In an event that celebrated Gov. Phil Murphy’s economic mission to Mexico, one that aimed to improve ties and economic connections, leaders of the Statewide Hispanic Chamber of Commerce of New Jersey say they are focusing their attention closer to home.
Last week, Chairman Luis De La Hoz laid out SHCCNJ’s priorities at its ¡JUNTOS! Chamber Talks event – detailing the need for greater access to capital, breaking into the New Jersey market – and understanding the importance of marketing when you do.
De La Hoz, speaking at Ocean Bank’s headquarters in Red Bank last Thursday night, said he is focused on the most prominent challenges Latino-owned businesses face: Access to capital.
“Our members need capital when they start, when they grow,” he said. “Less than 10% of our members own the building where they perform the business.”
The economy’s biggest customer, the government, plays a huge factor in the success of small businesses, awarding them 23% of federal prime contracting dollars. De La Hoz said the SHCCNJ aims to use its connections to steer opportunities to members.
But capital isn’t the only obstacle.
With 2.8 million Latinos in New Jersey coming from different counties and regions, reaching such a varied market can be difficult.
De La Hoz said the SHCCNJ helps bridge the gap.
“We are ready to provide product services,” he said. “We are the ones making introductions, who make those difficult phone calls.”
Sometimes, it’s calling the right person. Other times it can be guiding a small business owner through a training program. Often, it’s helping business owners overcome the data gap.
That gap is most visible online. De La Hoz said only 60% of members bring their businesses to the internet, an amount he considers too low. Not having an online presence can cost business owners grants and programs that could aid them.
To address this, the Chamber offers programs on technology integration.
De La Hoz told the crowd that it’s all about hard work and determination.
“We want to focus on those who have the desire and ability to grow,” he said.
