 "Photo: The Pan American")
In a world where ideas drive economies, it is no wonder that innovation and entrepreneurship are often seen as inseparable factors. And the university is doing its part to help local businesspeople take ideas into action.
Latina HOPE is a micro-entrepreneurial program formulated in November 2009. It began as a cooperative effort among various entities such as the McAllen Chamber of Commerce, United Way, Wells Fargo Bank, and the UTPA Small Business Development Center (SBDC), in the quest to increase the success rate of micro-entrepreneurs in Hidalgo County.
Micro-enterprise is a type of small-scale industry/enterprise wherein the value of a fixed asset is less than $10,000 and number of employees is limited to 10. The entrepreneur is mainly interested in a short-term exploitation of an opportunity for quick implementation of a project based on innovative ideas.
Each entity involved in the program has different responsibilities; however, the business training and counseling, information on registration licensing and permits, and the business planning components of this program are all provided by the UTPA Small Business Development Center.
Wells Fargo provides the grants and submits business plans. The United Way helps the participants with individual and target marketing while also coordinating funding. The McAllen Chamber provides other resources needed for trainings.
“This program allows individuals in starting their businesses while also helping the community and economy in the long run,” said Juanita Caballero, business development adviser for the SBDC, whose latest training sessions start next week in the Tri-Cities area.
The program is tailored for women in underserved areas who want to start their own businesses or already have a home-based business and need further information to run a successful, formal enterprise, the program coordinator noted.
The effort aims to improve the participants’ quality of life by increasing business success rates, in the hope that profits will augment their family incomes and positively affect the quality of life.
Latina HOPE is aimed at entrepreneurial individuals 18 years and older with no fee to participate.
Participants must complete a series of trainings and develop a business plan. All are encouraged to take advantage of assistance from SBDC advisers and invited to attend the many supplementary trainings offered through the center. Business plans are reviewed for approval and possible funding, and eventually the qualifying candidates can apply for a grant of from $200 through $500 from Wells Fargo.
“The participants and business plans that may require more, based on its merits, will undergo a more step-by-step process for any sum larger than $500,” Caballero said.
The candidates’ businesses, along with their willingness and discipline to work out achievable business plans, will be scrutinized during this review. The process is meant to increase the chances of success by measuring abilities to focus and hash out a solid plan for their businesses.
Trainings are set to begin with a 2-hour session on Tuesday, March 9 at the Arise-Muniz in Edinburg. The second session is scheduled for the next day at the Arise Support Center in Alamo with the final session set for March 11 at the Arise-Las Milpas in Pharr. The second part of the training sessions will occur March 23-25 at the same locations.
“Our services are made continually available to participants and enhanced through the regular SBDC program as they progress in their businesses and beyond their participation in Latina HOPE,” Caballero said.
For upcoming events and further information, contact Juanita Caballero at 956-292-7548 or e-mail at jcaballero3@utpa.edu.
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