Suazo Enterprise Heart President and CEO Silvia Castro, left, and the middle’s founder, Gladys Gonzalez. By means of their work with the Suazo Enterprise Heart, the 2 ladies have helped about 5,000 Utah small companies. (Courtesy Silvia Castro and Gladys Gonzalez)
Estimated learn time: 8-9 minutes
WEST VALLEY — The Suazo Enterprise Heart has jump-started about 5,000 Utah small companies over the previous twenty years, about 93% of that are minority-owned.
Two ladies have pushed that success: the middle’s founder, Gladys Gonzalez, and its present president and CEO, Silvia Castro.
The ladies, each immigrants from South America, know firsthand the challenges first-generation immigrants face in terms of “making it” within the US They’ve used these experiences to supply culturally related, multilingual enterprise recommendation and mentoring to entrepreneurs throughout the state .
“The entire idea of I need folks that appear to be me, communicate like me, and perceive me to assist me,” Castro mentioned. “One of many superb issues concerning the work that we do at Suazo is that we get to vary not solely that particular person’s life however their household’s life… we will really change the financial trajectory of a complete whole household.”
Making the trail simpler for others
Gonzalez was nicely into a longtime profession when home terrorism pressured her to immigrate to Utah from Bogota, Colombia, in 1991.
Drug traffickers angered by the extradition of a Colombian suspect to the US and an American pledge to ship support to assist the Colombian authorities battle drug cartels escalated a terror marketing campaign. Gonzalez mentioned traffickers threatened that for each drug seller that was extradited to the US, seven People or individuals who labored for them can be killed.
As an govt at an American financial institution, Gonzalez felt like she had a goal on her again. The financial institution’s head fled the nation nearly instantly, whereas Gonzalez and different employees started working from a safe condominium with motorcade escorts to and from work.
“It was a really scary time for my household, my children, for myself,” she mentioned. “It was a horrible time as a result of it was bombs exploding in all places.”
Her financial institution provided to maneuver her to Log Angeles, New York or Miami, however Gonzalez did not really feel protected transferring to an enormous metropolis. As a substitute, she moved to Utah, which she had visited beforehand due to her religion in her in The Church of Jesus Christ of Latter-day Saints. She anticipated to get a job at a financial institution however was turned down a number of instances. Her diploma from ella, skill to write down, learn and communicate English, banking background and expertise as a diplomat meant subsequent to nothing to employers within the US
Gonzalez went from working in one among Bogota’s most essential buildings, using a private chauffeur and having two maids to work three low-paying jobs to get by: caretaking, newspaper supply and workplace cleansing.
“For me, cleansing flooring in banks and all of this was a studying faculty as a result of I discovered to understand how many individuals must struggle after they come as an immigrant,” she mentioned. “I needed to begin from floor zero to make a dwelling within the US”
Regardless of that impediment, Gonzalez quickly launched Mundo Hispano, which turned Utah’s largest Spanish-language newspaper and was finally purchased by KSL. In the course of the paper’s first few years, Gonzalez and her daughter, Sandra Gonzalez, made up the employees. The duo juggled all the things from writing and modifying to designing and delivering the paper — all whereas persevering with to work full-time jobs.
At one level, strapped for money movement, Gonzalez thought she’d have to shut the paper. She went to then-senator Pete Suazo to inform him concerning the information. The senator was adamant that Gonzalez could not shut down what he informed her was the voice of the Hispanic neighborhood.
Suazo helped Gonzalez safe a microenterprise mortgage for $10,000 — sufficient to maintain the paper going. By 2009, the paper’s readership grew to about 35,000 and it had seven freelance writers, in addition to one correspondent in Mexico Metropolis and one other in Colombia.
“It’s not in circulation at this time, but it surely was what allowed me to reside the American dream,” mentioned Gonzalez, who has additionally owned a number of companies, together with an advert company and house-flipping firm. “The newspaper did not give me cash as a result of all my cash was already invested, but it surely gave me visibility and helped me to realize different objectives that I had.”
A kind of objectives was to open a enterprise middle that might assist people the identical approach Suazo helped her. In 2001, after Suazo died in an ATV accident, Gonzalez based the Suazo Enterprise Heart. Her imaginative and prescient of her for the middle was to “put collectively all of the issues that we have to be taught from the American tradition and the great issues now we have to supply the American neighborhood.”
“We Latinos have an entrepreneurial spirit; it is one thing pure for us,” she mentioned. “My recommendation can be do not imagine that you’re lower than anybody else. You may go as excessive as you need. You may fulfill your goals so long as you imagine in them and take motion.”
Constructing on success
As Gonzalez was constructing a newspaper, Castro was going by means of the American faculty system.
Her household moved to Utah from Ecuador within the early ’90s, when she was 14, with the objective of guaranteeing she and her sisters had a greater schooling and, finally, higher alternatives to be financially safe adults.
Adapting to “a model new all the things” wasn’t simple. Castro’s saving grace was that she and her two sisters have been thrown into junior-high life collectively. They took probably the most superior Spanish class their faculty provided — a small break every day from what Castro mentioned was a very international schooling system.
“I rapidly discovered that it was form of self-driven,” she mentioned. “That was very fascinating to start out. And that is what I form of discovered, that there is plenty of methods right here on this nation which might be self-driven. … So, that was one among my first classes transferring right here and being a youngster. “
That lesson would serve her nicely as she navigated faculty and finally her profession. From a younger age, Castro knew she needed to be in enterprise. She made certain to take superior placement (faculty stage) economics and finance courses in highschool and took part within the enterprise and finance golf equipment Kearns Excessive College needed to supply. By the point she began at Westminster Faculty, Castro mentioned she was impatient to graduate and begin her profession from her. She graduated with a level in worldwide enterprise in three years regardless of working full time.
“I used to be a girl on a mission,” she mentioned. “However trying again, I want someone would have informed me to get pleasure from it a little bit extra and get to know my friends a little bit higher — as a result of typically schooling isn’t just concerning the papers or attending faculty; it is concerning the individuals which might be actually sitting subsequent Let’s be sincere, the individuals which might be sitting subsequent to you’re gonna in all probability have an enormous say in the place your jobs are gonna be for the subsequent few a long time as a result of it is all about networks.”
It is one of many issues that, as the primary in her household to attend a US faculty, Castro mentioned she simply did not know.
Her first job out of school was because the Salt Lake Chamber of Commerce’s worldwide commerce specialist. In that place, she helped small companies learn to import and export merchandise. The love she developed for small companies throughout that first job caught, though Castro’s profession would span authorities positions, together with director of Hispanic Latino Affairs for 2 Utah governors, nonprofits like Goldman Sachs 10K Small Enterprise Program, and dealing with executives and enterprise homeowners from Fortune 500 firms.
Castro was working for the Salt Lake Metropolis Division of Financial Improvement when her present place opened up on the Suazo Enterprise Heart. She mentioned one thing inside her informed her she wanted to go for the place.
“I cherished what (Gonzalez) was making an attempt to create with this middle,” Castro mentioned. “I simply felt that they’d been doing this superb work, however on the identical time that it might do extra.”
She had two preliminary objectives: to create a program for girls to deal with the distinctive challenges they face and to push companies to develop into mainstream markets.
“So long as our purchasers solely considered Latinos as their purchasers, they might at all times stay small,” she mentioned.
In her 5 years with the middle, nevertheless, Castro has achieved these objectives and extra. The middle has opened a second location in Ogden, greater than tripled its employees, elevated its price range 5 instances over and considerably grown its reserves.
She mentioned probably the most tough factor she’s needed to overcome to get the place she is at this time is low expectations — one thing she mentioned is “simply a part of the minority expertise.”
“As a Latina, I must work thrice as onerous to get equal recognition. But, there’s at all times this low expectation,” she mentioned. “There’s at all times these low expectations when individuals are extremely succesful. Should you simply give them an opportunity, they’re going to shock you. However these low expectations are nonetheless round. And admittedly, I feel that is why we’re so profitable, as a result of at Suazo , there isn’t any room for low expectations.”
The Suazo Enterprise Heart affords fundamental, intermediate and superior programs for entrepreneurs in addition to advising appointments in a number of languages. The middle additionally affords assist with making use of for small enterprise loans in addition to in-house micro-loans for many who do not qualify for conventional financing.
For extra details about the middle, go to suazocenter.org.
correction: A earlier model incorrectly recognized Silvia Castro as the chief director of the Suazo Heart; she is the CEO and president.
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