U.S. Small Business Administration and United States Hispanic Chamber of Commerce Join Forces to Cultivate Hispanic Business - YAHOO!

To: BUSINESS, LABOR AND NATIONAL EDITORS

WASHINGTON, March 21, 2012 /PRNewswire-USNewswire/ -- The U.S. Small Business Administration (SBA) and the United States Hispanic Chamber of Commerce (USHCC) today announced that they have signed a Strategic Alliance Memorandum (SAM) that will support thousands of Hispanic small businesses and entrepreneurs, enabling them to expand and create more jobs.

"The Memorandum signals SBA's renewed commitment to ensuring that Hispanic business has access to the same opportunities to succeed," said Javier Palomarez, President and CEO of the USHCC. "And while there is work to be done, we are confident that Hispanic entrepreneurs will provide a great return on this investment. These businesses not only fuel the American economy, but are also at the leading edge of our recovery."

The SBA is charged with helping to support and protect the interests of small businesses by providing financial and business development assistance, and contracting opportunities to this key group of entrepreneurs. Through this collaboration, the SBA and USHCC will work with national and local Hispanic organizations to increase Hispanic-owned small business participation in SBA programs, including:

-- loan programs and access to capital initiatives; -- government contracting programs like the 8(a) program and the Women-Owned Small Business Program; and -- international trade opportunities to achieve the goals of the President's National Export Initiative.

Mr. Palomarez believes that the alliance will help mine untapped potential. "Despite the challenges brought about by the recession, Hispanic businesses have still managed to thrive, growing over 44 percent in the past five years and generating new ventures three times faster than the general population."

Fueled by the 3 million Hispanic businesses, purchasing power has also risen from $212 billion in 1990 to over a trillion dollars today. In addition, small business represents 64 percent of all jobs in America and Hispanic small business is the fastest-growing segment in that sector.

About The United States Hispanic Chamber of Commerce

Founded in 1979, the USHCC actively promotes the economic growth and development of Hispanic entrepreneurs and represents the interests of over 3 million Hispanic-owned businesses in the United States that combined generate in excess of $420 billion annually. It also serves as the umbrella organization for more than 200 local Hispanic chambers and business associations in the United States and Puerto Rico. For more information, visit www.ushcc.com.

SOURCE United States Hispanic Chamber of Commerce

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Generation Opportunity Says Gas Prices 'Too Damn High' - Hispanic Business

Generation Opportunity today announced a new social media platform, the Facebook page "Gas Prices Are Too Damn High," with over 400,000 fans. The page provides a forum for young Americans hit hard by the rising cost of gasoline coupled with the financial stress caused by the poor economy and lack of economic opportunity, according to a news release.

The gas prices page adds to the 2.4 million young people Generation Opportunity already communicates with through its popular Facebook pages "Being American by GO" and "The Constitution by GO."

"Gas prices are a one-two punch to young people in this poor economy," said Paul T. Conway, president of Generation Opportunity and former chief of staff of the U.S. Department of Labor.

"Rapidly rising gas prices are hitting young people across the country particularly hard, exponentially increasing the cost of most activities they engage in and adding to their costs in finding a job or getting to work," he added.

According to a 2011 poll commissioned by Generation Opportunity, 61 percent of young adults rated energy dependency among the top three national security issues facing the United States, along with national debt and indebtedness to foreign powers.

In the same poll, 70 percent of young adults indicated they would increase the production of domestic energy sources like oil, natural gas and coal.

Also, according to the poll, 77 percent of young Americans indicated they either have or will delay major life decisions as a result of the poor economy, including decisions to start a family, have children, buy a home, and save for retirement.

Generation Opportunity focuses on issues related to increasing economic opportunity and advancing American competitiveness and organizes young people through online voter registration, online training guides and other tactics.

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Office Depot Named a Top Organization for Multicultural Business Opportunities - Hispanic Business

Office Depot, celebrating 25 years as a global provider of office supplies and services, has been recognized by the DiversityBusiness.com multicultural business-to-business website as one of the "Top 50 Organizations for Multicultural Business Opportunities" for the 12th year in a row. Office Depot was ranked 4th on the list, a move up of two spots from last year.

The annual list, dubbed the Div50, recognizes companies for the volume, consistency and quality of business opportunities granted to women- and minority-owned companies. The Div50 has become a highly valued metric of corporate excellence in the diversity space.

"We are proud to be named one of the top organizations for multicultural business opportunities for the 12th consecutive year," said Steve Calkins, senior vice president of Office Depot's Business Solutions Division. "Office Depot is committed to supplier diversity, and our ranking on the BusinessDiversity.com Div50 list further shows our dedication to supporting women- and minority-owned businesses."

Office Depot's comprehensive Supply Chain Diversity program gives Historically Underutilized Businesses (HUBs) ample opportunities to grow and prosper. The company seeks out promising HUBs that are certified minority-, women-, disabled- and veteran-owned to ensure equal opportunity in the supplier selection process. Office Depot also produces an annual HUB catalog that features an assortment of more than 1,600 items from select HUB suppliers.

In addition, the company has affiliations with national organizations such as the National Minority Supplier Development Council (NMSDC), the Women's Business Enterprise National Council (WBENC), the Small Business Administration (SBA), and other organizations that share Office Depot's goal of making a positive impact on economic development through supplier diversity.

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