Hysteria over recession can't scare small businesses
National Federation of Independent Business President Juanita Duggan addressed how the media fluctuates the recession discussion in relation to small businesses.
Hand-wringing about the possibility of an economic recession is very popular in today’s left-wing media environment. This speculation is inherently flawed if it only considers the Wall-Street-half of the economy.
To provide more accurate insight and meaningful predictions, pundits would do well to also (and always) consider and speak about the strength and importance of the other half of our economy: Main Street.
It is easy to feel pessimistic when Wall Street metrics soar or tumble based on the news of any given day. But while the stock market spikes and dips, small business – which is responsible for half of GDP and creates most of America’s net new jobs – is steady and doing great. Small-business owners are feeling great about the future, too.
Perhaps the hand-wringing pundits don’t know what they don’t know. Learning more about the small-business sector and its tremendous economic importance would make financial reporting more accurate and more complete.
There is truly nothing “small” about small business. Made up of millions of independent, locally owned firms, the small-business story is one of American economic stability and lasting strength.
Main Street is in fact what has always made America’s economic foundation stronger than the rest of the world. Financial analyst types might want to think of America’s multitude of smaller businesses as a diverse portfolio – there is more safety and long-term predictability to be found in a massive group of small firms than there is in a smaller group of really large ones.
To illustrate the current outstanding health of the small-business sector, a few facts:
A Small Business Index conducted quarterly by MetLife and the U.S. Chamber of Commerce revealed, last month, that small-business owners are highly confident about their local economies and their financial future. In fact, the overall score of the third-quarter Index was the highest since the inception of the study. Nearly 30 percent of the business owners surveyed said they plan to increase their business’ staffing in the next year.
It is easy to feel pessimistic when Wall Street metrics soar or tumble based on the news of any given day. But while the stock market spikes and dips, small business – which is responsible for half of GDP and creates most of America’s net new jobs – is steady and doing great.
Another prominent indicator of small-business economic health, conducted monthly by the National Federation of Independent Business, has been at historically high levels since 2017. The NFIB index considers small-business sentiment (optimism) as well as factors like capital outlays, sales, pricing and plans to hire. In August, NFIB reported that 28 percent of business owners were planning capital outlays in the coming months. A similar number reported their No. 1 problem was finding qualified workers – in other words, their greatest challenge had to do with keeping up with their own growth and success.
When considering the historic growth and optimism happening on Main Street, it seems irresponsible for pundits and journalists to continue painting a pessimistic economic picture. Are they unaware of the economic importance of small business, or do they actually want the economy to falter, for political purposes? A recession would damage President Trump’s chances of re-election.
Perhaps the hand-wringing pundits don’t know what they don’t know. Learning more about the small-business sector and its tremendous economic importance would make financial reporting more accurate and more complete. More talk about small business – including the sector’s current growth, historic optimism and overall strength – might even change some minds about the threat of recession.
Hector Barreto is the chairman of The Latino Coalition and the former U.S. Small Business Administrator.
Source: Fox Business
More than 4.4 million Latino-owned businesses in the U.S. contribute over $700 billion to the U.S. economy
NEWS PROVIDED BY
The Latino Coalition
Oct 01, 2019, 16:35 ET
WASHINGTON, Oct. 1, 2019 /PRNewswire/ -- On September 24, The Latino Coalition (TLC), the nation's leading non-partisan advocacy organization representing Hispanic businesses and consumers, hosted U.S. Treasurer Jovita Carranza and Florida Lieutenant Governor Jeanette Nuñez during the Latina's Prosperity Summit at the Capital Hilton in Washington, D.C.
"Last week, the Latina's Prosperity Summit convened hundreds of entrepreneurs who are unleashing the dynamic potential of small business daily. We heard fresh, inspiring and practical approaches to doing business, but what resonated most was the extraordinary impact entrepreneurship is having on our nation's robust economy," said Hector Barreto, TLC's Chairman and former U.S. Small Business Administrator.
With an emphasis on Latinas in business, the one-day event celebrated Hispanic Heritage Month by recognizing the entrepreneurial power and success of the Latino community. Bringing together government officials, knowledgeable speakers and entrepreneurs from around the globe, the summit afforded guests with high-impact panels and networking opportunities to expand and grow their business.
During the summit, Treasurer Carranza applauded the achievements of Hispanic entrepreneurs saying, "Small business is a vital component to our nation's economy," said U.S. Treasurer Jovita Carranza. "Businesses owned and operated by Latinos have significantly grown in the last decade, totaling 4.4 million Hispanic-owned firms contributing more than $700 billion to our economy. I'm optimistic that Latinos will continue shaping the prosperity of this country."
She went on to emphasize Latina entrepreneurship surging at historic levels with the most recent census showing 44% of Hispanic-owned firms having Latinas at the helm.
Also praising Hispanic entrepreneurship was Florida's first Latina Lieutenant Governor, Jeanette Nuñez.
"Nothing reverberates the American Dream louder than entrepreneurship and owning a business," Nuñez said. "Fueling growth and creating opportunities at a dramatic rate, Latina entrepreneurs are spearheading the economic resurgence of America, as the demographic three times more likely to start a business."
Distinguished panelists and speakers for the day also included: Ambassador of Mexico to the United States, Martha Barcena Coqui; Jennifer S. Korn, Deputy Assistant to the President and Deputy Director of the Office of Public Liaison White House; Wells Fargo Senior Vice President and Head of Supplier Diversity, Regina O. Heyward; Tommy L. Marks, Executive Director, Department Commerce's Minority Business Development Agency, Federal Procurement Center; Chanelle Hardy, Strategic Outreach and External Partnership, Google; the Executive Director/Vice President of The Aspen Institute Latinos and Society Program, Abigail Golden-Vazquez, and Grammy-nominee Stefani Montiel, to name a few.
During the Latina's Prosperity Summit, TLC signed a Memorandum of Understanding (MOU) with Prospanica, an association advocating for Hispanic business professionals for three decades. Prospanica joins The Latino Coalition's network of 100+ partners working to enhance the overall business, economic and social objectives of the Hispanic community.
The TLC Leadership Award was given to Silvia Aldana, Manager of Federal Affairs for PG&E for her unwavering commitment to the Hispanic community throughout her executive career.
The "Triunfadora Award" was bestowed to Luz Veronica Morales Alfaro, VP of the National Bar of Notaries of Mexico, and to Elvira Valenzuela, Vice President Corporate Development & Legislative Affairs, East West Bank, for their leadership and life's work with Latinos.
Barreto concluded: "You cannot deny the tremendous influence of the Hispanic community on this nation, especially in the economic sector. We are starting businesses, creating jobs and growing our economy like never before. I am extremely proud that Latino's continue to make history and contribute to the success of America."
The Latino Coalition would like to thank the following Title Sponsors: Walmart, Wells Fargo, Southern California Edison, PG&E, Google and SoCal Gas. TLC also acknowledges and is grateful for its partners: Hispanic Business Roundtable Institute, Educación por la Experiencia, PhRMA, The Latino Coalition Foundation, Edison Electric Institute, California Resource Corporation, AltaMed Health Services Corporation, The Coca-Cola Company, Univision, Comcast, T-Mobile, Verizon, AT&T, Intuit, Guardian, U.S. Chamber Institute for Legal Reform, The Libre Institute, Project Education, Laneige, Nominak, Herbalife, NCTA, EccoSelect, Cuellar Entreprises, MasterCard, Altria Client Services, East West Bank and RSS.
ABOUT THE LATINO COALITION- The Latino Coalition (TLC) was founded in 1995 by a group of Hispanic business owners from across the country to research and develop policies solutions relevant to Latinos. TLC is a non-profit nationwide organization with offices in California, Washington, DC and Guadalajara, Mexico. Established to address and engage on key issues that directly affect the well-being of Hispanics in the United States, TLC's agenda is to create and promote initiatives and partnerships that will foster economic equivalency and enhance and empower overall business, economic and social development for Latinos. Visit www.thelatinocoalition.com or follow us at #LatinaSummit.
SOURCE: PRNews Wire
Modernizing existing PURPA regulations fosters increased competition in today’s evolving wholesale power markets and reduces unnecessary costs to consumers.
WASHINGTON, D.C. – The Latino Coalition (TLC), the nation's leading non-partisan advocacy organization representing Hispanic businesses and consumers, applauds the Federal Energy Regulatory Commission (FERC) for voting to issue a notice of proposed rulemaking (NOPR) to modernize implementation of the Public Utility Regulatory Policies Act of 1978 (PURPA).
“The NOPR represents a wise effort by the FERC to streamline implementation of an antiquated regime, enacted over 40 years ago when the United States was experiencing a national energy crisis,” said TLC Chairman Hector V. Barreto. “These changes will better address consumer concerns and market changes in the energy landscape, especially for the Latino community. TLC applauds these efforts by FERC to permit states more flexibility to rely on competitive prices in setting QF rates and to make certain other changes to address implementation issues that have arisen over the years. TLC agrees with the notion that electric companies should not be burdened by unnecessary regulatory hurdles that drive up costs for consumers.”
About The Latino Coalition
The Latino Coalition (TLC) was founded in 1995 by a group of Hispanic business owners from across the country to research and develop policies solutions relevant to Latinos. TLC is a non-profit nationwide organization with offices in California, Washington, D.C. and Guadalajara, Mexico. Established to address and engage on key issues that directly affect the well-being of Hispanics in the United States, TLC's agenda is to create and promote initiatives and partnerships that will foster economic equivalency, and enhance and empower overall business, economic and social development for Latinos. For more information, visit www.thelatinocoalition.com.
Washington, 24 sep (EFEUSA).- "Las latinas están empezando negocios cinco veces más rápido que cualquier otro grupo en Estados Unidos", dijo hoy a Efe el presidente de la organización empresarial conservadora The Latino Coalition, Héctor Barreto, al valorar el aporte de la comunidad hispana a la economía del país.
"Ya tenemos cuatro millones de empresas latinas que están generando casi 800.000 millones de dólares de ventas cada año y esos números se pueden doblar cada cinco años", añadió Barreto, veterano republicano que trabajó en el Gobierno de George W. Bush.
The Latino Coalition celebró este martes el encuentro "Latina's Prosperity Summit", que resaltó el papel femenino en la creación de empresas y para el impulso económico del país.
Para Barreto, los retos que encaran los empresarios hispanos "son los mismos que siempre", entre los que mencionó más capital para empezar negocios, mayor entrenamiento, oportunidades de contratos y estrategias para reducir sus costos.
"Nadie puede negar la importancia de nuestra comunidad, pero tenemos que hacer todo lo posible para apoyarlos", agregó el líder hispano, quien resaltó la capacidad de compra de los latinos.
Y frente a la inmigración, consideró que se trata de uno "de los temas que es muy importante" para la comunidad latina, por lo que consideró necesario "hacer todo lo posible para que los dos partidos trabajen juntos". "Los dos tienen responsabilidad", puntualizó.
Una de la oradoras invitadas, la vicegobernadora de Florida, Jeanette Núñez, resaltó el hito que están marcando las mujeres latinas al alcanzar cifras no vistas en la historia del país de apertura de negocios.
"Tenemos una historia para compartir con el pueblo americano, una historia de prosperidad, una historia de oportunidad", dijo Núñez a Efe, quien se identificó como una descendiente de inmigrantes que llegaron al país en 1961.
Sobre su estado, indicó que tiene "muchas personas latinas que han empezado negocios, empresarios, personas que están dando todo su mérito" para ayudar a la economía estadounidense.
"Eso es algo que se está viendo todos los días, todos los días se está viendo mujeres hispanas, mujeres latinas, creando negocios nuevos para un futuro mejor. El latino está muy enfocado en su familia y en darle oportunidades", agregó.
Con respecto a la inmigración, Núñez lo consideró un tema "muy importante", que "lleva año tras año, décadas" tratando de ser resuelto.
"Este país es un país de inmigrantes, también es un país de leyes y estamos tratando de buscar la manera de cómo cumplimos siendo un país de leyes y también dándole la bienvenida a aquellas inmigrantes que han esperado, que han tomado los pasos", anotó.
Por su parte, la tesorera del Gobierno federal, Jovita Carranza, otra de las oradoras de la jornada, señaló que la comunidad hispana está logrando un crecimiento histórico y la describió como el grupo más joven del país.
"Aunque la comunidad hispana está floreciendo, sé que tenemos mucho más trabajo por delante", afirmó la funcionaria de origen mexicano y nacida en el estado de Illinois, quien sirve como enlace con la Reserva Federal y aconseja al secretario del Departamento del Tesoro, Steven Mnuchin.
Carranza consideró que los negocios propiedad de grupos minoritarios "son una parte vital de la economía".
"El número de empresas de grupos minoritarios ha aumentado significativamente en la última década, con las empresas de propiedad hispana logrando el mayor crecimiento, del 46 %", sentenció la tesorera.
Según la funcionaria, hay más de 4,4 millones de empresas cuyos dueños son hispanos, las cuales generan más de 700.000 millones de dólares en ingresos para la economía del país, y, según el censo más reciente, el 44 % de estos negocios son administrados por latinas.
(c) Agencia EFE
Added by MetroLatino on September 25, 2019.
Saved under Actualidad, Actualidad, Comunidad, Comunidad, Comunidad, Distrito de Columbia
Embajadora de Mexico en EE.UU Martha Barcena. Foto: Lenin Nolly / ML news
La embajadora de México ante la Casa Blanca, Martha Barcena Coquí, quien subrayó que “el futuro de Estados Unidos está unido al futuro de México”, no solo en cuanto a remesas sino en áreas como la economía y la cultura.
La segunda generación de mexicanos nacidos en Estados Unidos “está más educada que nunca y es ambiciosa en el buen sentido”, que es el uso de la creatividad y el emprendimiento, a lo que se suma el orgullo que sienten por sus raíces, manifestó el 24 de septiembre en la Cumbre de Prosperidad de las Latinas que auspició en Washington la organización sin fines de lucro The Latino Coalition.
La directora general y cofundadora de Asociación Nacional contra la Trata Humana en la Sociedad (ANTHUS), Mariana Wenzel González, recibió un reconocimiento especial de manos del presidente de The Latino Coalition, Héctor Barreto.
Wenzel González sostuvo que fue testigo de la existencia de prostíbulos y decidió tomar acción en lugar de esperar que otros lo hagan. Ahora ha impulsado refugios para mujeres víctimas de la trata de personas.
Hector Barreto, presidente de la organización conservadora The Latino Coalition, resaltó la importancia de las empresas latinas en Estados Unidos, cuyas cifras se continúan incrementando.
Presidente de Coalición Latina Hector Barreto. Foto: Lenin Nolly / ML news
By Santiago D. Távara
Image credit: Lenin Nolly // Jovita Carranza, Principal Advisor for the US Department of Treasury
U.S. Treasurer Jovita Carranza, Florida ViceGovernor Jeanette Nuñez and White House Office of Hispanic Outreach Director Andrea Ramirez highlighted the entrepreneurial spirit of Latina women.
Both the Small Business Administration (SBA), which has been nominated to lead by President Donald Trump, and the Treasury and Labor departments are investing in women to give them the “tools, learning and resources” that will lead to their advancement, Carranza noted.
“I’m proud of our Latina leaders and I’m optimistic that they are shaping our future,” she said September 24 at the Latina Prosperity Summit sponsored in Washington by the nonprofit The Latino Coalition.
Lieutenant Governor Núñez urged Latinas to “seize the moment and follow their dreams” because women encourage, inspire and “empower women” to start businesses, take risks and make possible what seems impossible.
Núñez, the first Latina to serve as Florida’s vice governor, said the government’s job is to provide the tools to create a better business environment, whether it’s in tax reduction, to “dream big”.
Ramirez, director of the White House Office of Hispanic Outreach, also emphasized Donald Trump’s government’s interest in “maintaining an ongoing relationship” with the Latino community through various activities and teleconferences.
Ramirez highlighted her family values by mentioning her daughters and her religious principles. “I am the voice” of Latina women in the Trump administration, she said.
One of the special guests was Mexico’s ambassador to the White House, Martha Barcena Coquí, who stressed that “the future of the United States is linked to the future of Mexico,” not only in terms of remittances but also in areas such as the economy and culture.
The second generation of Mexicans born in the United States “is more educated than ever and is ambitious in the good sense,” the use of creativity and entrepreneurship, to which is added the pride they feel for their roots, he said.
Mariana Wenzel Gonzalez, director general and co-founder of the National Association Against Human Trafficking in Society (ANTHUS), received a special award from The Latino Coalition President Hector Barreto.
Wenzel Gonzalez said she witnessed the existence of brothels and decided to take action instead of waiting for others to take action. She has now promoted shelters for women victim of human trafficking.
Barreto, president of the conservative organization The Latino Coalition, highlighted the importance of Latino businesses in the United States, whose numbers continue to increase. “Get out of your comfort zone, don’t just give out your cards,” she said.
During the Latina Prosperity Summit, Barreto signed a Memorandum of Understanding with Prospánica, represented by Jimmy Ortiz, which promotes the empowerment of professionals.
Participants included, among others, Danny Vargas, president of Amigos del Museo Nacional del Latino Americano; and Robert Bard, president of Latina Style magazine, founded by his wife who passed away in 2001.
Source: Political Profiles
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