What is the Hispanic-Owned Business Enterprise (HOBE) Certificaion
As an economically disadvantaged segment of the U.S., Hispanic business owners can take advantage of several helpful resources that help with the growth and promotion of their business within Corporate America. To see how these resources can aid you and your business, read through the resources included below.
Hispanic business owners may be eligible for the Minority Business Enterprise (MBE) certification. With this certification, you have increased access to contracts from large corporations. These companies are required to maintain a specific level of MBE spending before they can win government contracts, so an MBE certification can revolutionize your corporate work and relationships. As a minority that is considered ‘disadvantaged’ by the U.S., certifying your business can help you rise above your competition.
Diversity is an important part of any supply chain. The ConnXus Database creates an easy way for large corporations to connect with diverse-certified businesses for services and products. By joining this database, you can substantially increase your chances of connecting with a Fortune 2000 company for large contracts. Each connection increases the size and stability of a diverse global supply chain, so utilize this resource for the betterment of your business, industry, and community.
United States Hispanic Chamber of Commerce (USHCC)
The USHCC connects Hispanic business owners with corporations and local chambers of commerce throughout the U.S. With over 4.2 million Hispanic-owned businesses in the country, this organization serves as a bridge between small businesses and large corporations looking to diversify their supply chain. With your USHCC membership, you have access to national conventions, exclusive events, advocacy resources, matchmaking events, and a large network of Hispanic business owners and corporations. By making connections with both your local and national chambers of commerce, you can gain numerous resources and connections to improve your business.
Latin Business Association (LBA)
The LBA is a private non-profit organization that advocates for better business opportunities for Hispanic business owners through the U.S. The LBA strives to educate Hispanic business owners through business networking, legal assistance, business growth programs, exclusive events, and written resources. Depending on the size of your business, this resource requires an annual fee of $250-2,500.
National Hispanic Business Group (NHBG)
The NHBG is a network of Hispanic business leaders and owners that advocates for better business opportunities for its members. This organization offers a community of business owners that offer mentorship and support within the network. Members can access regular meetings, networking events, open community communication, resources and exclusive organization-held events.
National Minority Supplier Development Council (NMSDC)
Though the NMSDC is not exclusively a Hispanic-focused group, this resource offers assistance to all MBE-certified businesses. The NMSDC network was created to offer support to MBE-certified businesses as they grow into corporate supply chains. As an advocate for better business opportunities, this organization offers networking opportunities, programs, special events, educational resources, and information about the MBE certification.
U.S. Small Business Administration (SBA)
The SBA offers a wide variety of resources and assistance for small business owners across America. Though the SBA is not focused exclusively on Hispanic business owners, it does offer resources that are specifically geared to this audience. Business owners can visit local District Offices or Small Business Development Centers for in-person resources and training. This free or low-cost training, advice, workshops, education, and counseling can be a priceless resource for any business owner.
Minority Business Development Agency (MBDA)
As an agency of the U.S. Department of Commerce, the MBDA promotes minority-owned business growth through programs, policies, and research. This includes advocating for these businesses with policy makers, business leaders, and elected officials. Through their work, they connect minority-owned businesses with larger contracts and markets to encourage the growth of a diverse supply chain.