|Tuesday, August 5, 2008 • Volume 4, Issue #305||Home||Research||Magazine||Contact Us|
|Top Stories||Complimentary Hispanic Business subscription|
Venezuelan President Hugo Chavez is set to take over the country's third largest bank, Banco de Venezuela, which is owned by the Spanish bank Banco Santander.
Troubled US carmakers General Motors (GM) and Ford are considering cooperating on the development of new engines and powertrains, the Detroit News reported Monday.
When prospective entrepreneurs ask small-business consultant John Maynard whether they should develop a Web site for their planned enterprises, Maynard responds with a question of his own. "When ... they ask me that, I (ask) them if they would consider operating a business without a telephone," said Maynard, who serves as the director of program development with the Small Business Development Center in Athens. In this day and age, many find a business without a Web site to be unfathomable.
The number of Hispanic-owned businesses in the United States is expected to grow 41.8 percent in the next six years to 4.3 million, with total revenues surging 39 percent to more than $539 billion, according to new estimates by HispanTelligence. Spurred by growing entrepreneurial trends and affluence among the nation's largest minority population, the increase is expected to come at a robust rate of 8.5 and 8.7 percent, respectfully, over the next couple years.
For more than two decades, the annual Hispanic Business 500 directory has served as a barometer of the U.S. Hispanic economy. A purchase of the 2007 directory provides the top 500 Hispanic-owned companies list in Excel format including: CEO names; company addresses and telephone numbers; e-mail addresses for 375 companies and Web addresses for 430 companies; and company revenue and employees numbers for 2005 and 2006.
|From the current issue of Hispanic Business magazine...|
Microsoft's vendor diversity program is catapulting to the head of the corporate class. Next year, Microsoft expects to crack the $1 billion mark in spending with minority- and female-owned businesses, up from $833 million in 2007. Kelly Chapman, Microsoft's director of diversity recruiting, has seen the company make great strides.
Tourism will contribute a stunning $5.5 trillion to the global coffers in 2008, according to the World Travel and Tourism Council, and that number will likely increase as developing countries open new travel destinations. Leading the way in these new vacation opportunities is a bold, new initiative: ecotourism. The concept behind this rapidly growing industry is that profits generated by tourism can be used to sustain the local culture and environment--and the vacation should incorporate an appreciation for the local ecosystem.
Even at a time of economic upheaval in the United States, the Top 50 Hispanic-owned export companies proved last year that domestic goods can sell in the global marketplace. Thirty-two companies on this year's list reported double-digit gains in export revenues. Leading the growth were companies like Compasa LLC, which saw revenues jump to $53.5 million in 2007, a whopping 235 percent increase over the prior year. The McAllen, Texas-based meat and grain exporter enjoyed the fastest growth of any company on the list.
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