Number of Hispanic owned businesses doubles

TUCSON, AZ (Tucson News Now) -The Arizona Hispanic Chamber of Commerce released its fifth annual edition of the DATOS Tucson report on Oct. 6. According to a release, the report provides an overview of the state of the Hispanic market in southern Arizona, as well as statewide and nationally.

"Tucson and southern Arizona are vital to Arizona's overall economic prosperity, especially as it relates to our fast-growing partnership with Mexico," said Gonzalo A. de la Melena, Jr., President and CEO of the Arizona Hispanic Chamber of Commerce. "We're proud to deliver the message that Arizona's future is inextricably linked to the economic health of its exploding Hispanic population."

The release states the number of Hispanic-owned business have doubled statewide 2007, while the number of Latina-owned businesses has tripled.

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Now Open: 2016 Echoing Green Fellowship Application

The 2016 Echoing Green Fellowship application is now open! Echoing Green is accepting applications for our 2016 class of Fellows until November 17, 2015 at 2:00 pm ET. We’re looking for emerging leaders, driven by a strong sense of purpose, who are ready to challenge the status-quo as they tackle issues facing their communities across the globe. We’ve pulled together some sample language you can use to share this opportunity among your network: Twitter .@echoinggreen is seeking the world's most promising #socent! Apply for a 2016 Fellowship: http://www.echoinggreen.org/fellowship/apply Are you a #socent making #bigboldchange? @echoinggreen's 2016 Fellowship application is open! Details: http://www.echoinggreen.org/fellowship/apply Calling all #socent! Apply to @echoinggreen's 2016 #Global #Climate #BMA #Fellowship by 11/17! Details: www.echoinggreen.org/fellowship/apply .@echoinggreen is granting $90K to launch your idea to solve the world’s biggest problems. www.echoinggreen.org/apply #EGFellows #socent Facebook/LinkedIn Could you use up to $90,000 to launch your innovative idea, and change the world? @Echoing Green[https://www.facebook.com/echoinggreen]’s Fellowship Programs invest in next generation leaders working to solve the world’s biggest problems with up to $90,000 and individualized support to launch your enterprise. Apply by Nov. 17: www.echoinggreen.org/apply Helpful Links Apply Selection Criteria & Eligibility Application Timeline Fellowship FAQs

MBA Entrepreneurs From Top B-Schools Raise $62bn In Venture Capital

Start-up companies founded by graduates of 25 top business schools have raised $62.8 billion in venture capital funding, according to a BusinessBecause analysis of data from PitchBook, a VC and private equity research firm.

PitchBook compiled a ranking of the top global universities and business schools for VC funding.

Top of the MBA list is Harvard Business School, whose 557 entrepreneurs have raised $6.7 billion for nearly 500 start-up companies. One Harvard venture, Oscar Health Insurance, a US health insurance company that utilizes technology and data, raised $327 million, valuing the start-up at $1.5 billion

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Hispanic Business Growth Outstrips Rest of U.S.

The growth in Hispanic-owned businesses in the U.S. is outstripping that of companies in general, according to a study released Monday.

Between 2012 and 2015, the number of Hispanic-owned businesses has grown at an annual rate of 7.5 percent, 15 times faster than the 0.5 percent growth rate for all companies, according to the study by the consulting firm Geoscape and the United States Hispanic Chamber of Commerce.

There are an estimated 4.07 million Hispanic-owned businesses in the country, up 57 percent since 2007, the study said.

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A Peruvian entrepreneur has translated the popular Birchbox concept, a New York-based beauty subscription service, to the Peruvian market.

Inspired by the original e-commerce platform, which encourages beauty buffs to try new products and review them online, Pinallos Delgado launched DeluxeBox.pe.

Peruvian women can try new products via a ‘discovery’ subscription as well as purchase beauty products and join an online community to share reviews.

“We wanted to come up with an idea that could work in Peru and the region, that was scalable and that could fit with our personal interests,” Delgado told the Financial Times.

DeluxeBox has now been trading for two-and-a-half years and boasts 10,000 customers and relationships with 90 beauty and personal care brands. The company, which was financed through savings and investment from Peru’s Wayra accelerator program, broke even for the first time last year.

Delgado is now considering expansion within South America and branching out into products for men as well as developing business intelligence for beauty companies based on the information collected from customers. “We have presented our start-up to investors in Colombia and Peru, and are evaluating and negotiating our second investment round,” she noted.

Entrepreneurial Advertising: The Future Of Marketing

Americans love entrepreneurs. The risk and drama of business keeps us watching shows like Shark Tank and putting innovators like Mark Zuckerberg and Seth Godin on high pedestals. We love the idea that anyone can turn an idea into an empire. We might adore pro athletes and gawk at celebrities. But we want to be entrepreneurs.

Entrepreneurism is on the rise, across all industries. According to a study by the Kauffman Foundation, U.S. entrepreneurial activity grew this year at a rate faster than it has in two decades. Some people are leaving the comfort of corporate to start their own ventures, and the rate of U.S. freelancers has hit a record 34%.

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The fastest-growing group of entrepreneurs in the U.S.? Minority women.

It has never been a better time to be a female entrepreneur.

At least that’s what Carla Harris, chair of the National Women’s Business Council (NWBC), believes. “It’s the perfect storm of opportunity,” she says during a press briefing on 2012 data from the Survey of Business Owners.

This “perfect storm” is a combination of, among other forces, historically low interest rates, record amounts of cash in the U.S. economy, a growing presence of women on boards, and the rising numbers of women earning bachelors’ degrees.

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The next Silicon Valley is Latin America, says Gartner

Latin America is bound to make the most noise in innovation and digital business, according to IT research company Gartner.

"We are living the Latin America moment," said VP of research Patrick Meehan during the Gartner CIO & IT Executive Latin America Summit in Mexico City. He added that "no other region in the world" offers the same capacity to become the next IT world hub.

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These 36 Young Entrepreneur Teams Are Going to New York City to Pitch Their Business Plans in the NFTE National Youth Entrepreneurship Challenge; Winner Will Take Home $25,000 in Cash & Prizes

NEW YORK, Sept. 10, 2015 -- Young entrepreneurs from Miami to Boston and Los Angeles and major cities in between will be in New York City to compete in the National Youth Entrepreneurship Challenge – presented by the Citi Foundation– where the winner will receive a prize package valued at $25,000 in direct funding, scholarships and business support services.

Network for Teaching Entrepreneurship (NFTE) will host the finals of the 10th annual Challenge at the AXA Event & Production Center in New York City on October 6, 2015.

All participating young entrepreneurs are listed below by region. Each business in the Challenge is a first or second place winner of NFTE's regional challenge in their area, or is one of the five top winners out of 20 recent NFTE Make Your Job BizCamps, a national program funded by the Citi Foundation as part of its Pathways to Progress initiative to promote career readiness.

Downey, CA  
Kenneth Huertas - A Touch of Eco – an environmentally-friendly mobile auto detailing service in the Greater Los Angeles area.

Fresno, CA
Omar Barriga - New Generations Teen Night Club - a safe and secure, alcohol and drug free nightclub for teens within the Fresno area.

Patrick Rogers & Faith Zavala - 4:13 Supply Co – a spiritually based clothing line inspired by the scripture Philippians 4:13.

Hayward, CA 
Samantha Faxon & Sharlyn McClendon - Your City Gold Card - a year-long, reusable discount card that supports local businesses, employs teens with part-time jobs, and helps raise funds for schools.

Lawndale, CA 
Crystal Sanchez - Guardian Locket – a fashionable security necklace disguised as a regular piece of jewelry, empowering women to contact local law enforcement when threatened by an attacker.

Los Angeles, CA 
Elijah Jobe - HoopDreamz  - an app that allows basketball players and fans to find recreation centers and parks in their area in order to meet up and play basketball.

San Jose, CA 
Cristina Lawson - Kinetic – a product which harnesses your kinetic energy as you walk or run and converts it to electricity to power your phone or electrical device.

Hartford, CT
Selma Ahmetovic & Selma Mustabasic - So Scentsational, LLC - Eco-friendly, hypoallergenic and sustainable candles that embody personality and creativity.

Newark, DE
Angelique Shepard - Paper Pic Designs- a design solution to customize notepads.

Coral Springs, FL
Jason Ramadan - Cliff Fall - an iOS game with a more personalized and user-friendly experience.

Plantation, FL 
Alyssa Brennan & Aviva Grimmett – BloodBand – a retail/manufacturing business that enlists laser technology to eliminate the need to prick oneself in order to monitor blood sugar levels.

Sunrise, FL 
Kevin Diniz - Easy Scholar - an app that allows students to find relevant scholarships.

Tucker, GA
Rohit Pellai - Reserve My Spot - an app which allows students to find and reserve parking spots and provides an extra layer of security for school officials.

Chicago, IL
Marcos Quiroz & Eduardo Reyes - Inventive Smoothies - a food truck selling healthy smoothies in the Chicago area.

Davon Smith - Level UP! - matches a student's Lexile score to an interest survey to help the student select interesting and engaging texts.

Lawrence, MA
Yoanna Rodriguez & Tamara Rodriguez - Star Athletes –  a professional videographer service dedicated to creating "highlight" videos for college athlete recruitment.

Baltimore, MD
Javon Gholston & Michael Heier, Jr. - Power To The PCB - an engineering tool design company dedicated to making more efficient work tools for those working in electronics.

Colton Ross - Kickies Cookies - artisanal caffeinated cookie business.

Ferguson, MO 
Destiny Davis - DestinTees Custom Tees & Apparel - a company that designs high-quality, customized T-shirts.

Jacob Tiemann - Sneaker Trade- an app which allows users to sell and trade shoes.

Armani Tomlinson - Keeja Custom Cases - an LLC business which provides custom iPhone cases.

Brooklyn, NY 
Hariella Lawson & Desiree Michel – TeenWork -a mobile application designed to give teenagers ideas, motivation and summer opportunities around and outside their communities based on their interests.

Jamaica, NY 
Alexandria Rodriguez – HealthyMe – a diet app dedicated to providing emotional and technical support as well as clinically-based dietary data for those trying to lose weight.

Queens, NY
Urbana Anam & Jannatul Rowshan - Urbanalifa Hijabs - customizable and fashionable Hijabs for Muslim women looking to reveal their sense of style while maintaining their religious modesty.

Yonkers, NY
Christie Medina – Tacitas - Gourmet Hispanic baked goods.

Painesville, OH  
Ryan Hyde - Ignited Innovations - concrete-based, environmentally friendly products to enhance the décor of your home and living space.

Joey Orosz – Embracelets - handmade bracelets promoting cause awareness and sold wholesale for fundraising events.

Philadelphia PA 
Shemar Coombs & Aissata Coulibaly - Rap-It-Up – a phone case with a built-in groove to allow for easy headphone storage.

Charleston, SC 
Caleb Milligan - Caleb Alexander: The Next Generation of Magic – an affordable, fresh and innovative magic show that appeals to today's 21st century audience.

Mt. Pleasant, SC 
Connor Simonson - Deep Fried Dyes - Professional string and dye jobs for lacrosse players: enhancing style and improving performance on the field.

Dallas, TX 
Emily Raney - Alloy Interp – a custom design jewelry company that utilizes various metals, beads, and even gum wrappers to help young girls express their individual styles.

Irving, TX 
Ashley Gonzalez & Roha Nehas - Beat The Heat Headwear - a head band containing a cooling-gel sewn into it that keeps your head cool during outdoor activities.

Alexandria, VA 
Ramsey Benzina & Jacob Katz - Jams Music Group - a music platform and management group geared to provide every aspiring musician with equal opportunity to create a career in music.

Washington, DC 
Justin Godby, William Leach – GetYourHeat – a distributor of exclusive, hard-to-attain shoes/sneakers in the DC area.

In addition, NFTE is giving these finalists their first big break with 60 seconds to sell their business idea to the world, in an online "elevator pitch."  Voting is open now through October 3 here: www.nfte.com/elevatorpitch2015.

The nominee who earns the most unique votes from the general public will receive an award of $2,500 toward advancing their education or getting their business off the ground.  The winner will also be announced at the National Youth Entrepreneurship Challenge.

Student photos, more detailed biographies and information about their businesses is available.

Network for Teaching Entrepreneurship  
Since 1987, the Network for Teaching Entrepreneurship (NFTE) has taught and inspired more than 600,000 young people to pursue educational opportunities, start their own businesses, and succeed in life. By providing entrepreneurship education programs relevant to the real world, NFTE empowers students to own their education and future success. NFTE has programs in 14 U.S. program offices and in 8 countries. To learn more visit www.nfte.com, like us on Facebook at www.Facebook.com/NFTE and follow us on Twitter at @NFTE

About the Citi Foundation 
The Citi Foundation works to promote economic progress and improve the lives of people in low-income communities around the world. We invest in efforts that increase financial inclusion, catalyze job opportunities for youth, and reimagine approaches to building economically vibrant cities. The Citi Foundation's "More than Philanthropy" approach leverages the enormous expertise of Citi and its people to fulfill our mission and drive thought leadership and innovation. For more information, visit www.citifoundation.com.

SOURCE Network for Teaching Entrepreneurship

Latino Small Business Owners Faced Challenges and Opportunities in Securing Funding

NEW YORK (September 10, 2015) – Today Biz2Credit, the leading online platform for small business funding, released a study showing that Latino small business loan applications grew 18 percent, however, Latino business owners lag behind in the necessary factors needed to secure financing such as annual revenue, credit scores, age of business and operating expenses.

The study found that the average annual revenue for Latino-owned businesses was $68,540, trailing slightly behind the average annual revenue of $70,641 for non-Latino-owned businesses (though an improvement from the previous year). Average operating expenses were also significantly lower at $18,334, contrasted with $24,857 for non-Latino businesses. The average age of Latino businesses was younger at 22 months vs. 25 months for non-Latino businesses. Meanwhile, the average credit score for Latino-owned businesses applying for loans was 603, compared to 614 for all others.

“This year's study was interesting because we found that Latino businesses made gains in number of loan applications and certain industries saw higher growth, however, they still need to catch up to non-Latino businesses in many areas,” said Rohit Arora, chief executive officer, Biz2Credit. “It’s an exciting time because Latinos are one of the fastest growing populations in the U.S. with 43 percent growth since 2007. We believe that this population will soon be on par or surpass non-Latino businesses.” 
 
The Top 5 states for Latino-owned small business loan applications were: Texas (16.4%), California and Florida tied at (15.7%), New York (9.1%) and – for the first time – Georgia (3.0%). All five states represented 60% of the loan requests made by Latinos in the past year.

The top industries that grew the most in the past year were: Services (30.5%), which grew 5%; followed by Transportation and Warehousing (8.8%), which grew 3%.

For more information on the study and to view the infographic, please click here. 

About the Biz2Credit Latino Small Business Credit Study
Biz2Credit analyzed the financial performance of more than 1,000 Latino-owned businesses with less than 250 employees and less than $10 million in annual revenues from across the country that have been in operation for more than 1 year, as well as startups.

About Biz2Credit
Founded in 2007, Biz2Credit has arranged more than $1.2 billion in small business financing and is widely recognized as the #1 online credit resource for startup loans, lines of credit, equipment loans, working capital and other funding options in the U.S. Using the latest technology, Biz2Credit matches borrowers to financial institutions based on each company's unique profile -- completed in less than four minutes -- in a safe, efficient, price-transparent environment. Visit www.biz2credit.com, follow on Twitter @Biz2Credit, and join on Facebook at www.facebook.com/biz2credit. See infographic here