Economic Development Committee

Committee co-chairs: Maria D. Cabrera and Nancy Bastidas-Lopez

The Economic Development Committee (EDC) has been focusing on the issue of financial literacy and access to information for small business owners.

The financial literacy focus has been on two levels-micro (financial literacy for individual citizens) and mezzo (professional/educational development for Hispanic small business owners). The objective is to identify and enhance existing financial literacy programs to increase impact on Hispanic business owner community.

• GACHA EDC will "co-sponsor" presentations in all three counties by working with an already established financial institution/agency that is Hispanic-friendly. We will contact the appropriate program, secure a building/location for the presentation to be given, and advertise the event in the Hispanic community.
• GACHA EDC will work with these established programs on audience development, and ensure these programs are also made available in Spanish as a whole or with use of a translator Important factors in deciding what is the most appropriate program include:
  • The program has educational material already.
  • The material is available in Spanish-language format.
  • The program has the ability to be culturally competent(for example, the presentation can be given in Spanish).
  • The program should discuss obtaining and managing money, savings, investments, and the nature of credit.
  • Home buying education has been added as an objective with the focus on Sussex County for this workshop.

The Hispanic Small Business Development objectives is to identify programs that offer resources to entrepreneurs who want to start a business and to already established businesses. The committee participated in the MegaBiz Fest conference October 19-20, 2006 and the Money School event, From Purses to Portfolios, October 2006. The committee also participated in a series of home ownership workshops held in August 2006.