Embracing new technologies will be the key to growing Latino businesses, business and civic leaders said Wednesday in announcing that the U.S. Hispanic Chambers of Commerce national convention will be held next month in Sacramento.
The convention will spotlight the growing might of Latino-owned businesses and Latino buying power. More than 2.5 million businesses in the United States are owned by Latinos, taking in nearly $400 billion in annual revenue, according to chamber officials.
California is home to more than a quarter of the businesses – about 700,000 – the most of any state. Latinos' buying power in the state totals $228 billion annually, chamber officials say.
That weighed heavily in Sacramento's favor, said chamber spokesman Dale Crowell.
"It's an easy proposition to come to California. Sacramento is one of the most diverse communities in the nation," Crowell said. "There's a strong Hispanic business community in Sacramento. Sacramento understands the Hispanic business community."
The 29th annual convention will run Sept. 24-27 at the Sacramento Convention Center and is expected to pump about $2.5 million into the local economy.
The convention, targeted at small- and medium-sized businesses, is expected to draw about 4,000 people, officials said. Many figure to come from the Sacramento Hispanic Chamber of Commerce, one of the most active chambers in the state with nearly 700 members.
Latino entrepreneurs must "tap into the new age of commerce to become the new generation of business leaders," said David Lizarraga, chairman of the U.S. Hispanic Chamber of Commerce.
That means finding opportunities in high-tech, bio-tech and clean technologies and in energy, said Lt. Gov. John Garamendi, who chairs the state's Commission for Economic Development.
"How do we adjust the economy to the changes in the nature of energy? We know that small businesses are going to be the solution. They have an incredible role to play," Garamendi said.
Sacramento executive Ken Macias, of the accounting firm Macias, Gini and O'Connell, chairs the California Hispanic Chambers of Commerce. He said it is time for Latino business and buying power to translate into greater opportunities for Latino entrepreneurs.
"We want everyone to know that we haven't gotten our share of the economic pie, but … we're letting our political and business leaders know that it's our time."
Call The Bee's Darrell Smith, (916) 321-1040.
