The basics:

• SHCCNJ hosted Feria de Negocios July 17 in Edison
• 1,500+ attendees joined the largest Latino business expo in the Northeast
• Gubernatorial candidates, legislators addressed small business issues
• Top concerns: access to capital, new markets, networks and the digital gap

The Statewide Hispanic Chamber of Commerce of New Jersey held its annual Feria de Negocios July 17 at Pine Manor in Edison.

The event is the state’s largest Latino small business expo – as well as the largest such business expo in the Northeast.

The gathering brings together more than 1,500 attendees, including business owners, entrepreneurs, community leaders, vendors and more. Feria de Negocios offers attendees the chance to share their businesses, products and services. It also allows for robust networking opportunities, along with the chance to hear from elected leaders — as well as the gubernatorial candidates (more on that in a second).

A seat at the table

“It’s really a pleasure to be able to host this type of event,” said SHCCNJ President and CEO Carlos Medina. “The elected officials that are here, we’re grateful for your presence. We’re grateful that you recognize the great things that the Hispanic business community do for the State of New Jersey.”

Medina noted, “A recent study from the Latino Donor Collaborative said that the GDP [gross domestic product] of Hispanics living in New Jersey is $100 billion annually. And nationally that number is approaching $1 trillion, which would make Hispanics living in the United States the fifth-largest economy in the world.”

He continued, “So, we’re doing great things. We only ask for a seat at the table. So, I know the candidates that are here that will be speaking – we know them. We’ve dealt with them. And I’m pretty confident that when they are sworn in, that we’re going to be one of the first calls. Because we want to hit the ground running, roll up our sleeves, and keep this economy going . And supercharge it with the Hispanic population, which is growing; and the business population, which is growing – and adding gasoline to this economy.”

‘A big familia’

In his remarks, SHCCNJ Chairman of the Board of Directors Luis De La Hoz noted this was the 14th anniversary of this expo.

“I changed my speech because Carlos just took all my data,” De La Hoz joked.

He highlighted a focus on the four biggest challenges Hispanic small business owners face: access to capital, access to new markets, access to networks and the digital gap.

“We focus on those subjects; we have multiple problems, but usually those are the ones that hold attention and start the conversation for us,” he said. “We are 2.5 million Latinos in this state, we come from 17 different countries. And we are 140,000 Latino small business owners. Entrepreneurship is the best way that we have to overcome poverty. And we have five times more chances to save money if we start a business than if we find a job.

“That’s why this makes a big difference for us,” said De La Hoz. He noted that Latinas start businesses six times faster than any other ethnic group. “But the most important thing is that we are a big familia. That we support each other. And the other thing that we tried since we became the largest chamber based on membership – is we try to mentor our peers.”

Learning from one other

He said that includes inviting other chambers, such as the Pride Chamber and Punjabi Chamber and Veterans Chamber and others. De La Hoz also noted the time and journey it took SHCCNJ to build to this point.

“If people are able to save half of the time or half of the money, or half of the energy that we spent, I think that the State of New Jersey – being the most diverse in the entire country – will be a better state to live,” said De La Hoz.

Sherrill: two places at once

Due to a vote in Washington, D.C., on a key rescissions bill moving through Congress, Rep. Mikie Sherrill, D-11th District, was unable to attend as previously scheduled.

Sherrill did send in video remarks that played at the event.

“You know that as governor, I’m going to make sure you have a seat at the table,” said Sherrill. The congresswoman noted her pledge to address issues such as the state’s disparity study; public contracting/procurement; and supporting small businesses in areas like easing permitting and regulations, and more. “In fact, I spoke to a woman who had the menus printed; had the restaurant ready to go; and was just waiting to open the doors, because of slow permitting.

“And all the while, bleeding money as she tried to do so. So, it’s really important that we make New Jersey the best place possible for our businesses to thrive. I really applaud what all of you are doing in coming together to continue to work hard to do that. And you will have a governor, in me, that is really focused on this effort. Thanks so much.”

[I]t’s really important that we make New Jersey the best place possible for our businesses to thrive.
– Rep. Mikie Sherrill, Democratic gubernatorial candidate

‘Powerful’ caucus

Two Democratic leaders also gave remarks: Assembly Speaker Craig Coughlin, D-19th District, and Senate Majority Leader Teresa Ruiz, D-29th District. Each shared their perspective on the SHCCNJ’s work — and passed on some of Sherrill’s message in absentia.

“I think that New Jersey is a really special place. I’m 100% biased in that regard. I’m an unrepentant cheerleader for the State of New Jersey. And I think one of the things that is the best and one of our greatest strengths is our diversity. And that’s why it’s so heartwarming to see such an exciting group – and such incredible growth,” said Coughlin.

He thanked Medina and De La Hoz for their leadership in growing the SHCCNJ organization and the resulting Latino business community.

“I wanted to be sure that I made my way to come here today to just say hello – even it was just for five minutes – to connect and to express to all of you that we hear you. We are present on your behalf,” said Ruiz. “That we have a Latino caucus that is powerful; that is present; that represents so many of you. And that with discussions and decisions and policies being framed or made at the State House, you can feel warranted that your expectations, your visions, your requests – that our level of advocacy will create that kind of connection between state and all of your Main Street businesses.”

Ciattarelli takes the stage

Feria de Negocios’s original format called for each gubernatorial candidate to have about 30 minutes to offer remarks, take questions from moderator and BINJE founder Tom Bergeron, and from the audience.

While Sherrill’s (Democrat) segment pivoted because of the D.C. vote, Jack Ciattarelli‘s (Republican) appearance went on as scheduled.

“It is great to be back with you. It’s not the first time – nor will it be the last time,” said Ciattarelli. “If we were to partition new business formation across New Jersey by ethnic group, more new businesses are formed in this state by the Hispanic New Jerseyans that call New Jersey home. And I thank you for doing that. For all it is that you do to contribute to our state economy.”

Ciattarelli said that one of his primary objectives as governor would be to make sure New Jersey is no longer one of the worst places in the country to do business.

“I refuse to be that governor,” he stressed, noting that he would be a hands-on CEO in the role. “This can change by changing our tax structure and our regulations. I believe that we can do both of those things without screwing the consumer or doing irreparable harm to the environment.”

Plans for growth

The Republican nominee for governor laid out his vision, his priorities, and why he wants the job. Additionally, he shared his family’s journey in New Jersey; including his own experience as a small business owner and CPA.

Ciattarelli said that the only way to save New Jersey is to grow the economy.

“And the way to grow our economy is make this a better place to do business, particularly for entrepreneurs and small businesses,” said Ciattarelli. He noted plans such as bringing back a commerce department and energy department. The candidate also suggested exempting the first $100,000 of payroll from employer payroll taxes and not taxing the gain of sale of an entrepreneur, sole proprietorship or family-owned business.

And the way to grow our economy is make this a better place to do business, particularly for entrepreneurs and small businesses.
– Jack Ciattarelli, Republican gubernatorial candidate

Access to capital

Ciattarelli also spoke about the public contracting disparity study.

“There was a disparity study in the state that showed that minority-owned businesses are not getting their fair share of state contracts,” said Ciattarelli. “That’s not right. And the reason why that set-aside is so very important is we know that minorities, many times, are disadvantaged in some ways.

“There’s a thing called the Commercial Lending Act that says a certain number of loans are supposed to be lent in the minority community. And we’re not seeing that fulfilled as best I think we could. I think we need to form a better partnership with our bank community to make sure that minority-owned businesses do have access to capital.

“Also with that disparity study, we want to make sure the set-asides are being fulfilled. And I will take care of that on day one by executive order. And that is not to say that I don’t respect the legislative process.”

Ciattarelli said that an executive order can change New Jersey’s procurement process to make it easier for minority-owned businesses to get their fair share of state contracts. He criticized Gov. Phil Murphy, who he says could change the procurement process today.

“If you speak to any minority-owned business that does business in both New York and New Jersey, they will tell you that the procurement process in New York is much better, much fairer than it is in New Jersey,” said Ciattarelli. “We can fix that today with a new procurement process.”

Putting NJ first

Ciattarelli also spoke about not playing second-fiddle to New York or any other state. He referenced the World Cup, among other issues.

“New Jersey should be first in all matters in opportunities such as this – and we will be,” said Ciattarelli. “As governor, I’ll make sure that the northern part of our state does not feel as though it’s in the shadow of New York. The southern part of our state does not feel as though it’s in the shadow of Philadelphia. We aren’t going to conduct ourselves like the JV – we are the varsity dammit.”