2021 HETP Annual Report

2021 Hispanic Entrepreneurship Training Program (HETP) Confidential ANNUAL REPORT

OUR MISSION:

HETP GOALS:

The Statewide Hispanic Chamber of Commerce of New Jersey (SHCCNJ) HETP’s mission is to provide relevant, bilingual business education and mentorship services at no cost to participating business owners.

Our goal is to provide access, opportunity and meaningful mentorship/coaching AT NO COST to empower these small business owners with the required skill set necessary to become successful:

Whether refining already-launched ideas into sustainable business platforms, assisting existing small businesses with tangible scaling strategies and access to funding opportunities, or providing narratives with real-world application, New Jersey’s over 120,000 Hispanic-owned businesses, who contribute an aggregated $20 billion to the economy each year, need an appropriate support system to flourish.

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GOAL #1:

GOAL #2:

Access to knowledge and tools

Access to capital and credit

GOAL #3:

GOAL #4:

Access to networks

Access to new markets and opportunities

Ultimately, HETP seeks to provide Hispanic-owned businesses the resources to become viable assets in the communities that they serve.

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MISSION The Statewide Hispanic Chamber of Commerce of New Jersey (SHCCNJ) HETP's mission is to provide culturally and linguistically appropriate business education and mentorship services for free to Hispanic small business owners and aspiring entrepreneurs.

HISTORY OF HETP HETP was founded in 2014 to develop ideas into sustainable business platforms, assist existing small businesses with tangible scaling strategies, and provide narratives with real-world application.

Government Sponsors & Partners

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2021 GRADUATING CLASS STATISTICS

“

THE ONLY WAY to strengthen the Hispanic Familia in the State of New Jersey is together. We need YOU, and we count on YOU to continue our work.

% 16 8% 3 2 2% 1 5

- Carlos A. Medina, SHCCNJ President/CEO

”

APPLICATIONS INCREASED 512% IN 7 YEARS.

238% INCREASE IN CLASS SIZE IN 6 YEARS.

16% CLASS GROWTH FROM 2020 TO 2021.

61.7%

38.3%

50 Businesses Graduated

98%

Graduation Rate

FEMALE

9 1 HETP - 2021

MALE

COUNTIES IN NEW JERSEY REPRESENTED

STUDENT FROM NEW YORK

72% of students were foreign born

15 Countries Represented

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CLASS COMPOSITION BY COUNTRY OF ORIGIN:

DEMOGRAPHICS BY BIRTHPLACE - HETP 2021 12 10 8 6 4 2 0

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US CITIZEN: 40 | OTHER: 20 | VETERANS: 2 | TOTAL: 60

CLASS COMPOSITION BY STATE AND COUNTY: County of Residence

DEMOGRAPHICS BY COUNTY - HETP 2021

Union, New Jersey: 13.3%

Bergen, New Jersey: 18.3%

Somerset, New Jersey: 5.0%

Passaic, New Jersey: 13.3%

Essex, New Jersey: 15.0%

New Haven, Connecticut: 1.7% Morris, New Jersey: 1.7% Monmouth, New Jersey: 1.7% Middlesex, New Jersey: 3.3% Kings, New York: 1.7%

Hudson, New Jersey: 25.0%

Bergen, New Jersey

11

Essex, New Jersey

9

Hudson, New Jersey

15

Kings, New York

1

Middlesex, New Jersey

2

Monmouth, New Jersey

1

Morris, New Jersey

1

New Haven, Connecticut

1

Passaic, New Jersey

8

Sommerset, New Jersey

3

Union, New Jersey

8

Total

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Participants

60

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2021 GRADUATING CLASS STATISTICS Class Composition by Business Type Restaurant and Food Restaurante y comidas

6

Cleaning Limpieza

3

Event planning Planeacion de eventos

2

Consumer Goods Bienes y Mercancias

3

Financial Services Servicios financieros

1

Construction Construccion

9

Health and Wellness Salud y Bienestar

5

Business Consulting Consulta de negocios

1

Marketing Mercadeo

1

Education Educación

2

Retail Venta minorista

1

Services Servicios

7

Technology Tecnología

4

Travel and Leisure Viajes y tiempo libre

2

Accounting and Taxes Contabilidad e impuestos

1

15

Other Otro

Because of Covid HETP supported students during the application process with the Small Business Administration (SBA), as well as with the New Jersey Economic Development Authority (NJEDA) and the Union County Economic Development Corporation (UCEDC) funding.

The Chamber also provided multiple online classes and panels with experts to help business owners understand funding options. As a result, 52% of HETP participants claimed they applied for some form of financial help.

0

4

30%

of the HETP graduates closed their businesses or went bankrupt

New businesses were registered by program participants

Hired new full-time, part time, and contract workers

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PARTNERSHIPS

15 SHCCNJ student businesses are signed up and using the platform.

Provided a series of webinars to all HETP/LETS participants.

Training on how to become a certified minority, women-owned business in the State of New Jersey.

Partnership with the US Business Association of E-Commerce Tool

The tool promotes businesses on different online marketplaces. It uses a multichannel commerce platform that helps all business owners or members of the ecosystem.

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2. Access to Capital: We supported our students during the application process towards SBA, as well as NJEDA and UCEDC funding. In addition, the Chamber provided multiple online classes to help business owners understand funding options, expert panels, and individual guidance.

We surveyed both HETP and LETS participants, and 45% of them claimed they had applied for some financial help. Participants were able to take charge of their finances and grow their business with the provided financial aid.

3. Delivery of real impact and monitoring of success stories.

We have been tracking and will continue to track and monitor individual progress and success stories via our Custom-Built Platform: Biz Journey.

This lean, automated system has replaced the manual tracking process implemented in 2018, which involved multiple files in multiple locations and the proliferation of emails and phone calls. This system will also allow us to continue to track students' success stories over time, such as sales increase and access to capital. During 2019 we tested and refined the system, which was developed by a women-owned, minority-owned company, towards its purchase and acquisition of perpetual usage rights in 2020.

We surveyed our participants as to what success stories they achieved since they started these programs. Among those surveyed, success stories in just the first six months of the program include: 35% of all surveyed hired new personnel, whether part-time, full time or contractors.

To note, not one business among the 87 (HETP and LETS) students that graduated has closed or gone bankrupt.

Other success stories include new products and services, a shift in business model operations, and targeting new market segments. Below are a few of our most recent success stories: HETP - 2021

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Natividad Martinez

Yanina Paz

Joe Ortiz

Universal Travel & Tax Services added new services to her business portfolio, increased revenue by 30%, and increased her clientele by over 30%.

Paz Music Center increased weekly student enrollment by 400%.

Joe Miguel Salon successfully launched Joe Miguel Academy.

Stylists travel from various states to participate in his program.

Moises Luque

Josenny Tineo

Devout Trucking is now a certified SBE business in the state of New Jersey. He attended an Amazon webinar and now has them as a client.

Moises has his NJMEP certification as well as servicing Maryland at the moment. Also, he was featured on Amigos de Univision and hired his first employee.

Josie Michelle Events added new services, including virtual event planning, online wedding consultation, and hiring a new team member.

Also, the Long Island Hispanic Chamber of Commerce recognized Josie Michelle Events as one of the premier small businesses on Long Island and awarded them a grant for $5,000.

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In partnership with the HETP/LETS participants, Natalia Osorio Quintero from CPC Global Agency, we hosted a Virtual Business Expo on Tuesday, July 20th, 2021.

One of the benefits of participating in either the HETP or LETS program is free to access to a digital booth at the event. Therefore, the Virtual Business Expo is an excellent opportunity for the HETP, and LETS participants to expose themselves nationally and internationally. Some statistics from the 2020 Virtual Business Expo: 10, 446 visitors, 11 average visits per booth, 290 regular visitors from 24 countries. This type of exposure is excellent for our HETP, and LETS participants to expand both networks and scale their businesses nationally and internationally.

4. Expand participants’ networks: Part of the networking opportunities amongst business owners used to happen in person, and COVID-19 represented a considerable challenge. However, our team pivoted quickly and in a very creative way, expanding Community Building exercises and adjusting them to an online platform, and allowing for time slots in most classes to assign participants to Zoom breakout rooms for additional connection and networking. This resulted in multiple opportunities for collaboration and contracts amongst participants and the broader community, including past HETP graduates.

Also, the Statewide Hispanic Chamber of Commerce of New Jersey had some of the participants' volunteer for networking events, including The Art of the Modern Latina, back in May of 2021. The networking event allowed participants to volunteer and assist with the event's logistics, including checking guests in, helping with sponsored swag bags, and ensuring vendors had everything they needed at their vendor tables. The access to the network allowed HETP/LETS participants to connect with guests for future opportunities either as a referral or lead source for their business.

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2021 Photos: Zoom Classes

Several of the HETP Graduates volunteered for The Art of the Modern Latina Event back in May of 2021.

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Students participated in site visits and interviews in major media outlets including ABC, WPIX, PBS, HCEDC Business Spotlight and La X 96.3 Radio.

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All graduates received a complimentary membership to the Chamber and exhibitor tables at different virtual events.

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Participants’

Additionally, here are some written testimonials about the impact of the programs: Every Friday, a lesson has been filled with knowledge with the best professors from the Chamber of commerce each had the ingredients we need to succeed in our business - Yanina Paz I have grown in this phase without even thinking about it by adding six new team members, increasing 50% in our revenue income even with COVID and it's all coming from the work and coaching that I have gotten from here - Fadja Robert

Coming into the program, I knew I needed change, but I could not relate to many people in the room. But from these classes, the change that came was a strong pivot, and this course helps me understand that there is the purpose and a plan to continue to work and give back to the Hispanic community.

- Iraida Michelle Arvelo The organization and scheduling are excellent.

The group coaching demonstration throughout the training session clarified many things regarding my business.

- Yolanda Ramos

HETP 2021 – Graduation video: https://www.youtube.com/watch?v=b2gnBsbq7ug HETP - 2021

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2021 PITCH COMPETITION

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PITCH # 1 Andres Fernandez Akesa

PITCH # 2 Fadja Robert Elevate O2

PITCH # 3 Fernando Garcia Creavista, Inc.

PITCH # 4 Hector Perez Latin American Treasures

PITCH # 5 Marita Lynn My Kitchen Intuition

PITCH # 6 Sandra Rojas Don Ricky Colombian Bakery

PITCH # 7 Tennille Ortiz The Cupcake Carriage

PITCH # 8

Yanina Paz Paz Music Academy of Kearny

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Pitch Competition Sponsors

BORJA CONSULTING GROUP

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2021 PITCH COMPETITION

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SHCCNJ Team

Pitch Competition Judges

Sara Peña

Michelle Richardson

Director CHPRD

Executive Director HCEDC

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Marcela Gomez

Multicultural Marketing Communications Expert Culture Shift Team

Jeff Martinez

Executive Vice President PNC Bank

Tom Bergeron

Mike Santos

Claudia Dulac

Editor (and founder/owner) ROI-NJ

Partner & Branch Manager MLB Mortgage

SVP New Jersey Market Executive Bank of America

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PROGRAM GROWTH OVER TIME: CLASS OF 2015

CLASS OF 2021

We Appreciate Your

Supp�t And Partnership For any questions, please contact:

Carlos Medina

Dr. Jairo Borja, DBA

President and CEO medinac@robinsonaerial.com

Director of Grants & Entrepreneurship jborja@shccnj.org