There are more than 300,000 small businesses in Connecticut. And according to the U.S. Small Business Administration, those businesses have approximately 720,000 employees. With Latinos accounting for 15 percent of the state’s population, it’s not surprising that Latino-owned small businesses are an important part of the Constitution State’s economy. But as Latino businesses in the state grow, they need support. That’s why Hispanic Federation has partnered with Prudential to create the Connecticut Latino Financial Freedom Initiative (LFFI). The LFFI gives Latino business owners in the state training on expanding market reach, improving sales, and how to upgrade services.
LFFI includes an innovative, interchangeable series of Financial Freedom events available to small business community members in three settings: workshops focused on business growth strategies, an informational, motivational and fun sketch comedy piece, and a business networking breakfast. LFFI is designed to provide financial literacy education in a social setting with direct access to financial professionals.
“It takes more than just hard work to have a successful small business,” said Hispanic Federation’s Connecticut State Director Ingrid Alvarez. “Entrepreneurs often have the drive, the ideas, and the ambition to succeed but need help understanding finance, management and marketing. LFFI provides business owners with real-world, practical training to improve their businesses.”
As part of LFFI, Hispanic Federation will partner with a member agency such as the Spanish American Merchant’s Association (SAMA) to target Latino entrepreneurs and craft training sessions that will include: assessing one’s business and personal financial health, credit and debt management, financing your business’ growth, and low cost marketing tactics. For more information on LFFI, please contact Ingrid Alvarez.
