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Stony Brook University Small Business Development Center to Assist in Hispanic Business Growth

STONY BROOK, NY, September 7, 2011 – The Stony Brook University Small Business Development Center (SBDC) has opened a new office for Hispanic business owners designed to assist Spanish-speaking entrepreneurs succeed with start-up and existing businesses in New York State.

The Stony Brook SBDC has been proactively working on a program titled “The Hispanic Initiative,” under the umbrella of the Organization of Latino Entrepreneurs (Olé). The initiative is a multi-entity effort to better serve the growing Hispanic business community, sponsored by the U.S. Small Business Administration, the SBDC and the private sector.

As noted by the Minority Business Development Agency of the U.S. Department of Commerce, the Hispanic-owned small business sector has been noticeably underserved, showing business informality, lack of training and low-employment power. According to the 2007 U.S. Census Bureau’s Survey of Business Owners, Hispanic-owned businesses make up 8.3% of total businesses nationwide; a growth rate of 44% since 2002 and a sales receipt increase of 56% for the same time period. 

The program is free and includes several customized services aimed to fit culturally and functionally, assuring a relevant service. “The ultimate goal is assimilation,” said Gloria Glowacki, Associate Director of the Stony Brook SBDC. 

A staff of Certified Business Advisors with extensive private experience and formal training in critical business sciences are providing support for the new program. As a client of the SBDC, entrepreneurs will receive a Certificate of Accomplishment once they have completed a series of workshops in “best business practices” tailored to their specific needs. Several satellite locations will serve the community in their area of proximity.

For free counseling please call the Stony Brook SBDC (Spanish) at (631) 632-3252 and (English) at (631) 632-9837. For more information about the SBDC to www.stonybrook.edu/sbdc.

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