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Chambers of commerce

SHCCNJ Hosts Feria de Negocios Expo, Focusing on Access to Capital, Markets, and Networks for Hispanic Small Business Owners

Strategic Insights

— 1 min read

The Statewide Hispanic Chamber of Commerce of New Jersey (SHCCNJ) hosted its annual Feria de Negocios, the largest Latino small business expo in the Northeast, on July 17 in Edison, attracting over 1,500 attendees. The event provided a platform for business owners, entrepreneurs, community leaders, vendors, and gubernatorial candidates to share their businesses, products, and services, while also offering robust networking opportunities. SHCCNJ President and CEO Carlos Medina emphasized the importance of having a seat at the table and supercharging the economy with the Hispanic population, which is growing.

Key Takeaways:

  • Over 1,500 attendees joined the Feria de Negocios, the largest Latino small business expo in the Northeast.
  • SHCCNJ President and CEO Carlos Medina highlighted the Hispanic business community's significant contribution to the state's economy, with a GDP of $100 billion annually in New Jersey and $1 trillion nationally.
  • The event focused on the four biggest challenges Hispanic small business owners face: access to capital, access to new markets, access to networks, and the digital gap.
  • SHCCNJ Chairman of the Board of Directors Luis De La Hoz emphasized the importance of entrepreneurship in overcoming poverty, with Latinas starting businesses six times faster than any other ethnic group.
  • Rep. Mikie Sherrill (D-11th District) and Democratic gubernatorial candidate sent video remarks, pledging to address issues such as the state's disparity study and public contracting/procurement.
  • Jack Ciattarelli, Republican gubernatorial candidate, spoke about his plans to grow the economy by making New Jersey a better place to do business, particularly for entrepreneurs and small businesses.
  • Ciattarelli criticized Gov. Phil Murphy for not doing enough to improve public contracting for minority-owned businesses and promised to take executive action to address this issue.

Statistics:

  • Over 1,500 attendees joined the Feria de Negocios.
  • The Hispanic business community's GDP in New Jersey is $100 billion annually.
  • Latinas start businesses six times faster than any other ethnic group.
  • Minority-owned businesses are not getting their fair share of state contracts, according to a disparity study.
  • 140,000 Latino small business owners are operating in New Jersey.

Sources:

  • "SHCCNJ to Hold Feria de Negocios in July." SHCCNJ website.
  • "Feria de Negocios 2023: Celebrating 14 Years of Excellence in New Jersey." SHCCNJ website.
  • "Hispanic Chamber CEO Says Disparity Study Shows Minority-Owned Businesses Lack Access to Capital." NJBIZ.
  • "Ciattarelli to SHCCNJ: I'll Make NJ a Better Place to Do Business." NJBIZ.

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