Latino Small Business Owner and Chair of Travelers Diversity
Business Network to Lead Discussion at Los Angeles Economic Summit
LOS ANGELES--(BUSINESS WIRE)--
The Travelers
Institute, the public policy division of The Travelers Companies,
Inc. (NYSE: TRV),
will host a panel discussion, "Small Business, Big Opportunity," at the
Latino Coalition’s Southern California Economic Summit on Thursday, Oct.
6. This continues the Travelers Institute’s national series of symposia,
which build on the principles of small business advocacy outlined in its
recently released white
paper. The event will be held at the Millennium Biltmore Hotel in
Los Angeles, where, according to the U.S. Census Bureau, nearly 50
percent of the population is Latino, and more than one in five
businesses are Latino owned. Panelists will provide tips for navigating
the complex web of government regulations. Additionally, participants
will discuss business continuity planning and disaster preparedness as
well as strategies for success in today’s small business climate. More
than 250 entrepreneurs are expected to attend.
“As one of the largest insurers of small businesses in the country,
Travelers knows that minority-owned firms represent the fastest-growing
segment of our nation's economy,”* said Joan Woodward, Executive Vice
President of Public Policy for Travelers and head of the Travelers
Institute. “We understand the importance of these entrepreneurs as a
critical economic driver and are committed to helping small businesses
manage challenging risks, while influencing business-friendly policies
in Los Angeles and across the country.”
Woodward will moderate the symposium, which will convene small business
owners, industry leaders and entrepreneurial advocates to raise
awareness of specific issues facing Latino Coalition small business
owners, while identifying real-world solutions. Panelists include:
- Carlos Alfaro, Co-Founder and President, INSURENEX
- Monica Blanco, Travelers Second Vice President, Product & Platform,
Small Commercial, and Chairman of Travelers’ Hispanic Business Network
- Marty Keller, CEO, Small Business Revolution and former Director of
the Office of Small Business Advocate for the State of California
- Kevin H. Watson, Senior Vice President, U.S. Chamber of Commerce
Institute for Legal Reform
“As a Latino small business owner in the Los Angeles area, I understand
first-hand the challenges we face,” said Carlos Alfaro, who owns
INSURENEX, a leading independent insurance brokerage firm in the city.
“Through coverage placement and overall risk management planning, my
business focuses on helping small growth and mid-size companies achieve
higher levels of success. The Latino Coalition Economic Summit and the
Travelers Institute’s symposium provide an ideal solutions-based
dialogue for me to participate in and bring back to my customers.”
At the event, panelists identified access to capital as a major issue,
which aligned with Union Bank’s 11th Annual Small Business Economic
Survey conducted earlier this year in California, Oregon and Washington.
The poll, which measured 3,000 entrepreneurs, showed that more small
business owners in the Los Angeles region (27 percent) than all other
counties surveyed applied for a business loan or access to credit in
2010. Of these business owners, 38 percent were denied a loan or access
to credit. Of those denied, 69 percent were unable to find alternate
financing.
“Small businesses comprise 98 percent of all businesses in California,”
said Marty Keller, who previously served as the Small Business
Administration’s California Director. “At Small Business Revolution, our
goal is to put small business interests and economic recovery at the top
of the state’s legislative agenda – and we’re proud to raise these
issues and facilitate discussion with the Travelers Institute on this
important topic.”
In recognition of the Travelers Institute’s leadership and
participation, Latino Coalition Chairman Hector Barretto, who served as
the Administrator of the U.S. Small Business Administration for five
years, said, “The Latino Coalition aims to arm our constituents with
effective tools that enhance business success though initiatives and
partnerships. We are so pleased and proud to stand with Travelers as a
thought leader on the issue of small business advocacy.”
About the Travelers Institute
The Travelers Institute, the
public policy division of The Travelers Companies, Inc., engages in
discussion and analysis of public policy topics of importance to the
insurance marketplace and the financial services industry. The Travelers
Institute draws upon the industry expertise of Travelers’ senior
management and the technical expertise of many of Travelers’
underwriters, risk managers and other experts to provide information and
analysis to public policy makers and regulators. Travelers is a leading
provider of property casualty insurance for auto,
home
and business.
For more information, visit www.travelers.com.
About The Latino Coalition (TLC)
The Latino Coalition (TLC)
was founded in 1995 by a group of Hispanic business owners from across
the country to research and develop policies relevant to Latinos.TLC
is a nonprofit national organization with offices in Southern
California, Washington, D.C., and Mexico. TLC addresses policy issues
that directly affect the well-being of Hispanics in the United States.
TLC's agenda is to develop initiatives and partnerships that will foster
economic equivalency and enhance overall business, economic and social
development of Latinos. Travelers is a sponsor of TLC, and recently
participated in the Small Business Summit in Washington, D.C., in May
2011.
*As reported by the Small Business Administration.
Travelers
Ashley Maagero, 860-277-2954
AMaagero@Travelers.com
Source: Travelers