First Coast Hispanic chamber to recognize business leaders | Jacksonville Today

The First Coast Hispanic Chamber of Commerce plans to celebrate trendsetters and trailblazers on Friday evening with its fifth annual Excellence in Business Awards.

Chamber President Monica Hernandez says the ceremony is a celebration of the people and businesses who are part of a rapidly growing community in the region.

“Hispanics are opening businesses. Hispanics are creating jobs,” Hernandez says. “If you are a business owner who would like to tap into the Hispanic community, this event is where you meet the doers. The recipients are the ones who are shaping our community through their businesses in a positive way.”

Alongside a Business Leader of the Year and Small Business of the Year, the ceremony will recognize an emerging business that has been started in the last five years and exhibited a strong commitment to the Hispanic community. Other awards will be a salute to a Rising Star as well as Women in Business Award.

In October, the U.S. Hispanic Chamber of Commerce recognized the First Coast Chamber as its Small Chamber of the Year for the second time in the past six years. Hernandez says the nationwide recognition was possible because of years of consistently providing programming like an all-day entrepreneurship seminar in August, monthly networking “cafecitos” and partnerships that are relevant to both members as well as businesses.

Florida has the largest share of Hispanic-owned businesses in the country. The U.S. Census Bureau’s 2022 Annual Business Survey, released in October, reported that 85,9066 off the 473,751 businesses in the state — or 18.1% — are Hispanic-owned.

In September, fintech firm WalletHub ranked Jacksonville No. 19 in the country for Hispanic entrepreneurs, up from No. 29 the year before.

Nationwide, construction, food service/hospitality, and scientific and technical services are the three largest sectors of Hispanic-owned businesses.

During the federal fiscal year that ended Sept. 30, the Small Business Administration loaned $3.3 billion to 9,600 Latino-owned businesses.

A new administration will arrive at the federal level in January. In prior conversations with Jacksonville Today, Reps. John Rutherford, R-Jacksonville, and Aaron Bean, R-Fernandina Beach, have expressed a desire to extend the Tax Cuts and Jobs Act of 2017, which President-elect Trump signed during his first term as a way to spur small-business growth.

That law, among other things, allowed owners of sole proprietorships to deduct 20% of their income for tax filings and provided tax credits for employers that provide paid family and medical leave.

The law also created Opportunity Zones, which were designed to spur investment in under-resourced communities by providing additional tax credits and incentives for developers and business owners who operate in federally designated census tracts, including portions of Spring Park, St. Nicholas and the Westside.

“There’s this cloud that’s out there off the coast that’s going to be a massive tax increase to small business that hits us next year, unless we act on it. We want to fan the flames of excitement for anyone, not just (people) of Hispanic heritage,” Bean said in October when asked about the region’s growth of Hispanic-owned businesses. “Whatever you are passionate about, whatever you have an interest in, consider doing a side hustle and see if it catches fire. Then, go from there. You never know.”

Rutherford will provide the keynote address Friday evening. Hernandez says the chamber has been intentional about connecting with elected officials from both parties at the local, state and federal levels.

“The drive to be successful, I think that’s the one common factor, the common denominator, is that drive to build the American dream; to provide to your family and to build a legacy for our families and our communities.”