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This is a spanish article,
Spanish-speaking entrepreneurs face a unique set of challenges when trying to get their businesses off the ground. On January 26, a community roundtable event was held in Commerce City, attended by Mayor Steve Douglas and U.S. Representative Yadira Caraveo. Entrepreneurs of all ages running a variety of businesses discussed their struggles and suggested ways their elected officials can help.
Here are the five main issues La Ciudad heard during the program, and we spoke to an expert who offered some strategies for tackling the problems.
1. access to capital
The process of obtaining financing to start a business can be difficult, especially when there is a language barrier or little knowledge of where to start applying for loans and grants.
“Between discrimination, bias, lack of social capital and immigration concerns, there is a lot to deal with when starting out,” said Berenice Garcia Tellez, president and co-founder of entrepreneur and diversity-focused consulting firm Monarcha Group.
Berenice Garcia Tellez Credit: Courtesy Photo
Tellez emphasized that local support networks are important. Community-based organizations like Adelante Community Development can provide guidance, financial literacy training, and sometimes microloans. Also, these organizations have employees who are bilingual.
2. Obtaining the Proper License
Often entrepreneurs must go through the first step of the process, only to find out that they need a specific license to operate their business. Many business owners said they felt forced to run their business “under the table” because they could not obtain the proper licenses.
Many people were unaware that it was possible to open a business without a Social Security number or even a driver’s license. Rather, an Individual Taxpayer Identification Number (ITIN) is sufficient.
“Having an ITIN allows you to still open a beauty salon, a restaurant, but obviously there are still a lot of careers where you need the proper licensing, like being a doctor or a lawyer,” Tellez said.
3. Digital divide
Older business owners said that not being tech-savvy can cause them to lag behind other business owners competing in the same market. Senior members of the community said they feel they cannot keep up with new social media trends that can often be required to run a successful business.
“During my four years of work at the chamber, especially during COVID, we saw a gap in the digital divide for people over 50,” Tellez said. “It is just a guess. Something we did just because everything went virtual was ask them to take classes on using computers. Some organizations and community colleges will offer free classes in Spanish to help bridge this gap. “Especially now with artificial intelligence technology, if you don’t have an online presence, you will be left behind.”
4. Lack of business relationships
During the roundtable it was expressed that although many had knowledge, experience, and training in their respective fields, they lacked the resources or knowledge to generate organic customers in a new area.
One possible solution is to use alternative/non-traditional routes to build a customer base. Tellez recommends Entrepreneurship for All, an organization that helps new entrepreneurs get their start. Reaching out to friends, family members, and other groups with whom you have networked can be a good way to make connections.
5. Political nature of Commerce City
The city is almost evenly divided between Democrats and Republicans, which can hinder progress when those parties have different opinions on solving an issue for business owners. Caraveo explained that they needed to make sure the solution addressed those different views.
“If we’re going to reach a solution, it has to be bipartisan,” Caraveo said.
Source: coloradocommunitymedia.com
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