THRIVE! Virtual Summit Prepares Latina Entrepreneurs for Economic Recovery in the Aftermath of COVID-19 Pandemic and Honors the Achievements of Latina Leaders

 

Photo Caption: Susana G. Baumann, President and CEO, Latinas in Business Inc., shared opening remarks at the virtual THRIVE! Imperatives Shaping the Future of Women Entrepreneurs Summit on June 10, 2021, an event that was co-hosted by Berkeley College. The Summit also included an in-person awards closing ceremony hosted at the Colleges NYC Campus. 

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Latinas in Business Inc. and Berkeley College gathered Latina business owners as well as leaders from all backgrounds for the third annual THRIVE! Imperatives Shaping the Future of Women Entrepreneurs Summit on Thursday, June 10, 2021. The afternoon virtual conference, attended by more than 125 guests from around the country, was packed with tools, insights and networking opportunities to help empower Latina entrepreneurs in the wake of COVID-19. The event culminated with an awards ceremony that recognized the achievements of prominent Latinas, including Wendy Garcia, Chief Diversity Officer (CDO), NYC Office of the Comptroller, who was honored as a Small Business Champion.

Overview of THRIVE! Summit
General sessions and deep-dive breakout workshops focused on topics of personal power, financial wellness and business innovation. Resilience, self-care, sustainability, digital transformation, finding funding and growing your network were at the forefront of discussions led by industry leaders.

“We have to work together to get out of the pandemic and recession. And we will because the power of collaboration has been our motto since our inception,” said Susana G. Baumann, President and CEO, Latinas in Business Inc., the lead organization that coordinated the Summit.

Berkeley College President Michael J. Smith gave opening remarks at the event and echoed Baumann’s sentiments. “Especially for many small business owners, 2020 was not a year where we all thrived,” he said. “It is so important that we ensure women entrepreneurs, Latina and other minority business owners, and all of our communities have the resources they need to get back on their feet and get back to thriving.”

Highlights from the event included an analysis of the impact of COVID-19 on Latina-owned enterprises, an emphasis on personal wellness as a strategy for recovery, and an in-person awards ceremony.

Pandemic Affects Latina-Owned Businesses
Latina-owned small businesses are the fastest growing segment across the country. Marlene Orozco, Lead Research Analyst, Stanford Latino Entrepreneurship Initiative, hosted a fireside chat at the Summit and noted that the number of Latinx business owners grew 34% in the last decade, compared to just 1% for all other demographic groups. According to Orozco, most of the growth was driven by Latinas.

While the full impact of COVID-19 has yet to be determined, limited external sources of capital is a major barrier to the success of Latina-owned enterprises, an inequity magnified by the recent global event.

“Pre-pandemic, and exacerbated by it, has been access to capital and financing challenges,” said Orozco.

A lack of technical assistance and limitations in digital literacy, especially in applying for federal COVID relief programs, restricted access to funds for Latinx communities.

“It’s important to provide businesses with (the digital) skills to sustain and grow overtime,” said keynote speaker Lucy Pinto, Program Manager, Grow with Google, a presenting sponsor of the Summit that facilitates digital coaching for minority-owned operations.

In spite of the apparent challenges to success, Orozco said Latinx entrepreneurs remain optimistic. “Over 80% indicated that they would likely recover,” said Orozco regarding data collected in a recent survey conducted by her department. “This sense of optimism and resiliency is really important in terms of continuing and moving forward.”

Keynote speaker Alice Rodriguez, Chairwoman, United States Hispanic Chamber of Commerce, said, “I am optimistic about the real economic power that Latinos have. We just all need to have the right ecosystem to harness that power of prosperity for everyone.”

Mental Health Awareness and Self-Care are Essential to Recovery
A unique emphasis of the THRIVE! event was its inclusion of mental health awareness and self-care as essential for economic recovery.

Photo Caption: (Left) Adel Wilson, CEO and Founder, Celebrity Media Group, served as a panelist in a deep-dive workshop about mental well-being at the virtual THRIVE! Imperatives Shaping the Future of Women Entrepreneurs Summit on June 10, 2021, an event that was co-hosted by Berkeley College. (Right) Pictured left to right are session moderator Angela Harrington, Berkeley College Vice President, Communications and External Relations, and panelists Melissa Baralt, PhD, Berkeley College Master Faculty, Math and Sciences, and Erica Sandoval, Co-Founder, Employee Network Allyance, and President, National Association of Social Workers, New York City Chapter, at the in-person awards ceremony held directly after the virtual conference at the Berkeley College New York City campus on June 10, 2021.

In a deep-dive workshop titled, “Taking Care of Your Inner Self: The Road to Resilience,” attended by approximately 30 participants and moderated by Angela Harrington, Berkeley College Vice President, Communications and External Relations, panelists discussed stress management and personal wellness as key elements of resilience.

“We’re after finding that harmony so that we can be our best selves,” said Harrington in introducing the purpose of the session. Panelists shared their own difficult journeys throughout COVID and gave advice on self-improvement practices.

“Many of us lost money, our jobs, loved ones, and spent a great deal of time alone (during the pandemic),” said panelist Erica Sandoval, Co-Founder, Employee Network Allyance, and President, National Association of Social Workers, New York City Chapter. “One of the misconceptions about resilience is that you must go at it alone … But we need to support each other and normalize what we’re going through and create community care,” she added.

Emphasizing the importance of human connection for her own peace of mind, panelist Adel Wilson, CEO and Founder, Celebrity Media Group, said, “I’ve been able to lean on my family … They are a pivotal part of how I’ve been able to move forward.”

With social distancing protocols and stay-at-home orders in place during the last year, there may be specific well-being impacts for Latinx communities that have largely been unacknowledged.

“There are certain cultural barriers that have really transcended and been transparent through this,” said panelist Melissa Baralt, PhD, Berkeley College Master Faculty, Math and Sciences. “Hispanic people love to hug and kiss. Social distancing slapped everybody in the face.”

The panelists noted a silver lining that arose out of changing global circumstances was how it forced many entrepreneurs to “pivot to something else, and from there build a better foundation for their business – maybe one that is more adaptable to our ‘new normal,’” said Wilson.

“Use these experiences as learning mechanisms to help you get to your highest level,” said Baralt.

Awards Ceremony Honors Latina Leaders
THRIVE! closed with an in-person awards ceremony that was also live-streamed to a virtual audience. The first on-site public event hosted at Berkeley College’s New York campus since the onset of the pandemic honored Wendy Garcia, Chief Diversity Officer (CDO), NYC Office of the Comptroller, as a “Small Business Champion.” Garcia, who has held the position of CDO for 8 years, said her role includes holding the city accountable and ensuring transparency in contractual agreements with vendors.

Photo Caption: The THRIVE! Imperatives Shaping the Future of Women Entrepreneurs Summit included an in-person awards ceremony hosted at the Berkeley College New York City campus on June 10, 2021. (Left) Pictured left to right are Susana G. Baumann, President and CEO, Latinas in Business Inc.; Rodneyse Bichotte Hermelyn, New York State Assemblywoman, 42^nd District; Angela Harrington, Berkeley College Vice President Communications and External Relations; and Michael J. Smith, Berkeley College President. (Right) Pictured left to right are Gbubemi Okotieuro, Berkeley College Vice President, Government Relations, NY; “Small Business Champion” Latina Award Recipient Wendy Garcia, Chief Diversity Officer, NYC Office of the Comptroller; and Michael J. Smith, Berkeley College President.

“When I first started, I was one of the few Chief Diversity Officers,” said Garcia, who noted the importance of the function in advocating for Latina-owned enterprises. “I hope for all of you that as you are growing in your businesses, you continue to have those people in government who will help you build wealth. Because when you hire people, you hire people of color, you hire other Latinas. And that’s the whole point.”

Approximately 40 guests attended the gathering on campus, including Rodneyse Bichotte Hermelyn, New York State Assemblywoman, 42^nd District, who provided a keynote address.

“It is my mission to create economic diversity in New York State. That means creating more opportunities for women and minority entrepreneurs. That means creating more opportunities for every person in this room tonight,” said Bichotte Hermelyn. “We should have a fair share in the economic pie.”

To watch a recap of the awards ceremony, visit: https://www.youtube.com/watch?v=lLoOe2Gp2BQ

Berkeley College celebrates its 90th anniversary in 2021. The theme commemorating this milestone is “Empowering Lives for 90 Years!” Visit the 90th Anniversary webpage for more information.

About Berkeley College
Berkeley College, founded in 1931, is a career-focused institution accredited by the Middle States Commission on Higher Education that offers students Master’s, Bachelor’s, and Associate’s degree and Certificate programs in more than 20 career fields. The College also offers continuing education programs to enhance career credentials.

Berkeley College has campuses in Midtown Manhattan and White Plains, NY, as well as in Newark, Paramus, Woodbridge, and Woodland Park, NJ, with more than 4,900 students enrolled. In addition, Berkeley College Online® serves a global population. U.S. News & World Report has named Berkeley College among the Best Colleges for Online Bachelor’s Programs and among the Best Online Bachelor’s Programs for Veterans, for eight consecutive years. The website address is www.BerkeleyCollege.edu.

The mission of Berkeley College is to empower students to achieve lifelong success in dynamic careers.