WASHINGTON, May 16, 2013 (GLOBE NEWSWIRE) -- United States Hispanic Chamber of Commerce (USHCC) President & CEO Javier Palomarez submitted written testimony to the U.S. Senate Committee on Small Business & Entrepreneurship as part of the hearing, "Strengthening the Entrepreneurial Ecosystem for Minority Women." The testimony, to be logged in the official Congressional Record, focuses on the growing influence and economic contributions of Latina entrepreneurs.
"The growth of Hispanic-owned business is one of the most remarkable stories of entrepreneurship in the history of our country, and the growth of Hispanic women-owned businesses is especially noteworthy," Palomarez stated in his testimony. "According to a 2012 analysis by the National Women's Business Council, there are 787,914 Hispanic women-owned businesses in the United States. This reflects a tremendous 45.7% increase in number since 2002 and a 133.3% increase since 1997."
The USHCC also applauded Senator Mary Landrieu, Chair of the Committee, for bringing attention to the importance of minority women-owned firms to the country's small business community and their tremendous impact on the larger American economy.
"As a business owner and job creator, I am pleased to see the issue of minority women entrepreneurship take center stage in Congress. By affording the USHCC the opportunity to submit testimony, Senator Landrieu has shown she understands the remarkable strides being made by the Hispanic business community and that she is prioritizing the future growth for this valuable group that is greatly contributing to our nation's economy," said Founder and CEO of Pinnacle Technical Resources and USHCC Chairman Emeritus, Nina Vaca.
"We look forward to working with the committee in the future on common-sense bills that relieve regulatory burdens on minority businesses and facilitate economic growth," added Palomarez.
The initial hearing featured testimonies by strong allies to America's Hispanic business community including Marie Johns, Deputy Administrator of the U.S. Small Business Administration; Alejandra Castillo, National Deputy Director of the National Business Development Agency; and Eva Longoria, founder of the Eva Longoria Foundation.
About the USHCC
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 across the United States that together contribute in excess of $465 billion to the American economy each year. It also serves as the umbrella organization for more than 200 local Hispanic chambers and business associations in the United States and Puerto Rico. Follow us on Twitter @USHCC.