Business
Thoughts on Financial Literacy Explained through the Experiences of a New, Immigrant Small Business Owner
By Josaline Cuesta, California Program Director, Small Business Majority & IEBJ Content Contributor
Women entrepreneurs have driven new business growth and job creation for the past two decades. And despite having to navigate a shecession in 2020, women persisted. However, despite their persistence, this community continues to face unique challenges in accessing capital and connecting with the right financial networks. As such, Small Business Majority has partnered with the Women’s Economic Ventures and FOUND/LA on a Back to Basics Cohort Series developed by women and geared towards better supporting women business owners to grow and thrive in the face of financial challenges.
During Financial Literacy Month, we implore women entrepreneurs to check out this interactive cohort series that will give small employers the tools they need to take charge and understand their finances.
Alma Beaty is a real-life example of an entrepreneur working to take charge of her financial future, overcome barriers and pursue her American dream. Alma is based in the southern California area and owns “Relat-Able” – an online boutique with merchandise geared toward supporting: life stages, living with disability/disabilities, hanging out with family/friends, overcoming adversity, dating, you know, Relat-Able life stuff. Alma is not a seasoned business owner with staff. She started her business two years ago, but found the courage to go public in December 2022. She is a self-employed immigrant who is also deaf. But, like many innovative entrepreneurs, she had an idea(s) and strived to see it to fruition, working through the nuances of accessing and managing capital with limited resources. Through five short questions, Alma shares advice on what she has done to strengthen her financial wellness.
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Why is financial literacy important for small business owners? “It teaches us to not only make wise decisions on what we spend/invest in (regardless of the industry we are in), but it also helps us to calculate our wins and losses. Thereby helping us see whether or not a business is profitable.”
What have you done recently to strengthen your long-term financial plan? “I have been allowing myself to get into the habit of making spreadsheets. It felt weird at first, like in a mature-responsible kind of way. But in a fun and positive way as well.”
Which do you find easiest to obtain and manage? Business credit cards or small business loans from a traditional bank? “If we can be responsible with it, and we should, business credit cards will quickly increase our business credit and make it much easier for banks and lenders if we ever need to apply for a business loan. But ask me again six months from now. My answer may change depending on how much I have in the bank.”
What was the most significant financial mistake you made when just starting? “Spending so much money on things to get Relat-Able started only to realize I didn’t need all the stuff I bought later. And hiring graphic designers, only to realize these are things I could do myself. But despite realizing later that I could do graphic designing on my own, I didn’t regret hiring these designers. If anything, it taught me the importance of patience. And if I were ever to hire a graphic designer(s) again (and I will), it would be done with intention.”
Have you found the “Back to Basics” series helpful? Can you share another “go-to” financial literacy resource? “I find the Back to Basics series to be extremely helpful! I can’t say this enough. Being able to sit at a table (virtually) and have access to a sign language interpreter with other women to learn about financial literacy taught by women is the kind of empowHERment we (women and young girls) will always need. In honor of Women’s History Month, I would love to give a shout-out to my other go-to financial literacy resources. Such as: Melody Hobson, Dash Kennedy, and Tori Dunlap.
Honoring Visionary Leaders Driving Innovation and Community Impact
The Spirit of the Entrepreneur Awards Gala, held at the Riverside Convention Center, celebrated the brightest entrepreneurial talent across the Inland Empire. Among the evening’s finalists was Edward Ornelas, Jr., President & CEO of the Inland Empire Regional Chamber of Commerce, who was honored in the Social Entrepreneur category for his outstanding leadership and commitment to the region.
Although Ornelas did not win, the Social Entrepreneur award went to Cesar Navarrete, President & CEO of Children’s Fund, a proud Chamber member. “Being a finalist alongside such remarkable leaders is an incredible honor,” said Ornelas. “I am especially thrilled to see Cesar, a Chamber member, recognized for the transformative work he’s doing to improve the lives of children in our community. It’s a proud moment for us all.”
Another highlight of the evening was the recognition of Hilda Kennedy, President & Founder of AMPAC Business Capital, another Chamber member, who was awarded the Top Female Entrepreneur category. Hilda’s leadership at AMPAC, a mission-driven business lender, has been instrumental in empowering small businesses and fostering economic growth across the region.
“It’s amazing to see leaders like Hilda and Cesar being celebrated for their contributions,” added Ornelas. “Their achievements underscore the talent and dedication of entrepreneurs in our Chamber and across the Inland Empire. They are setting the standard for excellence and impact in their fields.”
The evening also featured the prestigious “Best of the Best” Award, sponsored by Best Best & Krieger LLP, which was awarded to Mauro Gomez, Chief Growth Officer of Anita’s Mexican Foods Corp.. Based in San Bernardino, Anita’s Mexican Foods has grown from modest beginnings into a leader in the food production industry under Gomez’s strategic direction.
The Spirit of the Entrepreneur Awards Gala continues to shine a spotlight on the transformative work of Inland Empire entrepreneurs, celebrating their innovation, resilience, and commitment to the community.
For more information about the Spirit of the Entrepreneur Awards, visit https://www.spiritawardsie.com.
For more details about the Inland Empire Regional Chamber of Commerce and its members, visit www.iechamber.org.
Business
Inland Empire Chamber President Edward Ornelas, Jr. Named Finalist for Spirit of the Entrepreneur Awards
Celebrating Leadership and Innovation: Ornelas Recognized for Advancing Business Growth and Social Impact in the Inland Empire.
Edward Ornelas Jr., President of the Inland Empire Regional Chamber of Commerce and owner of the Inland Empire Business Journal, has been named a finalist in the famed 2024 Spirit of the Entrepreneur Awards. Ornelas is honored in the Social Entrepreneur category for his remarkable leadership and vision in fostering business growth and development across the Inland Empire. The award ceremony will take place on November 21, 2024, at the Riverside Convention Center, celebrating the best of entrepreneurship throughout the region.
The Spirit of the Entrepreneur Awards, often regarded as the “Oscars of Business” in the Inland Empire, recognizes the innovation, leadership, and impact of outstanding entrepreneurs across various sectors. Ornelas joins a select group of 34 finalists, each representing the entrepreneurial spirit and resilience that define the I.E. business community. The Social Entrepreneur category highlights individuals like Ornelas, whose work goes beyond profit to positively impact society.
In his role as President of the Inland Empire Regional Chamber of Commerce, Ornelas has been a powerful advocate for the business community, connecting small businesses with essential resources and creating opportunities for growth. As the owner of the IE Business Journal, the only publication in the region dedicated solely to business news, Ornelas has provided a platform for local businesses to thrive by sharing their stories and promoting their success. His innovative, forward-thinking approach to marketing has earned him a reputation as a “visionary” and a “get-things-done” leader across both public and private sectors.
“I’m deeply honored to be recognized as a finalist for the 2024 Spirit of the Entrepreneur Awards. This nomination is a reflection of the incredible businesses and community leaders across the Inland Empire who inspire me every day. At the Inland Empire Regional Chamber of Commerce, our mission is to empower businesses and foster economic growth, and this recognition highlights the collective efforts of our entire community. I’m excited for what the future holds as we continue to work together to make a lasting impact,” said Ornelas.
Other notable finalists for the 2024 Spirit of the Entrepreneur Awards include leaders in healthcare innovation, green technology, and digital transformation. Each finalist, selected by a distinguished panel of judges, represents the best in their respective industries and contributes to the Inland Empire’s continued growth as a hub of innovation and entrepreneurship.
The Spirit of the Entrepreneur Awards is an annual event that brings together business leaders, community advocates, and entrepreneurs to celebrate the entrepreneurial excellence that drives the region’s economy. This year’s event promises to be a night of inspiration and recognition, showcasing the achievements of finalists like Ornelas, who continue to elevate the Inland Empire’s business landscape.
For more information about the Spirit of the Entrepreneur Awards and to see the full list of finalists, visit www.spiritawardsie.com.
The office is designed to support hybrid work and employee wellbeing
CBRE announced the opening of its new 10,159-sq.-ft. office suite on the ground floor of 4141 Inland Empire Blvd., in Ontario, Calif.
The office is part of CBRE’s Workplace360 program, which features innovative office designs and functionality, including in-office technology and a wider variety of collaborative spaces designed to support hybrid working. CBRE launched its Workplace360 program over a decade ago in its downtown LA office. Since then, the company has opened more than 100 Workplace360 offices worldwide, continually updating the program as work habits have changed over the years, especially with the increase in hybrid work.
“Our newly renovated space provides us with a great opportunity to deliver a collaborative, experience-driven workplace that supports hybrid work,” said Ian Britton, managing director and market leader for CBRE in Inland Empire. “Our Workplace360 office will also serve as a showpiece to help clients conceptualize flexible work strategies for their employees.”
The renovated office has several different work areas including focus, huddle, living, and conference rooms. The open-space lobby, known as the “Heart,” features a variety of seating and a communal space for collaboration. A large 86” media display with a speaker system welcomes employees, visitors, and clients and assists with onsite events.
New office technology, including touch-enabled video conference rooms, allows for hybrid work collaboration between in-office and remote employees and clients. Additionally, the Mt. Baldy conference room has Liquid Galaxy, a geospatial visualization platform set across large format curved screens providing a cinematic presentation experience. This room has an operable wall that opens to the Heart, creating an onsite event space.
A cornerstone of the Workplace360 model is its free-address approach, in which there is no dedicated seating. The free-address approach allows employees who are in the office on a given day to use any workstation or office.
The office’s design led by CBRE Design Collective, took inspiration from the Inland Empire’s orange groves and mountainous landscapes of Mt. Baldy. Images of Route 66 from local photographer VC Torneden features the role the highway plays in the area.
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