The Floridant - SCORE Supports Hispanic Entrepreneurs With Free Mentoring Services

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WASHINGTON, Sept. 10, 2024 ~ According to the U.S. Small Business Administration (SBA), Hispanic-owned businesses employ over 2.9 million Americans, making them a crucial component of the country's economy. As Hispanic Heritage Month kicks off on September 15, SCORE, a resource partner of the SBA, is encouraging Hispanic entrepreneurs to seek out mentoring and resources to help grow their small businesses.

One such success story is that of Chris Rourk, owner of VOLTA ion, a manufacturing company based in Miami, Florida. Rourk worked with a SCORE mentor to launch his business and credits their guidance for his success.

"SCORE played a pivotal role in VOLTA ion's journey," Rourk stated. "My SCORE mentor, Mark, guided me through rewriting our business plan during COVID, liaising with banks to secure our first loan, and providing invaluable advice through their extensive network of experts."

Unfortunately, statistics show that 20% of businesses fail within their first year and 50% within their first five years. However, working with an experienced business mentor can greatly increase the chances of success. In fact, entrepreneurs who receive three or more hours of mentoring report higher revenues and increased business growth.

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To further support Hispanic entrepreneurs, SCORE will be hosting a free webinar on September 25 titled "Loans, Grants and Other Funding Options for Hispanic-Owned Businesses." This webinar will provide information on financing options available to Hispanic entrepreneurs and how to determine which option is best for their specific business needs.

SCORE also offers additional resources for Hispanic entrepreneurs on their website's "Resources for Hispanic Entrepreneurs" hub.

SCORE mentors volunteer their time and expertise to support entrepreneurs at any stage of their business journey. Yorkenia Gomez, a SCORE mentor herself, understands the challenges that come with running a business and finds it rewarding to help others succeed.

"Helping small business owners navigate challenges and grow their businesses is incredibly rewarding," Gomez shared. "Especially when I see the impact it has on their families and neighborhoods. Working with clients who may face language barriers or cultural differences is particularly meaningful to me, as I can offer support that resonates with their unique experiences and challenges."

For those looking for a mentor for their small business, SCORE offers a mentor request service on their website. With the support of experienced mentors, Hispanic entrepreneurs can overcome obstacles and achieve their dreams of business ownership.

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