Diapositiva 1

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Successful Latino Entrepreneurs
by Daniel A. Córdova
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Peru From a socialist regime to a free market
environment
Peru Per-capita GDP (US of 1994)
Socialist Regime
Free Market Reforms
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Lessons from the Poor Triumph of the Entreprene
urial Spirit
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Lessons from the Poor Triumph of the Entreprene
urial Spirit
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Emerging Entrepreneurs in Peru
Justina Ccanto and Confecciones Tina nightgown
confections.
Yolanda Rondón, the Queen of Corn, and her corn
distribution business.
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Emerging Entrepreneurs in Peru
Arón Prado, Acrimetal mannequins and Mobilia
steel furniture.
Edgar Durand and his leather belt shop and
distribution business.
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Growth of the Microfinancial Sector
Microcredit in Peru
Source SBS, SUNAT, Mibanco
37 financial institutions offering micro-credit
More than 3 million entrepreneurs receiving
credit.
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Growing Latino immigrant influx to the USand
growing remittances influx to Peru
More Latinos in the USA, more wealth in the USA
and in Latin America
Percentage of Latino Population in the US
Workers Remittances (Millions of US)
Source US Census Bureau
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Maria de Lourdes Lulu Sobrino and Lulus
Dessert Corporation

• Lulu was born and raised in Mexico city, and at
  the age of 18 she had her first business a
  flower shop.
  
• Later she opened a travel agency in Mexico with
  one office and expanded to Los Angeles,
  California.
  
• In 1982 because of the economic crisis in Mexico,
  she had to close it.
  
• While living in Los Angeles, she was looking for
  a popular dessert she had in Mexico, a
  ready-to-eat gelatin , she found out that this
  product did not exist in the American market.
• She decided to develop it using her mothers own
  recipe to start her own gelatin dessert business.
  
  
• Today her company sales 40 millions of cups a
  year and is ranked among the top 500
  Hispanic-owned businesses in the US.
  
• Lulu receives many invitations to speak in
  conferences, inspiring other Latino entrepreneurs
  to start or grow their own businesses. This year
  she has been invited by First Lady of California,
  Maria Shriver, to join a panel at this years
  Womens Conference in Long Beach, California in
  October 2009.

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Enrique Gonzales Aguayo and Vallarta Supermarkets

• Enrique had a very poor life in rural Jalisco,
  Mexico, until he run away from home at age 13 and
  came to the US at the age of 17 as a brasero.
  
• He returned later and worked in a restaurant
  where he learned about customer service and
  restaurant hygiene.
  
• After some years of working he decided to
  establish a cantina, the Cantina Vallarta,
  which he lost in a fire.
  
• He then opened a butcher shop called Carnicería
  Vallarta in 1985.
  
• The butcher shop business evolved to become his
  first supermarket, being this his first step
  towards true entrepreneurial success.
  
• Currently there are 18 Vallarta Supermarkets in
  California, which employ nearly 5,000 workers and
  sales annually btw US 20 26 millions per
  store.
• He has also invested in a horse ranch, which won
  the 2001 Los Alamitos horse-racing championship.

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Walter J. Perez, Walt Construction Corp.,
California Industrial Electric Corp. Axim Syst
ems Corp.

• Born in Callao, a poor province in Peru, Walter
  had his first business at age 13 renting lighting
  equipment for parties.
  
• The economic situation in Peru forced his family
  to move to the US in search of a more promising
  future.
  
• He started working in an industrial electric
  company as a manager after leaving a community
  college.
  
• At the age of 22 in 1985, he started his own
  business.
  
• He used his life-savings, almost US30,000, with
  which he bought the necessary equipment to form
  the California Industrial Electric
  Corporation.
• He decided to take on small jobs with fortune 500
  companies that the larger companies wouldnt do,
  which aroused as his main advantage.
  
• Following some research, he picked the very
  profitable aerospace sector as his niche, where
  he had considerable success. In few month he had
  already 100 employees.
• He has invested in his own real-estate projects,
  as well as other small companies, with an annual
  average of US25MM sales. He also has his own
  educational foundation.

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The Successful Latino Entrepreneurs Project
The Project

• Compiling 10 stories about successful Latino
  entrepreneurs living in the US.
  
• To show the contribution of Latino immigrants to
  the American economy
  
• To show how in a free society Latin American
  people can became rich through private business
  development
  
• To promote entrepreneurship among immigrants

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Successful Latino Entrepreneurs
by Daniel A. Córdova