Latin-Owned Businesses, Execs Connect at LBA Expo
More than 420 exhibitors displayed their services and wares, ranging from merchandising equipment to factoring programs, at the Oct. 15–16 run of the Latin Business Association Expo at the Los Angeles Convention Center in downtown Los Angeles.
The show targeted small and large business owners who are eager to capitalize on the increasing presence of the Hispanic population in the U.S.
Hispanics own almost 1.2 million U.S. non-farm businesses, employing over 1.3 million people and generating $186.3 billion in business, with approximately 127,000 of those businesses run by Hispanic women, according to a report released by the U.S. Census Bureau three years ago.
Los Angeles County accounts for almost 73 percent of Hispanic-owned businesses.
There were a handful of Los Angeles-based manufacturers, including Botana and Gomez Co. Inc., Christina’s Lingerie, A&D Promotions and Bella Sole, at the expo, as well as other apparel-related businesses.
Salvador Lona, vice president of employee benefits at Dodge, Warren & Peters Insurance Services Inc., which works with such local manufacturers as City Girl and Swiss Tex, said his company wanted to add to the show’s cultural presence by offering its services to growing businesses.
“This is a good place to make connections,” he said. A representative from Macy’s West, a division of Federated Department Stores Inc., attended the show to offer visitors more information about the department store’s Minority Vendor Development program, a companywide initiative that began in 1993 and recruits and pre-qualifies new business owners who want to build a working relationship with the company.
“The program makes it a little bit easier for business owners to get their foot in the door and have access to our buyers and decision makers,” said Mitzi Pon Murakami, manager of vendor development.
Expo organizers presented a panel of speakers during the event to discuss Los Angeles as a hub of Hispanic- owned businesses. The roster included Los Angeles County Economic Development Corp. chief economist Jack Kyser; first lady of California Sharon Davis; Minority Business Development Agency national director Ronal Langston; and United States Small Business Administration administrator Hector V. Barreto.
Verizon, Honda, AT&T, Union Bank of California and Macy’s were just a few of the event’s sponsors. —Claudia Figueroa
