| This
Families in Focus special focuses on the unique challenges
facing minority owned small businesses and examines the
resources available to help them grow and succeed. The panel
addresses cultural issues that impact business planning
including the use of cash vs. credit for business transactions,
establishing lines of credit, reporting income to the IRS,
and insuring the business against liability. The lack of
information currently available to communities whose primary
language is not English is also examined. Further, the panel
considers barriers to accessing capitol faced by minority
-owned businesses, the lack of procurement opportunities
for state and federal contracts once protected by "set-asides,"
and the disproportionately high tax burden shared by all
small business owners. This panel of diverse small business
owners and a representative from the Small Business Administration
(SBA) discuss programs and services that offer technical
and financial assistance to entrepreneurs, as well as tips
for success and suggestions for avoiding common pitfalls
that lead to failure.
Tape piece - Produced by Paula M. Levine.
When Patricia Mendez met her husband in 1999, they had several
things in common. They were both from Ecuador and they shared
a common passion - food. Three years later, they decided to
turn their passion into a new business. They started with
a little money, an old van, and an idea ... why not supply
food products to Ecuadorian immigrants who missed their favorite
homeland foods? Four years later, they own a 5,000 sq foot
warehouse, a new truck and van, and have 6 full-time and 2
part-time employees. We'll talk with the Mendez' and find
out how they did it. And we'll see their operation in action.
We'll also talk with Dennis Rasugu of the Small Business Development
Corporation, who helped the Mendez family get their small
business loan.
Brenda Hopper |
Fernando Alonso
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Trib Singh
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Robin Berg Tabakin
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Wade Hudson
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Guests
Brenda Hopper
- State Director of the New Jersey Small Business Development
Centers, which provides management consulting and training
services to New Jersey businesses.
Fernando Alonso - An attorney who serves
the Hispanic community.
Trib Singh - President & CEO Hi-Tech
Systems, Incorporated. Trib was recently named New Jersey's
Small Business person of the year.
Robin Berg Tabakin - State President,
New Jersey Women and Business Organization and owner of
Tech-no-force.
Wade Hudson - President and CEO of Just
Us Books, Incorporated.
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