Mi Negocio Academy Provides In-Depth Entrepreneurial Development for the Emporia Hispanic Community

Supporting entrepreneurs is an essential part of economic development, and the Emporia Area Chamber of Commerce is helping Spanish speakers grow their businesses with Mi Negocio Academy. Rebeca Herrera, membership director at the Chamber developed a five-part program with the help of SBDC.

“We have people come into the Chamber Office who want to start a business and don’t know where to start, our course can help them get their thoughts on paper,” says Herrera. “We also help more established business owners. You can’t be too early or too deep in the game to be part of this class.”

Mi Negocio Academy is currently in its second year. The first class had 17 participants and the second has 19 entrepreneurs. Learn more about this valuable program and how it’s building small businesses in Emporia, Kansas. 

Participants Meet Monthly for Entrepreneurial Education

Entrepreneurs who sign up for Mi Negocio Academy attend monthly courses that last 2.5 hours each. Students receive homework to complete between meetings to build their business plans and apply what they learned. During each session, students learn from different community leaders who are happy to offer their insight and guidance. Here is an overview of each class.

• Part One: students are introduced to mentors and discuss the value of mentorship. This class connects students to the Small Business Development Center (SBDC) and Emporia Spanish Speakers. 
• Part Two: students meet with commercial loan officers in town and an SBA Officer from Wichita to discuss different financing options.
• Part Three: students to meet with representatives from the City of Emporia to learn what permits and licenses they need. 
• Part Four: students learn about commercial space, insurance needs, and legal options for forming a business. This class covers topics related to different types of insurance and business structures like running an LLC vs. S-Corp.
• Part Five: students learn advertising and marketing. They connect with radio and newspaper representatives, along with online publications. They also learn about resources available at KANSASWORKS Southeast.

Each class is designed for participants to receive individual support. For example, an insurance representative can offer insight into getting a liquor license to an entrepreneur opening a restaurant and suggest specific workers’ compensation coverage options.

At the end of the five-part course, students participate in a graduation exhibition where they share their business plans and meet with potential investors or members of the general public. Herrera and the Chamber stay in contact with graduates as they apply what they learned to their businesses.

Mi Negocio Academy Turns Goals Into Action Plans

This course allows entrepreneurs to launch their businesses, but it also benefits participants who have existing companies and want help growing them. Herrera shared the story of a restaurant owner in town with limited English skills who wanted to install a patio. During a session at Mi Negocio Academy, they spoke directly to someone from the permitting office. Their patio permit was approved within 10 days.

Mi Negocio Academy connects people with the resources they need and closes information gaps. A patio project that the owner thought would take more than a year to complete took about a month, and his business is more profitable because of it.

“If you have the right connections, you can make things happen,” says Herrera. “Mi Negocio Academy helps the Hispanic business community make these connections.”

Herrera adds that the demographics of participants in Mi Negocio Academy have varied widely, with entrepreneurs ages 17 to 65 signing up across different industries. There are seven to eight different nationalities per class. This diversity further promotes networking while also introducing participants to different perspectives. 

Emporia Residents Can Support Entrepreneurial Growth 

Mi Negocio Academy only costs $100 and the price was set intentionally. The Chamber wanted to keep the courses affordable while also ensuring participants would show up because they bought into the class.

There are several ways for Emporia residents and businesses to support Mi Negocio Academy. First, the Chamber is always looking for sponsorships. You can sponsor this project and speak at the graduation showcase. The Chamber will also promote your business throughout the course. Investment can help this program grow, allowing it to accommodate more participants.  

Herrera is also looking for people who want to invest in participants. “Capital stops a lot of people from growing their businesses,” she says. “Having different funding options for minorities would be beneficial.”

If you cannot sponsor the course, you can support Mi Negocio Academy and its participants by attending the graduation exhibition and buying from the companies. This allows Hispanic-owned businesses to thrive in Emporia and creates a growth-minded community.

“Emporia is a great place to live because we are a welcoming city,” says Herrera. “We want to cater to people who want to be here. If you come to Emporia, we want to help you in any way we can.”

Herrera adds that the Hispanic community is growing, and Emporia needs to cater to people who are moving here and want to start a family. Starting a business allows new residents to put down roots, so they are more likely to stay and bring Emporia a brighter future.

The Emporia RDA Supports Hispanic Business Investment

The Hispanic community continues to grow in Emporia and is helping Lyon County expand. The Emporia Regional Development Association (RDA) participates in Mi Negocio Academy and helps students understand the role economic development plays in community growth. Learn more about how the RDA supports the quality of life in Emporia and sets this region up for success.