Walter Villa, co-owner of Cuzco Chicken Run, came to the United States from Peru in 1989. He says that he has seen quite a bit of growth in the local Hispanic community over the past five years. View More Images from this story Visit the Photo Place

Hispanic business booming

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More Hispanic-owned businesses are opening in the Fredericksburg area

Date published: 4/1/2006

By CATHY JETT

By CATHY JETT

Gabe Rubalcava was one of a handful of Hispanics going into business in the Fredericksburg area four years ago.

Since then, the owner of Fredericksburg Press on Lafayette Boulevard said he's made business cards for 10 to 15 new Hispanic-owned businesses and knows of at least 15 more.

"What's important is that these people employ people here," said Rubalcava. "Fredericksburg wants to have new business. That's how it builds its tax base."

Hispanic-owned businesses are on the rise locally and nationwide. According to the latest Census Bureau report, there were nearly 1.6 million in this country in 2002. That's a 31 percent increase since 1997, which is three times the national average for all new businesses.

The majority of Hispanic-owned businesses nationwide are, not surprisingly, in such metropolitan areas as Los Angeles-Long Beach-Riverside in California and the New York City-Newark, N.J.-Bridgeport, Conn., area. Those areas topped the Census Bureau's list with 277,908 and 211,075 businesses respectively in 2002.

But Hispanics also are opening businesses in such places as the Washington-Baltimore-Northern Virginia area--which includes Fredericksburg and Stafford and Spotsylvania counties. The area ranked seventh on the Census Bureau list with 32,412 Hispanic-owned businesses generating nearly $54 billion in income that year.

While there are no official figures specifically for the Fredericksburg region, the Census Bureau did find 184 Hispanic-owned businesses in Spotsylvania in 2002. Combined, they pulled in more than $9.1 million in sales.

The increase in Hispanic-owned businesses locally hasn't escaped the Fredericksburg Regional Chamber of Commerce's notice. It plans to start a Hispanic Roundtable similar to other roundtables it has for businesses in Stafford and Spotsylvania.

Chamber roundtables give business owners a chance to network and hear talks on such things as arranging financing at monthly breakfast meetings. That could help Hispanics who may distrust banks or don't understand laws governing businesses in this country, Rubalcava said.

In addition, the Virginia Hispanic Chamber of Commerce in Richmond has teamed up with the Small Business Administration to offer the only Spanish/English bilingual Business Information Center in the country. It helps people develop a business plan and learn the skills needed to open and run a business.

The Virginia Hispanic Chamber also is working with the SBA and Innovative Bank to offer qualified small-business owners rapid approvals on loans ranging from $5,000 to $16,000, along with technical assistance.

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Date published: 4/1/2006