Nina Roque, Executive Director of the National
Women’s Business Council offers the National
Women’s Business Council and the Association of
Women’s Business Centers as possible hotspots
for training, mentoring, business development and
financing opportunities.
According to Roque, Latina entrepreneurs
account for 17 percent of the total of
women-owned businesses across the United
States.
“On average, Latinas start about 401 new
businesses per day!” she shares. “The number of
Hispanic women small business-owners is growing
at a faster rate than any other racial or ethnic
segment in the country, increasing 163 percent
between 2007 and 2018. With the number of
Hispanic women expected to double by 2050, the
growth rate of Hispanic owned businesses is
expected to continue to surge.”
Both Roque and Morga’s advise to emerging
entrepreneurs is to find a mentor in their journey.
“Your mentor should be someone who
inspires you, like a Steve Jobs or Richard Jobs, as
well as someone local you can learn from, confide
in, and reach out to when things get challenging,”
Morga shares as she highlights Cool, who was
named “Baltimore Entrepreneur of the Year,” as
someone Latina entrepreneurs should look to.
“She is a powerhouse and the perfect
example of a successful Latina,” Morga continues.
“She has opened many doors for myself and
others, and her mentorship challenges the ways to
become better business owners. She asks the right
questions to help others succeed and is
continuously helping you learn new things about
yourself.”
Nina Roque, Executive Director of the
National Women’s Business Council.
When issuing advise to emerging Latina
entrepreneurs, Cool suggests they take time to
create a plan, with the input and guidance of some
of the above-mentioned resources and focus on
execution while Morga offers something a bit more
practical.
“Don’t give up!” Morga says. “Understand that
there are many barriers or walls you will face but
remain resilient. There is help at every level, and
there is always someone willing to help. Be
vulnerable and ask questions. Self-awareness is
key so you can identify your weaknesses and find
the right assistance.”
With so many opportunities available, Huerta
offers this simple yet invaluable piece of advise,
“Networking with other business owners,
colleagues, and friends is your biggest help,” she
elaborates. “By collaborating with others in your
immediate network, you can see what everyone’s
needs are, and potentially invest in and share
access to tools that might otherwise be too
expensive for a young start-up to purchase on your
own. By coming together to collaborate, you can
go after larger contracts or accounts by being able
to offer more services…and when they grow, we
grow.”
With so many businesses on the rise, one
might be concerned with the dog-eat-dog nature of
it all, but Huerta suggests that mindset is outdated.
“There’s room for all of us,” she says. “There are
already so many obstacles, we should look for ways
to help and support one another. Remember, you’re
not alone.” Juntas si podemos!
Tips from the IRS that can help business owners find
success:
* The Small Business and Self-Employed Tax Center offers valuable
information for taxpayers who file form 1040, Schedule C,E,F or Form
2106, as well as small businesses with assets under $10 million.
* The IRS Video Portal offering small business video and audio
presentations on topics of interest to small businesses, individuals and
tax professionals.
* The Virtual Workshop assists new business owners to understand
and meet their federal tax obligations. Topics include: What You Need
to Know about Federal Taxes and Your New Business, What You Need
to Know about Schedule C and Other Small Business Taxes and Tax
Forms; And How to File and Pay Your Taxes Electronically.
Want to comment or have any questions on this article?
Email us at info@latinastyle.com
LS
Corina Morga, Vice Chairman, the Maryland
Hispanic Chamber of Commerce and President
and Owner of C.R. Services.
LATINAStyle Vol . 25, No. 6, 2019 www. lat inastyle.com 35
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