Expanding The Power of U.S. Latinos

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  • 03/07/2019 1:59 PM | TLC Team (Administrator)


  • 03/06/2019 2:08 PM | TLC Team (Administrator)

    Vice President Mike Pence speaks at Legislative Summit, co-hosted by The Latino Coalition and Job Creators Network, in Washington, Wednesday, March 6, 2019. (Jose Luis Magana/Associated Press)

    By Luis Alonso Lugo | AP March 6 at 3:05 PM

    WASHINGTON — Vice President Mike Pence said Wednesday that the U.S. will revoke more visas from prominent Venezuelans as it seeks to increase pressure on President Nicolas Maduro to give up power.

    Pence told the Latino Coalition that the U.S. will revoke 77 visas held by officials in the Maduro government or their relatives.

    The U.S. revoked 49 visas last week and has imposed multiple rounds of sanctions as part of a campaign to force Maduro to turn over power to opposition leader Juan Guaido.

    The U.S. and more than 50 governments recognize Guaido as interim president. They say Maduro wasn’t legitimately re-elected last year because opposition candidates weren’t permitted to run.

    U.S. national security adviser John Bolton warned Wednesday that financial institutions “will face sanctions for being involved in facilitating illegitimate transactions that benefit Nicolas Maduro and his corrupt network.”

    Pence referred to the Venezuelan crisis while making the case for the re-election of President Donald Trump in 2020 as a way to counteract policies —which he described as socialist— supported by Democrats.

    “All of us need to say with one voice: America will never be a socialist country,” Pence told the conservative Latino business owners gathered in Washington for the Latino Coalition annual event.

    Pence said when Democrats support policy proposals such as “Medicare-for-all” and the Green New Deal —an ambitious plan to address global climate change— they “are embracing the same economic theories that have impoverished nations.”

    Pence also defended the decision for Trump to declare a national emergency to fund a wall at the southern border.

    “Every day we don’t secure our border we are allowing the crisis to worsen and more lives to be in danger,” he said.

    __

    Luis Alonso Lugo on Twitter

    Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

    Source: Washington Post

  • 03/06/2019 1:38 PM | TLC Team (Administrator)

    The vice president, Homeland Security Secretary Nielsen and others cite an increase in illegal border crossings as reason to back the declaration.


    Vice President Mike Pence greets the chairman and CEO of the Latino Coalition, Hector V. Barreto, during the Legislative Summit in Washington on Wednesday.Jose Luis Magana / AP

    March 6, 2019, 12:12 PM PST
    By Dartunorro Clark

    Vice President Mike Pence and other Trump administration officials are calling on senators to back President Donald Trump's emergency declaration to build his southern border wall, citing an increase in illegal border crossings in recent months.

    Vice President Mike Pence on Wednesday criticized lawmakers from both parties who plan to support a resolution to block the president's emergency declaration.

    "A vote against the president's emergency declaration is a vote against border security," Pence said in a speech at the Latino Coalition Legislative Summit in Washington. "A vote against the president's emergency declaration is a vote to deny the real humanitarian and security crisis at our southern border. And so we call on every member of the United States Senate to set politics aside, stand up for border security, stand with this president and put the safety and security of the American people first."

    Democrats and a handful of Republicans in the Senate have vowed to opposed Trump's declaration, with many citing concerns that the move seeks to go around the lawmakers' constitutional spending authority.

    Senate Majority Leader Mitch McConnell, R-Ky., conceded Monday that he believes the chamber will support a resolution to end the national emergency in a vote this month, which would prompt a presidential veto that lawmakers likely would not be able to override.

    The Senate is expected to vote on the resolution — which the House passed last week in a 245-182 vote — by March 15, before the Senate’s next recess. Sen. Rand Paul of Kentucky last weekend became the fourth Senate Republican to say that he planned to vote for the resolution, which would ensure the measure was likely pass the GOP-controlled Senate. Susan Collins of Maine, Thom Tillis of North Carolina and Lisa Murkowski of Alaska also plan to support the measure.

    Pence and other administration officials, including Homeland Security secretary Kirstjen Nielsen, have cited an increase in illegal border crossings as a reason for lawmakers to support the declaration.

    At a congressional hearing on Wednesday, Nielsen urged lawmakers to address what she called a “humanitarian catastrophe” at the border. The secretary, who privately briefed the president and lawmakers on border security this week, scolded Democrats for calling Trump's border wall push a "manufactured crisis."

    "This is not a manufactured crisis," Nielsen said. "This is truly an emergency."

    Trump made the declaration last month after Congress passed a bipartisan spending bill without the $5.7 billion he had demanded for a southern border wall, but with some money for fencing.

    In an appearance on Fox News on Wednesday, White House press secretary Sarah Sanders also denounced lawmakers, particularly the Senate Republicans, who plan to vote to block Trump's declaration.

    "Look, my message to that group is to do your job," Sanders said. "If you had done what you were elected to do on the front end, then the president wouldn't have to fix this problem on his own through a national emergency. The president tried multiple times to get Congress to work with him, to address the crisis, they failed to do so. And now the president has to do what is absolutely necessary and what is right and that is to declare a national emergency and fix the crisis at the border."

    The number of undocumented immigrants crossing the southern border last month was the highest total for February in 12 years, according to statistics released by Customs and Border Protection on Tuesday.

    In 28 days, about 76,000 immigrants without the needed documentation to enter the U.S. either presented themselves at legal ports of entry or were apprehended by Border Patrol between ports of entry.

    It is the highest total for February since 2007, Department of Homeland Security officials said at a press conference Tuesday. It is also the highest single month total since Trump was elected in November 2016. Crossings hit nearly 67,000 in October 2016, just before Trump's election.

    Still, February did not set an overall record for border traffic. Before 2008, monthly border crossings were consistently over 100,000, and were higher than 200,000 per month in 2000.

    By:  Dartunorro Clark is a political reporter for NBC News.

    Source: NBC News

  • 03/06/2019 9:35 AM | TLC Team (Administrator)

    Start your small business in Portland, Oregon: Study

    FBN's Stuart Varney on a study by GoBankingRates.com finding Portland, Oregon was one of the best cities in America to start a small business.

    Right now, Congress has a big opportunity to help small business. And while the nature of the opportunity is tremendous, and historic, it may not fit with common perceptions about what type of policies really help local or family-owned companies. The issue before Congress? Approval of a major international trade agreement.

    International trade is actually incredibly important to small businesses. It is a little-known fact, but 98 percent of all U.S. exporters are small firms. Nearly 300,000 small and medium-sized enterprises (SMEs) are exporting to foreign markets every day; those companies support around four million American jobs as a result.

    I remember the moment my own father – a Mexican immigrant to this country who achieved his own American dream by becoming a restaurant owner – decided to grow his business to include the import and export of goods. It made sense to him to import and export from and to Mexico, but the opportunity to engage in trade was only worthwhile as long as the United States government had a free, fair agreement with the Mexican government. Thankfully, the ground rules were favorable and my father was able to grow his business, hire more people and even pay higher wages as a result.

    HISPANIC AMERICANS ARE ON THE RISE IN EVERY WAY — POLITICIANS MUST TAKE NOTE

    My father’s story is typical of American businesses – of all sizes – that engage in international trade. According to Jeffrey J. Schott of the Peterson Institute for International Economics, workers in manufacturing companies that produce exports earn wages 12 to 18 percent higher than workers at companies that only serve the U.S. market.

    Larry Kudlow: USMCA a good deal in everybody's interestVideo

    If approved by Congress, President Donald Trump’s carefully negotiated agreement with Mexico and Canada (the “United States-Mexico-Canada Agreement,” which would replace NAFTA) will promote cooperation between the three countries to increase trade and investment opportunities for smaller businesses. The USMCA is actually the first trade agreement in our nation’s history to include a chapter specifically focusing on small and medium-sized enterprises. This chapter will establish a committee, made up of officials from all three countries, that focuses specifically on SMEs. It will also establish patentability standards and patent office best practices to ensure that U.S. innovators (which are so often smaller businesses) are able to protect their inventions. Perhaps most importantly, this historic chapter will create information-sharing tools that will help small-business owners better understand the opportunities the agreement will unlock for them, their businesses, and their employees.

    Small businesses tend to be disproportionately impacted by one-size-fits-all government regulations, and the USMCA takes that fact into consideration as well. The agreement will help small firms by enforcing consideration of, and even removing some of, the unnecessary burdens that might currently discourage entrepreneurs from engaging in international trade. For example, the agreement will eliminate the need to open a foreign office as a condition for doing business in another country.

    As a long-time advocate for small-business opportunities in government procurement (this was a major initiative of mine when I was the head of the U.S. Small Business Administration), I was especially pleased to see that the USMCA will facilitate the participation of U.S. and Mexican SMEs in government procurement. If passed by Congress, the agreement will leverage technology to encourage the conduct of procurement: a single electronic portal will be created to provide notices of intended procurement. This straightforward step will be a historic leap toward transparency and efficiency for small and medium-sized businesses that are engaging in government procurement.

    For businesses of all sizes and types – from manufacturers to farmers and ranchers – free trade opens doors to new markets and new opportunities. New and better-paying jobs are created. By approving the USMCA, Congress can show the small-business community that they understand and appreciate the special role of small business in international trade. It will be a big step for small business, and small-business owners will reward it with their usual, incredible economic contributions: growth, innovation and job creation.

    Hector Barreto is the chairman of The Latino Coalition and the former U.S. Small Business Administrator.

    Source: FoxNews

  • 02/18/2019 11:45 AM | TLC Team (Administrator)
  • 01/15/2019 6:33 PM | TLC Team (Administrator)

    As the government shutdown that began in December 2018 enters its second month, many entrepreneurs are left wondering how to address it. This guide will help you not just survive but thrive while the federal government is shuttered.

    A federal government shutdown causes a lot of inconvenience, especially when it goes on for a protracted period. For small businesses, in particular, shutdowns drive a litany of concerns that only snowball the longer they go on. These include challenges like loss of public contracts, delayed payments and the inability to obtain a Small Business Administration (SBA) loan. At the core of each of these problems is one thing: uncertainty around cash flow. Even for small businesses that primarily operate in the private sector, shutdowns have a significant economic impact.

    "The negative consequences of one of the longest shutdowns in U.S. history is now fully impacting our country's small business community," Keith Hall, president and CEO of the National Association of the Self-Employed (NASE), said in a statement. "From uncertainty around how the shutdown could impact delays in tax refunds small businesses were looking to … to the shuttering of the Small Business Administration impacting small business loans, America's small businesses are on the frontlines feeling the adverse impact."

    Editor's note: Need a loan for your business? Fill out the below questionnaire to have our vendor partners contact you with free information.

    In an environment where cash is king, the solutions all must revolve around generating new revenue and getting paid. How can small businesses do that in a pinch? Through a combined strategy of revenue-generating moves, small businesses can find some solace during the tumultuous time of a government shutdown.

    Sustaining cash flow is the critical goal.

    The chief concern of a small business owner, even in the best of times, is cash flow. According to Lyneir Richardson, executive director of the Center for Urban Entrepreneurship and Economic Development at Rutgers University, government shutdowns often have an adverse effect on cash flow, and not just for small businesses that rely heavily on public contracts. When those companies feel the squeeze, he said, they will often delay capital expenditures and invoice payments to other businesses they work with, creating a "ripple effect" in the wider economy.

    "The biggest fear for small businesses during a shutdown relates to cash flow," Richardson said. "Will my payments be processed? Can I get a loan? Will I get the green light on a contract I've been working on? Will I get paid for the work we've done, or will there be a long line to get my invoice paid? Cash is oxygen, and without oxygen, you quickly start to feel the pressure."

    Therefore, every strategy a small business owner employs during a government shutdown should come back to driving cash flow and shoring up operating capital reserves. This includes leveraging outstanding accounts receivable, drumming up new short-term business and exploring financing options. It also includes finding room in the budget on the expense side of the balance sheet, cutting the fat until the government shutdown concludes.

    Lean on accounts receivable to increase cash flow.

    If your company is sitting on a significant amount of money in accounts receivable, a shutdown is a good time to call those clients on what they owe. Naturally, your clients will often be in a similar position during a government shutdown and will want to hold onto as much cash as possible themselves. If your need for revenue is strong enough, consider offering a discount on the total amount due in exchange for immediate payment.

    "If new cash isn't coming in, reserves start to dwindle, and the entrepreneur starts to feel the pressure," Richardson said. "When there are no revenue or invoice payments, that's the biggest challenge."

    Negotiate reduced or delayed payments with vendors and creditors.

    For many small businesses, simply delaying or reducing upcoming payments to vendors could be enough to carry them through the shutdown with more cash on hand. Consider going directly to your suppliers and requesting an extension on payments for a month. Many vendors will extend flexibility during a shutdown, especially if you've been a loyal and timely-paying customer.

    "There are a lot of options like making minimum payments on debt or talking to vendors about delaying payments," Hall said. "We're already in a longer shutdown than ever before, but the hope is it's relatively short-lived. Delaying a payment for one month, deferring a couple things, is a great idea from a cash management standpoint."

    Signing new business with a quick turnaround time.

    Of course, there are few revenue-generating options better than simply signing new business. However, since the need for cash flow is pronounced during a shutdown, new business should have a quick turnaround time, so you can get paid as soon as possible. Make sure any new clients are aware you expect payment within a short period (for example, two weeks rather than 30 days). Again, depending on the severity of your situation, you might consider offering discounts for a guaranteed immediate payment if clients seem hesitant.

    "There are advantages to having government contracts, but best-in-class businesses have both public and private clients," Richardson said. "When situations like this happen, look to private clients to greenlight new work and pay invoices quicker so you have cash flow."

    For some companies, relief might be found in former customers who haven't ordered products or required services in a while. Combing through customer lists and reaching out to see if an old contact needs your business could drive some revenue in the short term, Hall added.

    Accept a loan to reinforce capital reserves.

    Any wise entrepreneur will think long and hard before taking on debt, but in an environment where a prolonged government shutdown is slowing cash flow across the board, debt could help buoy your capital reserves. Specifically, Hall said, entrepreneurs could potentially seek short-term working capital from a community bank.

    "This type of situation is one that bankers typically respond to very well, because it's not a downturn in your business. It's out of your control, and the expectation for most people is that this is going to end," Hall said. "Short-term working capital financing at a local bank is a great way to go."

    Small business owners could also rely on lines of credit they might have at their disposal, although Hall cautioned that if left unchecked or used for an indeterminate period, that method of financing could become quite expensive.

    As a last resort, consider invoice factoring.

    If you're having trouble securing a more conventional loan or calling some of the money owed in your accounts receivable, you might consider invoice factoring. Factoring is a type of financing that leverages your outstanding A/R as collateral to get a large portion of the cash you are owed upfront. The factor, or lender, will then typically collect the outstanding balances directly from your clients. Small businesses generally pay a portion of their total A/R to a factor in exchange for this service, but it avails them liquid capital immediately and can help to avert an otherwise challenging situation.

    "I think it's always a good idea to look at options; however, when you get into factoring or selling A/R … that can be a very expensive option," Hall said. "The first step should always be to find more conventional lending opportunities."

    If you are looking for an invoice factoring partner, though, it's important to make a wise selection. For help, see our best picks for invoice factoring companies in 2019.

    Cut expenses to slow capital outflows.

    Finally, in conjunction with efforts to raise new sources of revenue, small businesses should consider cutting any unnecessary expenses until a shutdown concludes. This includes putting off capital investments such as purchasing new equipment or expanding your staff until normalcy returns. For small businesses that are especially tight, it might even mean instituting furloughs or laying off some employees altogether. Ensuring your business operates as lean as possible, at least in the near term, will make each revenue-generating step you take go that much further.

    "[Cutting expenses] could include laying off staff, delaying business trips, delaying the purchase of new equipment," Richardson said. "That's how this sort of ripple effect on the economy happens. Once I'm concerned about my cash, I have to delay capital expenditures. You've got to hold on to that cash to continue to survive, operate and see another day in business."

    Engage with your legislators and stay informed.

    While it's not a direct step to improving cash flow, the most concrete action you can take toward ending the shutdown is taking time to contact your legislators and urge them to do whatever they can to ameliorate the situation in D.C.

    "The true way we can make a difference is take that six minutes and send an email to your congressmen," said Hall. "Let them know this is not what we intended when we voted for you guys."

    Use this opportunity to build a cash reserve fund.

    According to Hall, the shutdown represents an opportunity to shore up cash reserves. He recommends saving up to three months of cash reserves depending on the nature of your business.

    "Depending on your company, if you don't have … some level of reserves for your operations, this situation is a great wake-up call to build that reserve," Hall said. "As you go through the year, concentrate on savings. Delay one vacation, one bonus or something to get your business in position so when there is an issue … you have that reserve."

    The bottom line is top-line revenue.

    Driving top-line revenue amid a government shutdown can be challenging, but it's critical to keeping business operations afloat. Companies with strong reserves will be best positioned when a shutdown occurs, of course, but there's no reason companies with less cash on hand should suffer. Preparing a strategic plan ahead of time for use in the event of a government shutdown can help small businesses set these wheels in motion the moment the news breaks, hopefully sustaining themselves for the long haul.

    According to Mike Trabold, director of compliance at Paychex, staying informed is critical. Understanding the facts of the situation, which many government agencies have been diligently trying to communicate to the public, will help entrepreneurs craft a strategy to move forward effectively.

    "We're trying to tell people the best thing you could do is just stay informed," Trabold said. "The advice we give people is that it's not a savory situation, but keep informed and do something with the opportunity to expand offerings a bit more – cut back on expenses and reach out to some of your creditors, and talk with them to find out if there are ways to extend payment terms."

    Remember, government shutdowns don't last forever, so implementing a multifaceted strategy for driving unconventional revenue until the government reopens in its full capacity serves as an interim measure. Still, the ability to adapt to tough market conditions also demonstrates the resilience of a business, which can help boost long-term prospects and better position a small business for growth. Adversity is merely a new opportunity to the seasoned entrepreneur, and a government shutdown is no different.


    Source: Business.com
    By: Adam C. Uzialko

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