The North Central Massachusetts Chamber of Commerce launched a new Latino business council aimed at helping Latino business leaders better access capital and networking opportunities.
The council is called LIDER, the Spanish word for “leader,” and stands for Latino Initiative for Development of Entrepreneurship and Resources.
LIDER held a kickoff celebration on July 8.
Latinos represent 30% of the Fitchburg population and about 18% of Leominster’s population, well above the 12.6% state average. At the same time, the number of Latino businesses is growing nationally (up 44%, according to the chamber) while Latino business owners continue to face greater barriers to networking and accessing capital than their white counterparts. That disconnect could lead to stagnation in a significant part of the local economy.
“LIDER represents an important step toward greater Latino representation within our business community,” Maribel Cruz, chair of the LIDER steering committee and director of housing and development for the City of Fitchburg, said in a statement.
The council aims to support Latino business owners both new and established through networking and workshops on financial literacy and access to capital, as well as professional development on topics like government procurement and growth strategies. The chamber hopes LIDER will attract new members as well as support those already affiliated with the organization.
Monica Benevides is a correspondent for Worcester Business Journal.
