Virtual Ribbon Cut on Website to Empower Latino Entrepreneurs

Business Wire,  April 10, 2008  

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CEO of Western Union Joins Business Leaders at Dallas Launch of National Hispanic Business Information Clearinghouse

DALLAS -- A new, online resource to help Hispanic entrepreneurs overcome such historic barriers as access to capital, markets, management skills and technology launched today in Dallas, before an audience that included dozens of Dallas-area business leaders as well as Western Union President and Chief Executive Officer Christina A. Gold.

The National Hispanic Business Information Clearinghouse (NHBIC), located at www.nhbic.org, helps aspiring and current business owners navigate the legal, licensing, permitting, accounting, contracting, human resource, marketing and sales challenges associated with running a successful business.

"The American Dream provides Latinos and other minorities with the inspiration to start and build a business, but what has been lacking has been a source of sound fundamental advice on precisely how to get that done," said Salvador Gomez, president and CEO of Source One Management, Inc., and founder of the NHBIC. "The NHBIC was designed to be that source, and we expect it to have a tremendous impact on not only the Hispanic business community but also the U.S. small business landscape and the economy as a whole."

More than a static website, the NHBIC features professionally pre-screened and categorized business content, available for free in both Spanish and English and customized with resources specific to the greater Dallas area. The Dallas site is the second (following Denver, Colo.) of what will ultimately be 15 locally customized versions of the NHBIC nationwide.

"Furthermore, the NHBIC is also just the first in what will become a series of online portals designed specifically for ethnic audiences. Additional clearinghouses will be launched in coming years to serve African-American, Asian and possibly other communities," noted Michael L Barrera, president of the NHBIC and former president and CEO of the United States Hispanic Chamber of Commerce.

The presence of Ms. Gold at the launch event, a luncheon hosted by the Greater Dallas Hispanic Chamber of Commerce, reflected the role of Western Union as the primary corporate sponsor of the NHBIC program. The website's development has been funded primarily by Our World, Our Family, Western Union's $50 million, five-year initiative to empower communities around the world. It has also been supported by a $3.3 million grant from the U.S. Department of Labor.

"One of Western Union's cornerstone values is helping diverse individuals and communities around the world realize their potential and improve their futures through business innovation, job training, financial literacy and other practical but critical skills," said Ms. Gold. "The NHBIC serves this mission by helping to empower a population that has always had an entrepreneurial ethic but frequently lacked access to fundamental information, best practices and training."

About NHBIC

The National Hispanic Business Information Clearinghouse (BIC) provides critical business information on access to capital, equal access to markets, and management training to support the startup and growth of Hispanic businesses throughout the United States. For more information, visit www.nhbic.org.

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