynes, HEW managing partner, who will be responsible for developing the MBE/WBE plan for the multipurpose venue that is scheduled to host its first event in 2012. In addition to assisting with outreach to local firms and minority contractor associations,  Haynes will assist in preparing MBE/WBE participation reports for the project and participate in meetings with City officials throughout the course of this project.

“The Formula 1 project represents a tremendous economic development opportunity for our city and I am excited to work with this team who is clearly committed to diversity in the construction of these world-class facilities,” said Ms. Haynes.

Haynes-Eaglin-Waters (HEW) provides general construction, construction management and MBE/WBE program management services. Established in February, 1988, the company is owned by Cloteal Davis Haynes and Kirk L. Waters who have a combined total of over 60 years experience in the construction and program management industry. Ms. Haynes has served as the M/WBE program manager for several notable Austin-area projects, including the City of Austin Water Treatment Plant No. 4, the Seaholm Plaza Development and the AISD School Bond Construction Programs for 1996, 2002, 2004 and 2008. Haynes has a masters degree from LBJ School of Public Affairs at The University of Texas at Austin.  She is also a graduate of Leadership Austin.

The Formula 1 United States Grand PrixTM 3.4-mile circuit combines modern features with details reminiscent of traditional races from the 1960’s. The surrounding landscape will allow for a maximum elevation change of 133 feet, a feature that is sure to please drivers as well as fans. In addition, the circuit includes a strategic combination of over 20 turns, including variations of classic corners such as Istanbul Turn 8, Maggots–Becketts–Chapel and Hockenheimring’s Stadium Section. The multifunctional facility, hosting the Formula 1 United States Grand Prix, is ideally situated on a 900-acre site in southeast Austin along the SH 130 corridor near FM 812.

For more information, visit www.formula1unitedstates.com.

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President of Austin African American Chamber of Commerce and Community Development Public Forum Focus of March 7th Economic Perspectives

Posted by nchanel on March 3, 2011

Clarence Goins, the new president of the Capital City African American Chamber of Commerce, will be the guest on Economic Perspectives on Monday, March 7th, at 5:30pm. Hopeton Hay will also interview a representative from the City of Austin’s Neighborhood Housing and Community Development Department about the city’s upcoming public forums for the allocation of funds for housing and community development. Listen live at KAZI 88.7 FM Austin or online here: KAZIFM.org.
Prior to joining the Chamber, Goins held several management positions with the Comptroller of Public Accounts for the State of Texas. He replaces Interim President Juanita Stephens. Goins will discuss his plans for promoting the growth and development of African American-owned businesses.
Founded in 1982, the Capital City African-American Chamber of Commerce promotes the development of African American businesses and the expansion of the business community by providing resources, technical assistance, and leadership on policy issues that enhance economic growth and by promoting convention and tourism.
For more information on the Capital City African American Chambers of Commerce, http://www.capcitychamber.org.
Also featured is a representative from the City of Austin’s Neighborhood Housing and Community Development. As a result of the African-American Quality of Life Initiative of 2005 African American businesses now have more opportunity to provide input on the plans for the federal funds before decisions are made on how the funds will be allocated.
The City of Austin anticipates cuts to federal funding from the Department of Housing and Urban Development (HUD) in fiscal year 2011-12. This federal funding assists with affordable housing, community development, economic development, and public service needs. Neighborhood Housing and Community Development invites you to provide feedback about community needs and how federal and local funds should be prioritized. View upcoming public hearings. Neighborhood meetings are listed below.
Neighborhood Meetings:
Wed., March 9th, 6 p.m. – 8 p.m.
Montopolis Recreation Center, 1200 Montopolis Dr.
512-385-5931
Tues., March 22nd, 10 a.m. – 12 p.m.
Hancock Community Center- Room 3, 811 E. 41st St.
512-453-7765
Wed., March 23rd, 6 p.m. – 8 p.m.
Parque Zaragosa Recreation Center, 2608 Gonzales St.
512-472-7142

Posted in Austin, Business, Community Development, Economic Development, Government, minority business, small business | Tagged: , | 1 Comment »

LISTEN TO INTERVIEW: The Empowerment Experiment: Buying Black Focus on February 21 Edition of Economic Perspectives

Posted by nchanel on February 20, 2011

Imagine a whole year where all your purchases were from black owned business.  This is the experiment that Maggie Anderson and her family, based in Chicago, decided to do to support Black businesses. Maggie is the author of upcoming book Our Black Year: Our Tale of Buying Black in America’s Racially Divided Economy, and co-founder of the Empowerment Experiment (EE).  Listen to my interview with Maggie Anderson by clicking here: Maggie and Monica Anderson Interview.

Anderson is speaking in Austin, Texas on February 25, 3 p.m. – 5 p.m. at The University of Texas at Austin Student Union Center at an event sponsored by the UT Austin Center for Black Business History, Entrepreneurship, and Technology.  She is also speaking on February 26, 1 p.m., at The University of Texas at Austin LBJ Auditorium at an event sponsored by the Austin Black Newcomers Association.

Maggie Anderson

According to Maggie Anderson, EE converted the family’s pledge into a positive awareness campaign about the need for increased entrepreneurship and conscious consumerism in underserved minority communities.  The goal is to trigger a smart movement where Americans of all backgrounds will unite to support quality minority businesses and ensure that the American Dream truly applies to all.  In EE, the focus on uplifting Black businesses and empowering the Black community, as this community suffers disproportionately economically because it does not engage in self-help economics – like everyone else.  Due to this problem, Black businesses do not get the same level of support as other minority-owned businesses.

Dr. Moe Anderson

Also featured, Dr. Monica Anderson of the Austin Black Newcomers Association. The Austin Black Newcomers Association (ABNA) aims to foster community engagement by providing culturally sensitive programs and a network of supportive relationships for emerging leaders. Monica “Dr. mOe” Anderson is a practicing dentist on staff with St. David’s Foundation, a bestselling author, widely published journalist, and motivational speaker.

Posted in African American, Business, Economy, minority business | Tagged: , , , , , | 1 Comment »

Census Bureau Reports the Number of Black-Owned Businesses Increased at Triple the National Rate

Posted by Hopeton on February 11, 2011

From 2002 to 2007, the number of black-owned businesses increased by 60.5 percent to 1.9 million, more than triple the national rate of 18.0 percent, according to the U.S. Census Bureau’s Survey of Business Owners. Over the same period, receipts generated by black-owned businesses increased 55.1 percent to $137.5 billion.

“Black-owned businesses continued to be one of the fastest growing segments of our economy, showing rapid growth in both the number of businesses and total sales during this time period,” said Census Bureau Deputy Director Thomas Mesenbourg.

These new data come from the Survey of Business Owners: Black-Owned Businesses: 2007. The survey provides detailed information every five years for black-owned businesses, including the number of firms, sales and receipts, number of paid employees and annual payroll.

Data are presented by geographic area (nation, state, county, city and metro area), industry and size of business. Preliminary national and state data were released in July 2010.

In 2007, nearly four in 10 black-owned businesses operated in the health care and social assistance; and repair, maintenance, personal and laundry services sectors. The retail trade and health care and social assistance sectors accounted for 27.4 percent of black-owned business revenue.

Among states, New York had 204,032 black-owned businesses and accounted for 10.6 percent of the nation’s black-owned businesses, followed by Georgia, with 183,874 black-owned businesses (9.6 percent) and Florida, with 181,437 (9.4 percent).

Among counties, Cook, Ill., had the most black-owned businesses, with 83,733, accounting for 4.4 percent of all the nation’s black-owned businesses. Los Angeles followed with 59,680 (3.1 percent) and Kings, N.Y., with 52,705 businesses (2.7 percent).

Among cities, New York had the most black-owned businesses, with 154,929 (8.1 percent of all the nation’s black-owned businesses), followed by Chicago, with 58,631 (3.1 percent), Houston, with 33,062 (1.7 percent) and Detroit, with 32,490 (1.7 percent).

Other highlights:

  • Of the 1.9 million black-owned businesses in 2007, 106,824 had paid employees, an increase of 13.0 percent from 2002. These businesses employed 921,032 people, an increase of 22.2 percent; their payrolls totaled $23.9 billion, an increase of 36.3 percent. Receipts from black-owned employer businesses totaled $98.9 billion, an increase of 50.2 percent from 2002.
  • In 2007, 1.8 million black-owned businesses had no paid employees, an increase of 64.5 percent from 2002. These nonemployer businesses’ receipts totaled $38.6 billion, an increase of 69.0 percent.
  • The number of black-owned businesses with receipts of $1 million or more increased by 35.4 percent to 14,507 between 2002 and 2007.

The Survey of Business Owners defines black-owned businesses as firms in which blacks or African-Americans own 51 percent or more of the equity, interest or stock of the business. Additional reports from the survey highlighting other minority- and veteran-owned businesses will be issued over the next year. Subsequently, separate publications will be issued highlighting additional characteristics of all businesses and their owners.

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Invisible Capital: How Unseen Forces Shape Entrepreneurial Opportunity

Posted by Hopeton on December 16, 2010

Chris Rabb , author of Invisible Capital: How Unseen Forces Shape Entrepreneurial Opportunity, is the guest on the Economic Perspectives, Monday, December 20, 5:30 p.m. – 6 p.m. on KAZI 88.7 FM.  Listen live online at kazifm.org.

Invisible capital is not any one thing. It’s a complex set of factors: our skills, knowledge, networks, resources, and experiences. These can create significant advantages, even if they are not consciously exploited. Rabb details how people can evaluate the components of their own invisible capital and develop a plan to build on strengths and mitigate weaknesses. He draws on his extensive experience as an entrepreneur, his tenure on Capitol Hill and the White House Conference on Small Business, his experience managing an urban business incubator, and his involvement with numerous family-owned businesses.

Chris Rabb is a consultant, writer, and public speaker focusing on the intersection of social identity, media, civic engagement and entrepreneurship. He is a fellow at Demos, a non-partisan public policy research and advocacy organization based in New York City. He is also a visiting researcher at Princeton University’s Woodrow Wilson School of Public and International Affairs. In 2001, Chris was awarded an American Marshall Memorial Fellowship by the German Marshall Fund of the U.S.

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Listen to Interview: Funding Opportunities For Entrepreneurs & Innovative Digital News Ideas

Posted by Hopeton on November 10, 2010

On the November 1 edition of Economic Perspectives, a wealth of information was provided on sources of funding for entrepreneurs and innovative thinkers in digital news media.  Guest Irene Mwathi discussed the agenda of the National Black MBA Association Annual Entrepreneurial Conference which will feature venture capitalists and community development financial institutions on November 12, 7 a.m. – 3 p.m. at the UT Austin AT&T Executive Education and Conference Center.  Mwathi, who is chairman of the Entrepreneurial Conference, also discussed how she was able to successfully raise equity for her technology firm.

The show also featured John Bracken discussing Knight News Challenge, an initiative which awards competitive grants from the Knight Foundation for innovative ideas for using digital media to deliver news and information to geographically defined communities.  Bracken is Director of Digital Media for the Knight Foundation.

To listen to the interview click here: Irene Mwathi & John Bracken Interview.

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Funding Symposium for Minority Entrepreneurs Focus of November 1 Economic Perspectives

Posted by Hopeton on November 1, 2010

Irene Mwathi will discuss the National Black MBA – Austin Chapter 2010 Entrepreneurial Conference on the November 1 edition of Economic Perspectives on KAZI 88.7 FM, 5:30 p.m. – 6 p.m. The conference, being held November 12 at the University of Texas AT&T Executive Education & Conference Center, is a one day funding symposium for entrepreneurs.  The 2nd segment of Economic Perspectives will feature an interview with Brian Halligan, CEO of HubSpot and co-author of Marketing Lessons from the Grateful Dead.  Listen live online at kazifm.org.

The Entrepreneurial Conference will connect Austin’s most talented African American and Hispanic talent with non-traditional funding sources. The primary focus is on those start-up or next level organizations that have business cases that appeal to venture capitalist or angel investors.  More information on the conference is available at www.iwinbusiness.com.

Irene Mwathi

Irene Mwathi is the chairman of the Entrepreneurial Conference and founder and CEO of RAI IT Consulting. She serves as a Senior Business Operations IS Consultant who oversees various client infrastructure and architecture teams in innovating and reengineering end- to-end business operations strategies to support new product development and go-to-market strategies.  Irene was born in Nairobi, Kenya and holds an MBA from the McDonough School of Business – Georgetown University and a bachelor’s degree in Computer Engineering from James Clark School of Engineering – University of Maryland.  She is currently serving as the Membership Programs Director for NBMBAA – Austin Chapter and has founded the Minority Start-Up Association of Texas (MSUA) to help minority entrepreneurs with development, education and funding opportunities.

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Minority Business Development Agency Official’s Statement on Growth of Texas Hispanic Businesses

Posted by Hopeton on October 28, 2010

Statement by Alejandra Y. Castillo National Deputy Director
Minority Business Development Agency For the U.S.Census Bureau Press Event Releasing 2007 Survey of Business Owner Data
in Dallas, TX – September 21, 2010

I want to thank our hosts for inviting the Minority Business Development Agency, a sister bureau of the Census Bureau, to be a part of today’s important announcement.

Alejandra Castillo

The Minority Business Development Agency is thrilled that the Hispanic business community, and the minority business community as a whole, is showing a significant rate of growth compared to non-minority businesses.

The figures released today show that Texas is a major contributor to the surge in the creation and growth of Hispanic-owned firms nationwide.  You can be proud to be a leader in Hispanic entrepreneurship, job creation, and business prosperity.

However, the numbers also provide us with important insight.  We must be cautious not to let these newly released facts and figures make us complacent.  There is still much work ahead to be done if we are to ensure continued economic progress. .

For example, while there are over 447,000 Hispanic-owned businesses in Texas, less than 10% have paid employees.  Just imagine if the other 90% were to grow and employ just one additional person each, Texas would reap the benefit of an additional 406,000 new jobs.

Or consider this, of all the Texas Hispanic firms, only 8,161 (or less than 2%) have gross receipts of $1 million or more.  But, if there were more firms earning in excess of a million dollars, communities across the State of Texas would reap the benefits of a larger tax base which in turn can contribute to better schools, safer streets, and more economic activity for the State and the Nation.

As the Hispanic population continues to increase in the U.S., the success of the Hispanic business community becomes an integral component to the creation of new and sustainable jobs.

This is precisely MBDA’s goal– to create the right conditions for a new generation of more robust Hispanic, and minority-owned firms.

We understand that we must help minority business enterprises (MBEs), and Hispanic firms in particular, to leverage their cultural ties and business connections both domestically and internationally.

Our goal is to position MBEs to be successful exporters of goods and services to the global market.  For example, through our Global Construction Initiative, MBDA is helping MBEs tap into global infrastructure and real estate development projects underway in the Pacific Islands, the Middle East and in other emerging markets.

Similarly, MBDA is helping to broaden the business horizons of minority owned entrepreneurs and advocating their expansion into emerging industries like solar energy, green construction, medical technologies and IT.

We have to.  It’s critical to the overall health of the U.S. economy and our communities.

And, given the tenacity and competitiveness of Texans, I have no doubt that Hispanic firms and other minority owned firms in Texas will continue to lead the way.

Thank you and I welcome the opportunity to talk with you by phone today, tomorrow or in the near future.  Please contact Ms. Bridget Gonzales, here in the audience, with any questions or requests you may have.

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