According to the Stanford Latino Entrepreneurship Initiative (SLEI), there is so much to learn about the Latino-owned businesses in the United States. Since 2007, Latino-owned businesses grew in number by 46%, which outpaces the growth among all other demographic groups combined. Forty percent of Latino business owners are Millennials. Forty-four percent are female. Between 2007 […]
Latino entrepreneurs often face plenty of legal issues when attempting to open a start-up restaurant. However, investing in a restaurant business is an important area of engagement for Hispanic entrepreneurs. Above all other business issues that need to be considered beforehand, the negotiation of a lease takes precedent. How the restaurant can be financed and where […]
Federal government shutdowns are not a frequent challenge that small business owners face, but they obviously do occur. When they do, revenue may be affected. They will likely be unable to get help from federal agencies. What can small business owners do to protect themselves, now or during any future shutdowns?Social Media MarketingIf your customers […]
Now that you are an employer, you are expected to pay minimum wage and overtime. Your employees must receive meal breaks. Failure to do any one of the above constitutes a wage violation. Your employees are not only entitled to recover those unpaid wages, but a monetary penalty as well. Let’s further explore wage violations […]
CEOs surveyed by the national nonprofit group Initiative for a Competitive Inner City (ICIC) repeatedly cite inner-cities as locations that have been hospitable to their business growth and development, according to ICIC CEO, Steve Grossman. Based in Boston, ICIC issued a report this past October in conjunction with the unveiling of this year’s Inner City […]
Would you like to refer to your small business as organized? Start by getting organized. That means more than just tidying up your home office. In order to become more productive and profitable, you must create systems and procedures for all different parts of your business.ORGANIZATIONOrganizing your small business may be about more than neatening […]
It is a common mistake for the owners of small businesses to assume that certain legal provisions do not apply to them because of their size. Of course, assumption is always a mistake, but that is why you have business law attorneys to learn how the law applies to you. In the case of the […]
Vision and ambition will take you about as far in the food business as they will in any other business. Ask any restaurateur, however, and you will learn that they are not enough. Most food businesses fail within the first year. Success requires a great deal of research, planning, capital, business acumen and perseverance. Did […]
According to the U.S. Hispanic Chamber of Commerce, there are 4.4 million Latino-owned businesses in this country that are responsible for the injection of over $700 billion into the U.S. economy. In the past year alone, the average annual revenue of those businesses spiked by 26.5%, while the number of credit applications jumped 22%. The […]
Successful business owners do not accept failure or defeat. If their business falls on hard times, they re-think and strategize. When sales and profits are lagging, they are proactive. This is a list of common strategies for consideration:ReinventionCall it reinvention. Call it adaptation. Either way, you must be ready to shift gears when you are […]