az2013, women-owned business enterprise report

7/29/2019 AZ2013, Women-Owned Business Enterprise Report

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women-ownedbusiness enterprise

report

ArizonAHispAnic cHAmberof commerce

pHoenix mbDA business center

mah 2013

presented by

WestGroup reseArcH

research conducted by:


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FOREWORD

Do Wome-Owed busiesses ace uique challeges? What are their strategies or success? Whatresources do the rel upo? Who do the metor? Who are their role models? What does the uturehold or wome i Arizoas busiess commuit?

These are just a ew o the questios eplored i the 2013 Women-Owned Business EnterpriseReportpart o the Arizoa Busiess Research Series commissioed b the Arizoa HispaicChamber o Commerce ad the Phoei MBDA Busiess Ceter. The frst report ocused o Miorit-Owed busiesses sice 2007. A comig report will eamie Hispaic-Owed busiesses i thesummer ollowed b oe more i that series eaturig Famil-Owed busiesses. I the all, theChamber will release its aual DATOS: Focus on the Hispanic Market, a detailed aalsis ocosumer ad demographic treds i Arizoas Hispaic commuit.

The goal o these studies is simple but sigifcat: to coduct research that oers decisio-maers thedata ad aalsis ecessar to mae iormed choices about the uture o Arizoas ecoom.

To that ed, the 2013 Women-Owned Business Enterprises Report provides isights ito thechalleges, strategies, characteristics ad resources o this icreasigl importat segmet oArizoa busiesses. Give the state o Arizoas rapid ecoomic recover, uderstadig howWome-Owed busiesses ared durig the recessio ad how their owers eel about the uture iscritical to the process o shapig our ecoom.

Arizoas Wome-Owed Busiess Eterprises (WBEs) are part o a demographic ad ecoom-ictrasormatio happeig atiowide. I 2012, the U.S. was home to more tha 8.3 milliowomeowed busiessesgeeratig earl $1.3 trillio i reveue ad emploig earl 7.7millio people, accordig to a recet stud commissioed b America Epress. Over the past 15ears, the umber o Wome-Owed busiesses has grow more tha 54 percet ad reveues areup more tha 58 percet. Latia etrepreeurs, meawhile, are the astest-growig sigle segmeto small busiess eterprises overall i the Uited States.

The stud speas to the ature ad characteristics o etrepreeurship across our commuities,but we also hear directl rom wome busiess owers who have spet most o the past fve earsstrugglig to survive the ecoomic dowtur.

The studs most ecouragig result ma be the setimet amog a strog majorit o Arizoa WBEsthat their facial situatio will improve i the comig ear.

sa ha h f h y, Aza p sv, a wrah (which coducted the stud) or beig a part o this iitiative.

As we cosider the results o this report ad the epadig role o Wome-Owed BusiessEterprises, eve as we mar Iteratioal Womes Da, we believe this stud ca serve as aremider to Arizoas leaders that the uture ecoomic sustaiabilit o our state depeds more ad

more ever da o the ecoomic vitalit o its Wome-Owed busiesses.

welcome to wbe report

Gonzalo a. dela Melena, Jr., MBaPresidet & CEO

Arizoa Hispaic Chamber o Commerce

PaMela WilliaMson, Ph.d.Presidet & CEO

Womes Busiess Eterprises Coucil-West


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4 2013

ACknOWLEDGMEnTS

Acknowledgments

ArizonAHispAnic cHAmberof commerce

ArizonApublic service compAny

pHoenix minoritybusiness Development AGencybusiness center

WestGroup reseArcH

Womens business enterprise council West

collaborating organizations

endorsing organizations

CarMen G. Martnez, Graphic Desig Director

terri MorGan, Productio Maager

JaMese. GarCia, Co-Editor

MoniCa s. VillaloBos, Co-Editor

teleMundo, Video Profle Productio

BC GraPhiCs, Priter

production teaM

forProVidinGinsiGhtsdurinGtheresearCh

MiChael Woodardarizona PuBliC serViCe CoMPany

daVid GarCia, Ph.d.arizona state uniVersity

andrea Whitsettasu Morrison institutefor PuBliC PoliCy

laura fullinGtonMaCeriCh

alika kuMarMinority Business deVeloPMent aGenCy Business Center

MiChele ValdoVinosrePuBliC Media

JaiMe BoyduniVision

PaMela WilliaMson, Ph.d.WoMens Business enterPrises CounCil West

azhCC latina Business enterPrises CoMMittee

speciAl tHAnks

Gonzalo a. dela Melena, Jr.arizona hisPaniC ChaMBerof CoMMerCe

JaMese. GarCiaarizona hisPaniC ChaMBerof CoMMerCe

MoniCa s. VillaloBosarizona hisPaniC ChaMBerof CoMMerCe

dr. loui oliVasarizona state uniVersity

Glenn iWataWestGrouP researCh

katy GallertWestGrouP researCh

research teaM


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TABLE OF COnTEnTS

acknowledgMents

study highlights

conclusions

study Findings

section i. challenges:What types of challenges have Women-oWned business enterprises (Wbe) faced?

section ii. strategies and successes: What steps have these businesses taken to succeed?

section iii. resources and role Models:Which resources have Wbe relied upon to run their businesses?

section iv. business characteristics: What are the characteristics of Wbe?

section v. owner characteristics: Who oWns these business enterprises?

section vi. the Future:What do these oWners think about the future of their business?

business proFiles:

GREAT IMPACT

AxIS EMPLOyMEnT

nATUROPATHIC VITALITy WELLnESS CEnTER

study background and Methodology

end notes

4

7

9

12

17

22

30

39

41

10

28

45

50

53

tAble oF contents


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2012 Cox Communications Arizona, LLC, dba Cox Communications. All rights reserved.

Cox Communications commitment to diversity extends beyond

our workplace into the communities we serve. Cox is proud and

committed to serving our ever-growing Hispanic community.

When it comes to supporting our community,


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72013

STUDy HIGHLIGHTS

t 2012 wm-o b e (wbe)

, , a . t p Mbda bc a h cm cmm

, , , m a wbe .

a 421 a wbem a o 2012. t

, m .a m m 2007 SRP Arizona Business

Study - Focus on Women-Owned Businesses1, .

studY HigHligHts

Challenges

Commo busiess caeges WBEs aceda wide rage o challeges i 2012 ad elt their most

sigifcat obstacles were related to ruig their busiess

surviving the recession, accessing capital, and fnding new

customers.

Uique WBE caeges Approimatel oei our WBEs eperieced challeges specifc to beig a

Woma-Owed busiess being taken seriously, overcom-

ing negative perceptions, and/or being treated dierently.

The tpes o challeges metioed icluded customers/pro-

spective customers preerring to speak to a man or custom-

ers/prospective customers did not eel the company was

capable o doing the job because it was woman-owned.

strategies/aCComplishments

Wo ade/Peseee The most commorespose to the challeges aced b WBEs was to prove the

challegers wrog through hard work, perseverancead

showing they can do the job.

Positioig te busiess Most WBEs tooadvatage o beig Wome-Owed busiesses b network-

ing with other WBEs (56%), ad using their status to pursue

contracts (42%). I 2012, sigifcatl more compaies

promoted their WBE status (41%) tha i 2007 (25%).

Suiig ad gowig The top accomplish-mets WBEs metioed were the longevityo the busiess

ad beig able to survive the economic downturn (48%),

ollowed b growing a fnancially successul business

(35%).

I survived the great recession. I have created an

extremely diverse customer base, which is what keeps

me sae through the recession.

resourCes/role modelsAsig o ep Hal o the WBEs (50%) soughtassistace rom outside orgaizatios to help with their

busiess. Resources used icluded industry organizations

(31%), ederal government(SBA 20%), ad local govern-

ment/chambers (17%).


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8 2013

STUDy HIGHLIGHTS

Pesidet Baa Obama, OpaWie, Doad Tump ad Bi Gates These are the top our idividuals metioed i aswer to

the questio, I ou could have a two (or three) peoplei this world visit our busiess, ad their itetios were

specifcall to help our busiess, who would ou wat

these people to be?

Politicians was the categor o idividuals that

was metioed most ote, ollowed closel b

business

Maetig ad facig WBEs greatest

eeds were help with marketing their business (metioedb 30%) ad fnding capital(14%). While these eeds

were commo to most busiesses, these also represet the

best opportuities to help WBEs.

Most busiesses are sel-uded ad rely on

personal loans or profts rom the business to

face epasio or a capital improvemets/

ivestmets.

Business CharaCteristiCsCharacteristics o the tpical WBE icluded:

Almost hal (42%) were sole proprietorships; oe

quarter (27%) were S Corporatios.

Media reveue i 2011 was $155,910, which

was higher tha $119,900 i 2007.

Media umber o emploees was 3 people.

Media age o the compa was 16 ears old.

Hal were Famil-Owed (53%)

Hal were home-based busiesses (46%)

Customer bases iclude both retail (54%) ad

busiesses (56%)

Hal coducted busiess atioall (46%)

Oe-fth coducted busiess iteratioall (21%

Maetig sti impotat More tha two out

three (69%) WBEs spet moe o maretig ad

advertisig i 2011. The average amout spet o

maretig/advertisig was $12,720 i 2011.

Cagig commuicatio media WBEsused a broader arra o media to advertise i 2011. Use

o the Iteret to reach customers icreased to 77% i

2011 rom 44% i 2006. O the other had, use o

ewspaper advertisig dropped to 30% i 2011 rom 46%

i 2006.

owner CharaCteristiCsCharacteristics o the owers o WBEs icluded:

Hal had college degrees (53%).

Median age was 57 ears old.

Median income was $72,520.

Compaed to te geea popuatio

WBE owers were twice as liel to have a college degree

ad had 50% higher aual icome compared to the

states media household icome.

the FutureImpoig ecoomic utue Most WBEs

elt that their fnancial situation will improvei the

et 12 moths (58%). Ol 8% aticipated that their

situatio will become worse. This optimism was dow

slightl rom beore the recessio (67% elt their fa-

cial situatio would improve i 2007).

Epasio pas Almost hal (47%) plaed

o expanding their business during the next fve years.

Ol 9% plaed to shri their busiess.

Addig jobs I the et two ears, hal (49%)

o the WBEs plaed o addig at least oe perso

to their sta; ol 4% plaed o decreasig their

umber o emploees.

study highlights


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COnCLUSIOnS

conclusions1. Beyond survival WBEs mared the survival o the ecoomic dowtur over the pastfve ears amog their biggest accomplishmets. Few o these compaies eperieced widespread

growth sice 2007 ad most o these owers have made persoal sacrifce i time ad moe to mae

it to 2012. These busiesses appear read to grow ad are willig to pa the price to succeed at the

et level.

2. asking For help WBEs are ot araid to as or help (ederal, state, local, educatio,idustr, associatios). Orgaizatios iterested i helpig WBEs have opportuities to assist thesebusiesses i the ollowig areas:

OvErCOMInG nEGATIvE PErCEPTIOnS Oe i our WBEs still eperi-ece some level o discrimiatio ad eed help provig their abilities to a septical customer

base.

MArkETInG/SAlES WBEs eed help reachig ew customers ad retaiig/com-muicatig with eistig customers, especiall i this slow recoverig ecoom. WBEs are

trig to use their status to quali or cotracts ad could use assistace with this process.WBEs uderstad the eed ad value o maretig/sales/advertisig ad have show that

the are willig to ivest time ad moe i these areas.

InTErnET/TOOlS WBEs have tured to olie tools to help promote their busiessad commuicate with prospective ad eistig customers. The appear ope to

cotiue trig ew Iteret tools.

FInAnCInG Eve though most sel-face, WBEs eed capital sources to grow.

GrOWTh

Hal o the WBEs pla o growig i the et fve ears. The will eed helpi facig, stafg, acilities, ad operatios amog other e actors eeded to

successull mae the et steps or the busiess.


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10 2013

BUSInESS PROFILE

great iMpact!, inc.

owner: teresa ornelas

what is the history oF the Company?

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Photo b James e. Garcia, AZHCC

GrEAT IMPACT!, InC.TErESA OrnElAS

[480] 777.2226124 w. o s. #F8

tm, a 85283

what is great impaCt!, inC.?

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BUSInESS PROFILE

great iMpact!, inc., teresa ornelas

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mm . i 2000, m m

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how did the eConomiC downturn aFFeCt great impaCt!,inC.?

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how has Being a minority/woman aFFeCted how you runyour Business?

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what have Been your Biggest Challenges as a minority/woman-owned Business?

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what has Been your Biggest suCCess with yourBusiness?

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what adviCe would you give to a latina wanting to start

a Business?

Know what you want to build 1. s m

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Values are extremely important 2. k

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Develop a reporting system to measure your success 3.

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12 2013

STUDy FInDInGS

studY Findings

section i challenges

Being taken serously w mf , wbe m - surviving the economic downturn, raising capital, and ndingcustomers. t - q same challenges as any other business(26%). t wbe being taken seriously (12%). rmm m :

They wanted to speak to a man.

They did not think I was capable o doing the job.

They assumed I was not qualied.

recessio/Fiacig i 2012 t m -m ( dm 2007) m 2012. t m /m f/ f m2007 2012.

Oecomig peceptios w , 28% overcoming negative perceptions o being a Woman-Owned business f/m .

Teated dieet a 28% m,I think some o my business contacts, such as suppliers or customers treatme dierently.

w wm-o (wbe) ?

note: r 2006 2007 f m 2007 srp a b s

F wm-o b2.


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The MBDA Business Centers in Phoenix and Pasadena, serves minority-owned firms seeking to penetrate new markets,domestic & global, and growing in size and scale. Whether its securing capital, competing for a contract, identifying a strategicpartner or becoming export-ready, your success is our priority.. We assist in securing large public and private contracts andfinancing transactions, stimulating job creation and retention, and facilitating entry to global markets for eligible minoritybusiness enterprises (MBEs).

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255 East Osborn Road, Suite 202, Phoenix AZ 85012 602-248-0007155 N. Lake Avenue, Suite 870, Pasadena, CA 91101 626-664-4880

www.phoenixmbdacenter.com; Operated by the Arizona Hispanic Chamber of Commerce

Services to Grow your business:

Global Entrepreneurship;Access To Capital/ Financing;Access to Procurement/Bid Opportunities;Access to Markets

Marketing; Bidding;Networking;Minority Certifications;Management Consulting

www.phoenixmbdacenter.com


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CHALLEnGES



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CHALLEnGES



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602.707.0050 | westgroupresearch.com | [email protected]

Know Your Customer

Customers, Clients, Constituents, Stakeholders...whatever you call them, knowing who they are and what

they want is critical to your success.

At WestGroup, weve been helping companies connect

with customers for over fty years, regardless of who they

are, where they live, or the language they prefer.

WehopethisMBe reportprovides

theinsightsyouneedtohelpMakeadifferenceWith

Minority-oWnedBusinesses.

Give us a call or visit our website for more information on how we can help you stay in touch.


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STRATEGIES AnD SUCCESSES

section ii strategies and successes

Woig ade t m m - wbe m /--

, -mm, -m - work harder, learn more/

gain more education, and build a good reputation. t

m m 2007.

Peseeace t m wbe : be determined and not give up (21%),

work harder (11%), do not let your gender aect your business (11%),

and learn as much as you can about your industry/eld (10%)..

Positioig te WBE status cm wbe m, .

Network with other WBEs 56%

Use WBE status to pursue contacts 42%

Promote their WBE status 41%

sf m wbe promoting their WBE status 2012 (41%)

2007 (25%).

Suiig t m f mm wbe the longevity o their company to stay in business through-

out the economic downturn (48%). t m m m-

m growing, nancially successul business (35%).

what steps have these Businesses taken to suCCeed?


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aCComplishments/suCCess stories

WBE commets

I have been in business since 1999 longevity! All o my new clients are by reerral. I do not have to invest inmarketing and many clients I had rom 10 years ago are still my clients. Im still building relationships.

Being able to touch the lives o thousands o woman in a more positive way. The ability to support mysel andmy amily To have the reedom o putting my priorities in order: God rst, amily second, career third.

I would say one (accomplishment) would be that my mom and I have basically run this business since the 70sand weve done a good job. We try to employ more women, keep women employed with kids, and try towork with them and their schedules.

I am a master engraver, which is signicant or a woman.

I survived the Great Recession. I have created an extremely diverse customer, base which is what keeps me saethrough the recession. I am highly regarded in my eld on a national and international level.

WBE commets

Work hard, give good service, and satisy the customer and mysel. See that everything is taken care o and ingood order. Take care o any complaints that come up.

Dont be discouraged. You just keep doing it and keep getting your name out there. Let people know that youare available. Dont give up. You BUILD your business; youre not given it. Building a business is working or itand ollowing through on promises.

Do a detailed business plan; the devil is in the details. I you dont know what the small little tiny details are,those are going to be the things that will stop you rom being successul. People like to ocus on what they liketo do. Sometimes they dont ocus on what the customer wants. The other thing they dont do is gure out cashfow and that is so huge. You can get messed up in cash fow and get your business turned upside down bynot paying attention to it. I you cant perorm, people wont use you.

Have six months cash in the bank beore you start out. Dont take no or an answer. Dont wait or the phoneto ring. Network.

adviCe to women-owned start ups


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RESOURCES AnD ROLE MODELS

iF you Could have anyone in the world visit your BusinessWBE commets

Barack Obama, because he is the President and I would like to be able to talk to him regarding my concerns withinsurance.

Oprah Winrey, because I would like to get some money to expand.

I would have Steve Jobs, because o his business acumen He was so successul with Apple.

Bill Gates, because o his business knowledge and success building working teams.Warren Buet, because o his ability to market his business.

I would like to talk with all three o them, because they are able to market their brand.

Oprah, because she is always looking to help small business, and people that are trying help themselves.

A bank, to see what is really going on in the small businesses.

section iii resources and role Models

reiace o outside ep - h wbe (50%) m

. t was

trade organizations and industry publications q

(31%), ederal government(sm b

am 20%) local government and chambers o com-

merce(17%).

need ep maetig ad facig w m f f, -

m marketing/increasing sales (30%). t m m gain access to

capital(14%).

Se -face M wbe /m m m f -

(49%). am m

, 16% m mm mm .

w , 16%

.

Tustig poiticias i () ,

f ,

? t wbe

politicians (18%) (note: s m

2012 ). t business

advisors (16%), business leaders (16%) TV/movie personalities

(14%).

President Barack Obama

(10%). i 2007, wbe m - om.

o m 2012 Oprah Win-

rey(8%), Donald Trump(5%), Bill Gates (5%), Mitt

Romney(4%).

i 2007, Oprah Winrey (9%), Bill

Gates (7%), Donald Trump (5%) Janet Napolitano

(5%).

whiCh resourCes have mBe relied upon to run their Businesses?


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602.252.WNBA (9622) PhoeNixMercury.coM

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s e p t e m b e r

F. 6 San Antn 7PMF. 13 San Antn 7PM


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28 2013

BUSInESS PROFILE

axis eMployMent

owner: tran tranwho is axis employment?

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how did the eConomiC downturn aFFeCt axisemployment?

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AxIS EMPlOyMEnT SErvICES, llCTrAn TrAn

4710 n. 16 s s 201, p az 85016[602] 242.2626

[email protected]

11

Photo b Adrea Cotreras Desig


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292013

BUSInESS PROFILE

to what do you ContriBute the suCCess oF the

Company?

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how has Being a minority aFFeCted your outlookwhen running your Business?

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what have Been your Biggest Challenges as a

minority-owned Business?

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what adviCe would you give to someone starting up aBusiness?

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Have passion or what you doF

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Continue to persevere i f

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axis eMployMent tran tran


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BUSInESS CHARACTERISTICS

section iv business characteristics

a -m m. i , m m fm . t f m .

Compaies suiig te ecoomicdowtu - a f wm-o :

am (42%) sole proprietorships; q

(27%) S Corporations.

M 2011 $155,910, f $119,900 2007.

M m m 3 .

M m 16 .

h Fm-o (53%)

h m- (46%)

cm (54%)

(56%).

Aizoa WBEs coducted busiess botatioa ad iteatioa am (46%) u s a; 21% . t m m 2007 .

am

c h - M s (66%), c, c, n,n M t.

da sh v - t s 2007 f (89%) 2012.

A a h u.s. - o (31%) m .

pay h Aza - M m a - 68%

a, 32% a u.s.

Among those who conduct business internationally

n j mx -h e (53%), c (45%). a (29%) M (26%).

gh ea - wbe - e f 2007 (53% 2012, 34% 2007).

evyh -o q (28%)

m .

s h Aza -M a - 62% az, 32% az, us, 6% .

Maetig sti impotat M (69%) wbe m m 2011. t m m/ $12,720 2011, $10,610 2006. (note: wbe

. F 2012 , wbe mm 2011 m/ ).

Iceasig Spais-aguage maetig/

adetisig t wbe s- m 13% 2011 m 8% 2006.

Cagig commuicatio media wbe m 2011. u i m 77% 2011 m 44% 2006.o , 30%

2011 m 46% 2006.wbe i mm /m customers 62% promoted through their website, 49% through

m (.., F), 17% m(.., g, y).

u m f 2012, (41%), (40%), m (36%).

what are the CharaCteristiCs oF mBe?


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WOMEN-OWNED BUSINESSES

2007 2012

Bod fgures are sigifcatl dieret compared to 2012n/A not ased i 2007

sample size

oWnership

s p

C

s C

pllC

median revenue

median number of employees

median age of company

business descriptions

F o

i F

h-B

n pf

customer descriptions

r C

B

g

geographic scope

Cc B i

Cc B n

495

51%

16%

17%

7%8%

$119,900

3

11 years

59%

n/a

50%

3%

n/a

n/a

n/a

20%

48%

421

42%

13%

27%

8%9%

$155,910

3

16 years

53%

18%

46%

4%

54%

56%

31%

21%

46%


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332013




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34 2013




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352013




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36 2013




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40/60

W pakth lagag

Th lagag...of Business

Join Today at www.AZHCC.com or [602] 279.1800

The ArizonA hispAnic chAmberof commerce

ROsA MACAsCeO, Mblra dl sol

AZHCC Member

i pak th lagag


41/60

392013

OWnER CHARACTERISTICS

section v owner characteristics

c wbe :

h college degrees (53%).

M 57 .

M m $72,520.

Compaed to te geea popuatio - wbe 50% m m

m m *.

2009 a education attained- 26% 3 m 53%

m .

2011 a median household income -$46, 709 4 m

$72,520 m .

* note: t m wbe m -

f 2011 m m m

m m wbe m. t wbe

m a m.

Impact om te ecoomic sowdow - dm wbe

f m 2007 2012. o f

m wbe 2012 ($72,520)

m 2007 ($71,200).

who owns these women-owned Business enterprises?


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40 2013

OWnER CHARACTERISTICS

section v owner characteristics

sample size

demographics

m a

pc c ec

m h ic

culture/language

B u.s.

WOMEN-OWNED BUSINESSES

2007 2012

495

54 years

46%

$71,200

93%

421

57 yEArS

53%

$72,520

91%

Boded fgures are statisticall dieret.


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412013

THE FUTURE

section vi the Future

Impoig ecoomic utue M wbe nancial situation will improve 12 m (58%). o 8% become worse. t mm

m (67% f m 2007).

Epasio pas - am (47%) expanding their business during the next veyears. o 9% .

Addig jobs - i , (49%) wbe ; 4% m m.

what do these owners think aBout the Future oF their Business?


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42 2013

THE FUTURE



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432013

THE FUTURE



46/60

I N P A R T N E R S H I P W I T H

P R E S E N T

&

AZ Million DollAr

CirCle of exCellenCeL e a d i n g t h e W a y i n S u p p L i e r d i v e r S i t y

AmericAn express

ArizonA public service (Aps)

ArizonA stAte university (Asu)

At & t

bAnk of AmericA

centurylink

city of phoenix AviAtion

cox communicAtions

hensel phelps construction co.

pepsico

sAlt river project (srp)

southwest GAs

sundt construction

university of phoenix

wAlmArt

2012 inDuCtees


47/60

452013

BUSInESS PROFILE

naturopathic vitality wellness center

owner: dr. Judy hinoJosa-sinks

what is naturopathiC vitality wellness Center?

natuopatic vitait Weess Cete m m m. w , - m, , -m m m, m . w m : , , ( m c ), b-12, b-6 j.w m m . w / m .

Photo b James e. Garcia, AZHCC

nATUrOPAThIC vITAlITyWEllnESS CEnTEr

Dr. JUDy hInOJOSA-SInkS

2165 e. w r. s 104tm, az 85284

w

m, iv, j, m m.

F m m f m . sm mm m ; m , , ,, , mm.


M n M m

, e, m m m.i m u s i 18 asu m p wm s h. M f i mm m . a masu, i m n M m m m.

i 2008, i m s c n

M tm h - v i m . a , i m . i m m m i mm m i m . w

200 f . w 1,000 .


48/60

46 2013

BUSInESS PROFILE

naturopathic vitality wellness center dr. Judy hinoJosa-sinks

to what do you attriBute your suCCess so Far?

i m

. i m . c m m . i m m m mm m f m. M m n M m m .t m , m m m . t .

what have Been the Biggest Challenges your Business hasFaCed?

i , m f m . i m m m . i m m m .

how has Being a minority/woman aFFeCted how you runyour Business?

i m l . i m m h m m , i m .w i m , m e m, .

i m m m , i fm m i , , m. t , m m . i mm

m m/mm mm m, m .

what have Been your Biggest suCCesses as a Company?

e m .i j m i m m 15 . i i ij , i m , i i .

what adviCe would you give to someone starting up aBusiness?

i m, m , . i m m m, m .

i mm - m . h

m . m m 100%.

what has Been your Biggest suCCess with yourBusiness?

M m m m . F m, m m m .sm m m , m m ( , m, j , m m), . i

. s m, .

what adviCe would you give to a latina wanting to starta Business?

Establish boundaries 1. t m . t m mm .

Surround yoursel with the right people2. n m m m . h m m m .

Dont give up 3. F m m . y mmm m .


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MORE COVERAGE THAN ALL

OTHER NETWORKS COMBINED.

0113-F8112

IN OVER 450 MARKETS.

.S.Uehtnistekram054nahteromnielbaliavasiETLG4.ISTEfokramedartasiETL.moc.wzvees;derevocselimerauqsnodesabmialcegarevoC .sseleriWnozireV3102


50/60

ArizonA HispAnic cHAmber of commerce

255 E. Osborn Road, Suite #201, Phoenix, AZ 85012 | [602] 279.1800 | www.azhcc.com

2013 Latina Business enterprise MeMBers:

FormoreinFormationregardingjoiningthe LBe grouporattendingupcomingeventspLeasevisitwww.azhcc.comorcontactAngie MorteMoreatthe azhcc oFFiceat: [602] [email protected]

The Lata bu et (Lbe) group is an integral part o the AaHa cha c and an infuential resource or Latina-owned

businesses and serves as an advocate or small business issues.

Mission: The Latina Business Enterprises (LBE) group is aligned with the vision of theAZHCC and focuses on the interests of Latina-owned small to mid-size businessenterprises throughout the state of Arizona by providing access to information, buildingbusiness relationships, providing resources, facilitating business workshops and servingas an advocate on issues impacting small businesses.

olgA Aros,ORA WORldWideCOnsultAnts, lBe ChAiR

sAndrA gonzAlez,stAteFARm, lBe ViCeChAiR

Yvonne FAustinos,AmeRiCAnAssOCiAtes ReAl estAteAnd inVestments

ruth enriquez,BAnkOFAmeRiCA

MArisA BenincAsA, CAnCeR tReAtmentCenteRsOFAmeRiCA

AnA c. MArshAll,meRRill lynCh

connie PArrA,humAnA

christinA ArellAno,ARizOnA hispAniCChAmBeROFCOmmeRCe

througheventsandworkshopsthoseseekingtoLearnmoreaBoutreachingthe Latinamarket, gaintheopportunityFor:

bu ad al dvlt

A t u u ad duat

ntwkg tut ad uty utah

F O L L O W U SU P C O M I N G E V E N T S


51/60

492013

lAtinA-owned business enterprises

Challenges/needsFidig ew customes Latias were twiceas liel to metio that fnding new customers/contracts

was their most signifcant challenge(14% compared to 7%

amog all other WBEs).

Oecomig egatie peceptios Latiaswere more liel to eel that overcoming negative percep-

tions o being a woman-owned business was a signifcant

challenge(40% compared to 25% amog all other WBEs).

Woig wit bas Latias were more liel toeel the were treated with respect when applying or a loan

(62% compared to 41% amog all other WBEs). I addi-

tio, the were more liel to want inormation about howto get loans/lines o credit rom outside organizations (25%

compared to 12% amog all other WBEs). These compaies

were also more liel to have used banks rather than other

sources to secure fnancing or their companies (26% com-

pared to 14% amog all other WBEs).

the Future

Optimistic Latias were sigifcatl more optimisticabout their compaies utures - 72% aticipate their com-

panys fnancial situation will improve compared to 55%

amog all other WBEs. The were also more liel to plan

on expanding over the next fve years (68% compared to

44% amog all other WBEs) and add employees in the next

two years (73% compared to 46% amog all other WBEs).

FirmagraphiCs/demographiCs

lage, loca, ad Fami Ceteed Diereces i compa frmagraphics icluded:

More employees Media o 5 emploees amog

Latia-owed busiesses compared to media o 3

emploees amog all other WBEs.

Higher annual revenues Media reveues o

$224k i 2011 amog Latias compared to

$143k amog all other WBEs.

More likely to only conduct business in Arizona

61% amog Latias compared to 48% amog all

other WBEs.

More likely to be amily owned 75% amog

Latias compared to 49% amog all other WBEs.

More likely to have inherited the business rom

another amily member 47% amog Latias

compared to 15% amog all other WBEs.

Biigua, ouge, moe fst/secodgeeatio Diereces i the compa owers i-cluded:

Bilingual 76% amog Latias compared 21%

amog all other WBEs.Younger age 52 ears old (average) amog

Latias compared 57 ears old amog all other

WBEs.

More frst and second generation among owners

49% amog Latias compared to 11% amog all

other WBEs.

l m m m wbe

m 14% . t mm m

l-o wbe.


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50 2013

STUDy BACkGROUnD AnD METHODOLOGy

what is the history Behind the study?

d. l o h 1990 j h r c

asu. i 2005, f s r pj (srp) m . t m

m m m m.

t m 2005 2007 h -h m wm-o .

Fm 2008 2011, asu srp f mm

m m - .

t p Mbda b c a h cm cmm m m j

2012 . t a m m . r m

.

t M-o .

why are the arizona hispaniC ChamBer oF CommerCe and phoenix mBda Business Center ConduCting this researCh?

t a h cm cmm p Mbda b c mm

m f, ; mm ;

M-o m. t wm-o -- m- -m . t m

a m m

m mm.

what Businesses partiCipated in the survey?

t a -m m. i m f

m m m f.

a 421 m wbe . t m +/- 4.8% 95%f . s m m m . r m wbe

c M/-M-o b5 m u.s. c.

t .

studY bAckgroundAnd metHodologY


53/60

512013


1 4

5 9

10 19

20

d /

unweightedperCent response

58%

19%

11%

10%


54/60

52 2013


who was interviewed For the survey?

t .i m , /c e of p.

where/how was the sample drawn For the study?

t m m sf t sm. t m m :

a h cm cmm

p Mbda b c

a M c am

what method was used to ConduCt the researCh?

i . t m :

s q .

i

when was the survey ConduCted?

t a 24, 2012, m o 22, 2012.

was an inCentive used to enCourage partiCipation?

r m 10 $100 f.

Cotact Us

F m m , m q q : [email protected].

study background and Methodology

o/Ceo/

a/

B b/c

o

perCent response*

86%

7%

6%

1%

position

* note: Some respodets listed more tha oe positio withi the compa.


55/60

532013

EnD nOTES

1 s r pj, 2007 srp a b s - F wm-o b, 2007.

2 i 1.

3 u s c b, e a s, t 2012 s a, t n

d b, 2012, ://.c./c/b/c/c/c_..

4 am n, u.s, c b, h im s 2010 2011, am

cmm s b, u s c b, sm 2012.

5 u s c, s a u.s. Fm i, g, e, r

u.s., s, M a, c, p, 2007 s b o,

://cf2.c./c/bc/j//c.?=sBo_2007_00Csa01&t=b.

end notes


56/60

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552013

nOTES

notes


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56 2013

nOTES

notes


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az2013, women-owned business enterprise report

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