Santa Clarita businesses gathered Friday at the University Center at College of the Canyons, to learn about the expanding Latino business market.
“Hablando de Negocios,” or “Talking Business,” featured presentations from SCV Latino leaders, folk dances, trivia questions and statistics about the increment of the Latino community.
The event was hosted by Bill Miranda, CEO SCV Latino Chamber of Commerce and author of the inspirational biographical self-help book “Profiles in Latino Courage.”
“Businesses need to engage more with the Latino community and understand that the Latino culture is relationship driven,” Miranda said. “The Latino community has a huge market and buying power.”
Miranda revealed market research showed the Latino population has a growth potential of 167 percent over the next fourty years.
Among the guests at the event was Board of Trustees member Bruce Fortine.
“The potential for the Latino market is incredible in the United States. It is a sleeping giant,” Fortine said. “Companies in Santa Clarita have not thought about the potential of the Latino market.”
Miranda explained the Latino community is the largest of those who immigrate to the United States to remain culturally rooted in original customs and tradition. The majority of Latinos remain bilingual.
Patsy Ayala the Corporate Relations Director from “Our Valleys” magazine was also a speaker at the event. Ayala came from COC’s Student Business Development center program.
“The purpose of the event was to present businesses how the Latino community negotiates, how they are and how the feel,” Ayala said. “The event helped present the Latino market to local businesses who do not have the time to investigate the Latino market.”
Latino buying power has doubled every ten years from $212 billion in 1990 to $490 billion in 2000 and it is now $1.39 billion in 2013.