More than three million small businesses make up the vast majority of all of Florida’s companies, and Hispanics and Latinos own a third of them, often overcoming language, cultural, and economic barriers to do so.It’s a factor Arnaldo Oliveras took into account when he was part of the team that developed the University of Central Florida’s Hispanic Business Education and Training program. “It’s no surprise that Central Florida is a mecca for Hispanic business owners,” Oliveras said.A business owner in Central Florida and Puerto Rico himself, he’s worked with others to get them on the path to scale their businesses or start their own. He uses similar tactics that people can learn in the H-BEAT program.”I think it’s essential, especially with the influx of new businesses starting, as we speak, on a daily basis,” he said. In its third year now, H-BEAT will teach budding business owners “Business 101,” from finance, how to choose a business location, marketing, human resources, and other topics. It’s all free in the class, and it spans an eight-week period.Despite being the basics, Oliveras says, oftentimes, they’re the topics Latino and Hispanic business owners don’t know.”It’s a lack of knowledge due to a lack of access,” he said.According to the U.S. Small Business Administration, Latino business ownership across the country is the highest it’s ever been. On average this year, the agency has paid out more than 775 loans a month to Latino-owned businesses, more than double the count in 2020.As of last year, 3.1 million small businesses are operating in Florida. Latinos and Hispanics own 33.2% of them. “A large percentage of those are the ones that are driving some of the economic growth of the region,” Fernando Rivera, UCF sociology professor and director of the Puerto Research Hub, said.He added that the influx of Latinos and Hispanics to Central Florida over recent years is giving way to a boost in business. And others see it too; Colombia, Mexico, and the Dominican Republic have set up consulates in Orlando.”And that doesn’t happen by chance, right?” Rivera said. “All of these consulates understand that there’s a large population here, and there’s a very much potential to increase the commerce here, but also to export and all those type of things.”That is making Central Florida a hotspot for Latino-owned businesses and for Latinos and Hispanics to achieve the American Dream.”And that’s what we strive for, right?” Rivera said. “That’s sort of the American Dream.”This year’s H-BEAT course starts next week and runs through November.For more information on the program and other programs for Latinos and Hispanics at UCF, click here.
More than three million small businesses make up the vast majority of all of Florida’s companies, and Hispanics and Latinos own a third of them, often overcoming language, cultural, and economic barriers to do so.
It’s a factor Arnaldo Oliveras took into account when he was part of the team that developed the University of Central Florida’s Hispanic Business Education and Training program.
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“It’s no surprise that Central Florida is a mecca for Hispanic business owners,” Oliveras said.
A business owner in Central Florida and Puerto Rico himself, he’s worked with others to get them on the path to scale their businesses or start their own. He uses similar tactics that people can learn in the H-BEAT program.
“I think it’s essential, especially with the influx of new businesses starting, as we speak, on a daily basis,” he said.
In its third year now, H-BEAT will teach budding business owners “Business 101,” from finance, how to choose a business location, marketing, human resources, and other topics. It’s all free in the class, and it spans an eight-week period.
Despite being the basics, Oliveras says, oftentimes, they’re the topics Latino and Hispanic business owners don’t know.
“It’s a lack of knowledge due to a lack of access,” he said.
According to the U.S. Small Business Administration, Latino business ownership across the country is the highest it’s ever been. On average this year, the agency has paid out more than 775 loans a month to Latino-owned businesses, more than double the count in 2020.
As of last year, 3.1 million small businesses are operating in Florida. Latinos and Hispanics own 33.2% of them.
“A large percentage of those are the ones that are driving some of the economic growth of the region,” Fernando Rivera, UCF sociology professor and director of the Puerto Research Hub, said.
He added that the influx of Latinos and Hispanics to Central Florida over recent years is giving way to a boost in business. And others see it too; Colombia, Mexico, and the Dominican Republic have set up consulates in Orlando.
“And that doesn’t happen by chance, right?” Rivera said. “All of these consulates understand that there’s a large population here, and there’s a very much potential to increase the commerce here, but also to export and all those type of things.”
That is making Central Florida a hotspot for Latino-owned businesses and for Latinos and Hispanics to achieve the American Dream.
“And that’s what we strive for, right?” Rivera said. “That’s sort of the American Dream.”
This year’s H-BEAT course starts next week and runs through November.
For more information on the program and other programs for Latinos and Hispanics at UCF, click here.
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