Times of San Diego
by HEBERTO SANCHEZ
Published: July 1, 2018
How does an economy grow without immigrant entrepreneurs?
Quite simply, it doesn’t.
Which is why President Trump’s new announcement to rescind the Immigrant Entrepreneur Rule, which would allow certain immigrant entrepreneurs a legal pathway to launch companies in the United States, is terribly misguided.
Immigrants start businesses at about twice the rate of U.S.-born Americans. In my home state of California, immigrants make up 27 percent of the population but comprise 38 percent of its self-employed, according to New American Economy
Inland Valley Daily Bulletin
By HEBERTO SANCHEZ |
PUBLISHED: January 15, 2018 at 7:00 pm
We should use the current attention on DACA to call for comprehensive immigration reform to support the 11.4 million undocumented immigrants who are estimated to be living in the United States. The California economy depends on the contributions of these nearly 2.3 million workers who earned nearly $46 billion in household income and paid nearly $2 billion in state and local taxes. More than 170,000 undocumented immigrants started their own businesses and created jobs for Americans in the state, according New American Economy, a bipartisan non-profit that studies the impact of immigration on the economy.
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by HEBERTO SANCHEZ
Published: May 15, 2016
It has been said that Latinos are the "sleeping giant" in the realm of US politics. Some will even argue that this giant is now slowly awakening. The historic sleeping giant analogy has also been used in reference to Latinos' purchasing power and our ability to affect trends. Most frequently, the term is applied in these instances as a reference to Latinos becoming small business owners in increasing numbers. According to the U.S. Department of Commerce, in 2012 there were 3.3 million Latino-owned businesses generating $474 billion in revenue. Today, there are an estimated 4.1 millions Latino-owned businesses generating $661 billion in revenue. The entrepreneur spirit is alive and growing within the Latino population of the United States.
Although Latinos are increasing the number of small businesses and play a substantial role in local job creation and economic development, there is still a misperception or even a lack of knowledge of small business loan programs among Latino entrepreneurs. This is especially true among those owners who run businesses considered too minute to be called small, and are instead considered micro-businesses. These include “mom and pop” storefronts, taco stands and street vendors, but nonetheless exist as an engine for economic development within their communities. Micro-businesses offer upward mobility into the middle class and flexibility that provides Latinos with a sense of pride and accomplishment. This is especially true for Latinas. Therefore, micro-businesses are becoming too important within the Latino community to ignore and making access to capital available for them is paramount....
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by HEBERTO SANCHEZ
Published: April 23, 2016
The financial crisis of 2008 is but a memory to most consumers and many voters. Yet to those who still remember, it is a painful memory of what happens when greed takes hold and the public is uneducated in finances. Since 2008, we have seen legislation and programs at the national and state levels intended to improve financial literacy for both adults and young students.
President Obama proclaimed April 2015 as National Financial Capability Month, and in 2011 Congress established United States Consumer Financial Protection Bureau (CFPB) to protect and educate consumers. As gallant as these efforts are, they and various other initiatives are still accessed by only a few people, and even fewer minorities. This is due to the fact that financial literacy classes, especially those aimed at students, are abstract and provide little to no practical concept to support responsibility for one's own finances. There are indeed some well conceived programs that establish bank accounts for students to teach them how to balance their check books, which is an encouraging first step. That is not enough, however, as the core principals of finance, lending and borrowing, are missing. Financial literacy, directed to students, should be thought using practical financial applications....