Greater Austin Hispanic Chamber of Commerce President and CEO Mark...
A New Chapter in U.S.-Mexico Relations represents a continuation of the GAHCC trade mission to five Mexican cities in December to inspire strong commercial and cultural ties between Austin and Mexico, as Mexico is the number one trading partner of the state of Texas. During the luncheon, Madrid will outline the demonstrative impact of Latina and Latino business in America today, based on findings of the State of Latino Entrepreneurship 2016 study by the Stanford Latino Entrepreneurship Initiative.
Madrids statements about the inception of the event and the mission of the GAHCC:
At the Greater Austin Hispanic Chamber of Commerce we have the unique opportunity not only to see the real-time, direct impact of Latino-owned business in all aspects of our community, but also the countless opportunities for trade and business that are borne from our proximity and links to Mexico. Although the GAHCCs membership is pan-Latino, a notable number of our members, as well as sponsors and partners, are of Mexican heritage. The economic and business value propositions of our communitys links to Mexico are part of the fabric of our work, evidenced by our mammoth, wildly successful trade mission to several Mexican cities last December, in a joint venture with Austin Mayor Steve Adler, the City of Austin Economic Development Department and esteemed delegates.
The GAHCCs goals are clear and surgically precise. We strive to be the center of excellence for businesses and entrepreneurs in the Central Texas Hispanic market. We design and execute programs and initiatives to build our members business capacity and profitability. The result is empowerment of our member businesses to compete and secure procurement opportunities when doing business with larger corporations, both domestically and globally.
The event will highlight the Stanford Latino Entrepreneurship Initiative study findings, which the GAHCC declares are important to the Austin, Texas, and national communities. Among the key insights that the research unveiled:
- There are an estimated 4.23 million Hispanic-owned businesses in our country, contributing approximately $700 billion dollars to the American economy every year.
- The growth rate of Latino companies has doubled or tripled the national average over the past 15 years.
- Immigrants own 29% of Latino firms. 50-60% generate more than $1m in annual revenue and have more than 50 employees- a direct impact on their local economies and communities.
- 75% are located in majority non-Hispanic areas, serving mostly non-Latino clients.
- 60% of Latino companies are found in 4 states: New York (6%, 3.6% in New York City), Florida (12%, 2.1% in Miami), California (22%, 2.1% in L.A.) and of course Texas, at 18%, with 1.6% of Hispanic businesses in Austin.
Madrid continued: The GAHCC invests in lifting Latina and Latino entrepreneurs in our land of the free, home of the brave. There are countless Hispanic success stories dotted with accounts of lack of funding, struggles to be competitive and slow access to real business opportunities with larger corporations. This is not just about empowering Hispanic-owned firms with equal access to networking, continued education, mentorship, and funding and investment. This is not just about keeping the concept of the American dream (sustainable income, equal access to growth, et al) alive. As well, it is about cultivating economic development opportunities, such as a viable, healthy, and thriving relationship with Mexico, Texas' number one trading partner.
Hispanic-American and foreign-born business owners are part of the American dream. They are actively contributing the U.S. economy in an exponential fashion. At a growth rate higher than any other discernable demographic, Hispanic business owners are real drivers of the American economy.
VIP sponsors for the GAHCC luncheon include International Accelerator (IA) and TxMx. IA is dedicated to helping non-U.S. citizen entrepreneurs set up their U.S. company, give it an American look-and-feel, and lay a sturdy foundation to build a global business. TxMx is an association of entrepreneurs in Texas and Mexico that work together to achieve positive changes in the business, political and social arena. TxMx was conceived to identify, assist and support government and non-government initiatives on their objectives with cross-border impact, through the influence and knowledge of its members. The GAHCC is a world-class organization, with which we share common goals and a game-changing philosophy to drive business, respect and impact, states Luis Campos, TxMx Co-Founder and Chair.
Additional sponsors include the Consulado General de México en Austin, Univision Communications Inc. and iTexico.
About the GAHCC: http://www.gahcc.org
For media inquiries, contact Andie Farris, CF Creative: marketing(at)cf-creative(dot)com and (954) 448-7590.