STARTING A SMALL BUSINESS IS RARELY EASY, BUT IT CAN BE ESPECIALLY DIFFICULT FOR PEOPLE WHO HAVE FACED PAST DISCRIMINATION AND CONTINUING OBSTRUCTIONS. HOWEVER, A SUCCESSFUL ENTREPRENEUR SAYS TECHNOLOGY IS GIVING BLACKS, HISPANICS (LATINOS) AND OTHER MINORITIES IN THE UNITED STATES A BETTER CHANCE.RUNNING A SMALL BUSINESS CAN BE A COMPLEX AFFAIR. AUGUSTO FAILDE (FY-EEL-DEY), A CUBAN-BORN AMERICAN, SAYS ENTREPRENEURS MUST KNOW ALL THE RELEVANT REGULATIONS ABOUT THEIR BUSINESSES AS WELL AS CASH MANAGEMENT TECHNIQUES AND PROMOTION. MR. FAILDE, HIMSELF A SUCCESSFUL ENTREPRENEUR IN THE TELEVISION PROGRAMMING BUSINESS, SAYS IT ONCE TOOK A LONG TIME TO MASTER THOSE SKILLS BUT TECHNOLOGY HAS NOW MADE THINGS MUCH EASIER.
THE TWO TOP HURDLES THAT MINORITIES HAVE FACED IN STARTING A SMALL BUSINESS WERE CULTURAL BARRIERS AND THE KNOW-HOW ABOUT BUSINESS, ESPECIALLY FINANCES AND MANAGING THE BOOKS. THE GOOD NEWS ON THAT FRONT IS THAT THERE IS LOT OF OPPORTUNITY TO HANDLE THAT WITHOUT HAVING TO "RE-INVENT THE WHEEL" (DESIGN AND BUILD SOMETHING THAT ALREADY EXISTS). THERE ARE COMPUTER SOFTWARE AND HARDWARE PRODUCTS OUT THERE AT AFFORDABLE PRICES. THEY ENABLE ANY SMALL BUSINESS OWNER, BUT ESPECIALLY MINORITIES WHO SAY THIS IS A MAJOR ISSUE, TO REALLY MANAGE THEIR BOOKS IN A VERY EASY AND SIMPLE WAY.
MR. FAILDE ALSO SAYS MINORITY ENTREPRENEURS CAN FIND OPPORTUNITIES ON THE COMPUTER INTERNET WHERE THEY CAN PROMOTE THEIR BUSINESSES AND LOOK FOR CUSTOMERS. HE APPLAUDS A NEW ON-LINE SERVICE SPONSORED BY THE U-S GOVERNMENT'S SMALL BUSINESS ADMINISTRATION. THE SERVICE LISTS GOVERNMENT PROCUREMENT NEEDS, GIVING SMALL BUSINESS OPERATORS THE SAME CHANCE TO MAKE TIMELY BIDS ON GOVERNMENT CONTRACTS THAT LARGER FIRMS HAVE HAD.
OF THE ESTIMATED 22 MILLION SMALL BUSINESSES IN THE UNITED STATES, ABOUT 35 PERCENT ARE NOW OWNED BY HISPANICS, BLACKS AND OTHER MINORITIES AND WOMEN. MR. FAILDE SAYS HE HAS NOTED MANY MINORITY GROUP MEN IN THE UNITED STATES ARE NOW EXPRESSING INTEREST IN BECOMING ENTREPRENEURS.
THE SURGING ECONOMY HAS BYPASSED MANY BLACK MEN, THE SAME THING WITH MANY HISPANIC MEN AND WOMEN. I THINK SMALL BUSINESS PRESENTS OPPORTUNITIES THAT ARE NOT AVAILABLE IN LARGE COMPANIES. THE ABILITY TO CONTROL YOUR OWN DESTINY REALLY ATTRACTS QUITE A NUMBER OF MINORITIES WHO WANT TO TRY TO MAKE IT ON THEIR OWN.
AUGUSTO FAILDE SAYS MINORITY ENTREPRENEURS NEED NOT BE LIMITED TO SELLING PRODUCTS OR SERVICES TO THEIR OWN RACIAL OR ETHNIC GROUPS. BUT HE BELIEVES IT IS USUALLY WISE TO HAVE THAT BASE, AT LEAST INITIALLY.
YOU SHOULD NOT NECESSARILY FOCUS STRICTLY ON YOUR COMMUNITY, WHETHER IT IS AFRICAN-AMERICAN, ASIAN, LATINO OR WOMEN. AMERICA IS CHANGING. IN THE NEXT CENTURY, ONE OUT OF TWO AMERICANS WILL BE MINORITIES. SO HAVING A BUSINESS WITH A BASE IN A COMMUNITY THAT YOU ARE SENSITIVE TO CAN OFTEN GIVE YOU A JUMP INTO THE LARGER PLAYING FIELD (LARGER MARKET). I THINK THAT IS WHAT MANY MINORITY-OWNED SMALL BUSINESS ARE DOING. THEY LEVERAGE THEIR CULTURAL HERITAGE IN A GROWING CONSUMER MARKET.
MR. FAILDE SAYS AMERICAN MINORITY ENTREPRENEURS CAN ALSO SOMETIMES HAVE AN ADVANTAGE DOING BUSINESS INTERNATIONALLY BECAUSE THEY HAVE SPECIAL INSIGHTS INTO OTHER CULTURES. HIS OWN BUSINESS IS A GOOD EXAMPLE, HAVING SOLD SPANISH LANGUAGE TELEVISION PROGRAMMING BOTH IN THE UNITED STATES AND IN SEVERAL LATIN AMERICAN COUNTRIES.
06-Jun-97
Source: Voice of America