The Hispanic Chamber of Commerce of Montgomery County (HCCMC), as business-oriented organization, works closely with the HBFMD to promote the growth of local minority businesses through collaborative individual counseling, webinars and topic-specific seminars.
Currently, HCCMC are focusing in re-launching the “Business Success Training Center” (BSTC), formerly known as the Mario Loiederman Training Center, with the purpose of strengthen the business community in Montgomery County. The mission of the BSTC is aligned with the County Executive priority: “Better nurture the entrepreneurial culture by introducing programs such as MC Square and Montgomery Moving Forward Workforce Coalition in Montgomery County”.
The Chamber aims to direct particular attention to the needs of the minority small business community that struggles with gaining a proper foothold to provide significant gainful employment to County residents. Small businesses with 5 to 30 employees typically under $3 Million in revenue and in operation over 2 years are unstable. The proper infrastructural support, and access to capital can help businesses to stabilize and become self-sustainable. Much of the growth within the small business community depends on branding support, legal assistance, and a robust management team.
Small business owners at this stage have achieved some level of success at having a business presence and transact enough business to gain revenues of over $200,000. Businesses are the engine for job creation in the County. The challenge is to direct business entities to funding opportunities and the right markets. The Chamber has as part of its mission to provide strategic assistance to Hispanic and other minority owned small businesses for enhancing sustainability and market growth. .
The program is aimed at those small businesses that have not reached a point of stability and for whom the cash flow and technical expertise is insufficient to develop the needed internal structures that would be inductive to become financially viable and a dependable employer.
The program focus on, Business management education, Facilitation of strategic partnerships, Affordable legal counseling and services, Financial literacy and access to capital, Business development and marketing support.