Bridging the opportunity gap for minority entrepreneurs

“There has to be some type of representation,” he said. “There has to be some entity or body that says … OK, you represent us as a whole. That’s what we saw … having a chamber that dealt with the minority-owned businesses was crucial.”

And with the support of the San Mateo Area Chamber of Commerce and the statewide organization, the California Hispanic Chambers of Commerce, plans to incorporate the city’s Latino-owned businesses within the some 480 businesses in the chamber’s network have been in the works in recent months, said Maldonado.

Noting the strong entrepreneurial spirit characteristic to many Latino business owners, Maldonado, who is chairing the new committee, said many of them struggle when it comes to creating financial plans, charting expansion to other locations and cities or marketing on social media platforms. In addition to his work as the development director of Peninsula Family Connections, Maldonado said he understands the highs and lows of owning a company, having owned a website computing and graphic design company for the past 11 years and having come from a family of small business owners.

“I think [one of] the biggest unique challenges is if they’re looking to expand or looking to do the next step … how do they start, where do they start?” he said.

Though networking or educational opportunities offered by chambers of commerce could help them move past these barriers, Maldonado said minority-owned businesses have not historically joined business communities for various reasons, whether the monthly dues were too high for mom-and-pop operations or the concept fell outside cultural norms.

Maldonado is hoping that in connecting Latino business owners with the chamber’s educational programs and professionals such as bankers and Realtors, they’ll be able to better navigate the many hurdles business owners face. Among the 38 businesses that have already expressed interest in joining the committee are a moving company, insurance agency, communications firm and a video production company, representing the wide array of Latino-owned businesses making a mark on the area, said Maldonado.

Cheryl Angeles, the chamber’s president and CEO, knows from more than 25 years of experience with local chambers of commerce that a network can be critical to the success of any business. Submitting building plans and permit requests with city government, leveraging new marketing and messaging tools and applying for loans are just some of the obstacles the expertise within a network can address, said Angeles. She is hoping a reduced membership fee for businesses in the new committee will encourage Latino business owners to join and contribute to the chamber’s network.

“The strength of the chamber is the strength of its membership,” she said. “I think if we can help even one business to prosper and grow then I think we’ve done a great job.”

Having owned her business for more than 20 years in Sacramento and the Bay Area, Laura Perez Ehrheart remembers how important collaboration between local businesses has been to her company’s success. As CEO and owner of executive consulting firm Epiphany Consulting Solutions in San Carlos and a board member of the San Mateo Area Chamber of Commerce, Ehrheart said she immediately saw the value of bringing Latino-owned businesses together and connecting them with the chamber’s network.

Ehrheart said many minority-owned companies, especially startups, aren’t always connected with the professional organizations that can help them become financially sustainable and make it past the first few years, which often determines their long-term success.

“They don’t know what they don’t know,” she said. “There’s a lack of awareness of local resources available to them.”

By introducing members of the new committee to opportunities to learn from experts in their fields and other areas with which they are less familiar, Ehrheart is hopeful including Latino entrepreneurs in the chamber’s activities will begin to bridge the gap in opportunities minority business owners face.

Maldonado joined Ehrheart and Angeles in their hope that the effort would both strengthen the broader business community as well as the longevity of local businesses.

“My hope is that we see year over year the increase of Latino businesses … that they have the tools they need to succeed,” he said.

The relaunch celebration will be held 6 p.m. April 7 at the Beresford Recreation Center, 2720 Alameda de las Pulgas.

anna@smdailyjournal.com

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