HispanicBusiness

WASHINGTON, Oct. 10 /PRNewswire-USNewswire/ -- Hispanic owned businesses in Washington, DC are thriving and growing. According to a 2006 US Census Bureau report, the number of Hispanic owned business in the Washington and surrounding areas jumped 67% from 1997 to 2002, reaching a total of 32,412 businesses. Recognizing the contribution Hispanic businesses make to DC's booming economy, the Washington, DC Economic Partnership published the Spanish translation of Doing Business in Washington, DC.

The 96-page guidebook, available free to the public, covers the nuts and bolts of successfully starting a business or expanding one. Designed to help every type of business, the guide also includes numerous public and private resources filled with indispensable information on making the most of your business in the District. In publishing the Spanish translation of the guidebook, WDCEP hopes to continue to encourage and support entrepreneurship among the Hispanic community.

Hispanics in the US are opening businesses at a rate of three times the national average and more are attracted to DC because of the city's vibrant and fast growing economy. In fact, because of the enormous Federal government contracting opportunities in the city, the area has a larger number of Hispanic owned professional services companies compared to other cities. These companies provide services in high technology, legal, accounting, engineering and translation services.

"Diverse businesses of all sizes and cultures are fueling DC's economic boom, which is why it is critical for the government and its partners to create targeted programs that foster business development across all minority groups. The publication of the Spanish translation of the guidebook is an example of a program designed to assist Hispanic owned businesses in the District. Organizations, like the Washington, DC Economic Partnership and the Department of Small Local Business Development continue to deliver innovative resources and information that bring economic opportunities to all residents in the city," remarked Councilmember Kwame R. Brown, Chair of the Committee on Economic Development.

"We are committed to ensuring economic growth in every ward of the city. The Spanish translation version of Doing Business in Washington, DC removes language barriers, providing Hispanic entrepreneurs with the practical information they need to navigate the requirements of operating a business in DC," said Neil O. Albert, Deputy Mayor for Planning and Economic Development. "This book is a good example of the kinds of tools ware are providing with our partners to ensure the District is a City of Opportunity for all," added Albert.

The 2007 Doing Business in Washington, DC is divided into nine chapters covering everything from writing a business plan and defining ownership structure to business insurance and government contracting. It also has a chapter devoted to starting a non-profit in DC. Non-profits are the second largest employers in the District, totaling 44,078 employees.

Many existing businesses may not be aware of the financial benefits of operating a business in our city. For example, the District offers one of the most attractive incentive packages for high-tech businesses in the country. The New E-conomy Transformation Act of 2000 (NET 2000) provides certain credits, exemptions and other benefits for a Qualified High Technology Company (OHTC).

As with the English version of the guide, the Spanish translation will be available at all Business Resource Centers throughout the District of Columbia in addition to the Embassies of Spanish speaking countries. The press conference launching the release of the translated guidebook was sponsored by BB &T Corporation.

Published annually by WDCEP, this year's 2007 edition was made possible by generous contributions from the following organizations: Deputy Mayor's Office of Planning and Economic Development, BB &T Corporation, Citibank, District of Columbia Housing Finance Agency, Euclid Mortgage Services, Government of the District of Columbia Department of Insurance, Securities and Banking, District Department of the Environment, and BusinessPremier, an initiative of WDCEP.

The Washington, DC Economic Partnership is a public/private partnership with the mission of facilitating economic development by contributing to the business retention and attraction in the District of Columbia. The Partnership is your first point of contact for doing business in Washington, DC, offering a host of resources and information. Washington, DC Economic Partnership

Web site: http://www.wdcep.com/