Hispanos Emprendedores Tennessee Tenth edition

No.10 l JULY - SEPTEMBER 2019

l Clarksville, an alternative for women who want to open their own business

l Get to know Tennessee a little bit better

Entrepreneurs from Clarksville, TN. Once again we are nominated for The Best Of Clarksville awards, for the second consecutive year we are the only minority magazine to participate in this important activity in the city.

In addition to this good news, we have alliances that would allow us to bring a lot of useful information to our readers, such as Austin Peay University who will be publishing with us.

As well as new contacts with Nashville incubators, who are willing to help Hispanic entrepreneurs as much as possible. We, in turn to, are planning days to help the entrepreneur with courses and talks.

In Hispanos Emprendedores we are working to always bring to you the most outstanding stories, information and news.

INDEX 03 05 07 09 11 16

Get to know Tennessee a little bit better Do I have to pay taxes when opening an online business?

Foreign companies help stimulate Clarksville’s economy Building a future without boundaries Clarksville, an alternative for women who want to open their own business 11 tips you will value if you start a business in your 20s

If you are a Hispanic entrepreneur who wants to start a business in the “Volunteer State,” you should know these figures to get to know Tennessee a little bit better. With this information, you will understand the culture more and the lifestyle of its citizens. And, perhaps new ideas may develop for your future project.

Redaction Hispanos Emprendedores We begin the tour through Tennessee talking about its most important historical aspects.

First, its name comes from the native word “Tana-see”, which means “where everything joins”. It is also known as the “Volunteer State” due to the great number of volunteers who showed up for the Battle of New Orleans during the war in 1812. The only monument in the country dedicated to both the Union and Confederates soldiers is in Greeneville.

Upon admission, Tennessee became the

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sixteenth state of the union, on June 1, 1796.

Among the most notable in Tennessee politics is Hattie Caraway, who was the first woman to be elected to the U.S. Senate. Andrew Johnson was another prominent figure who was elected for all of his local, state and federal positions, including the Presidency of the United States.

Finally, one of the most important historical events occurred in Memphis. Martin Luther King, Jr. was murdered outside of the Lorraine Motel; a

place that currently houses the Museum of American Civil Rights.

Facts to get to know Tennessee more closely Agriculture, music, and mining are three of the largest industries in Tennessee. A state that is also characterized by the kindness of its people. With a high quality of life and a favorable economic climate, starting a business in this state is a great alternative.

But before doing so you should familiarize yourself with its history and lifestyle.

MUSICAL STATE Tennessee’s musical history is one of the reasons this state has been made so popular. Nashville is known as The Country Music Capital of the World; however, this genre was born in the city of Bristol. Other popular rhythms are soul, rock ‘n’ roll and blues.

In Nashville, you will find the Country Music Hall of Fame and Museum, and you cannot miss the shows at the Grand Ole Opry with the longest-running live radio broadcasts. It has been heard every weekend since 1925.

The bars and restaurants that celebrate these genres abound in Tennessee.

In Memphis, we find Elvis Presley Boulevard, where Graceland is located. The House, where the singer lived, is the second most visited in the country. Also, in the center is Beale Street where food venues also abound and is famous for being the main stage for blues musicians.

We must not fail to mention the famous musicians who have left their mark. Dolly Parton, the star of country music, was born in Sevierville. Dollywood, the singer’s theme park, is in Pigeon Forge, where you can enjoy musical shows and traditional food.

BREATHTAKING LANDSCAPES The most famous landscape in Tennessee is the Great Smoky Mountains, the most visited National Park in the United States. Its name comes from the constant gray fog that covers the mountains and gives it its smoky appearance.

The breathtaking colors that the park takes on in autumn, its trails, waterfalls, and lakes, attract thousands of visitors. Here you can enjoy the views, camping, hiking, or rafting for the more adventurous.

During the visit, it is possible to see wild animals, including some of the 1,500 black bears that are estimated to live in the mountains. Throughout the state, there are more than 9,000 caves that are perfect for these giants to nap in.

Another natural wonder you’ll see in the state is the largest underground lake in the United States and the second-largest in the world. It’s called The Lost Sea and it’s in Sweetwater. In Lookout Mountain is Ruby Falls, an underground waterfall 145 feet tall.

of the state, we must mention Jack Daniel’s. This whiskey was born in Tennessee and is known throughout the world. If you go to any bar you just ask for a “Jack” and they will know what you mean.

Apart from Jack Daniel’s, there are other distilleries. Among these, you will recognize Ole Smoky Tennessee Moonshine, which produces light corn whiskey. In addition to producing the original flavor, new flavors have been added to their list. The company has four distilleries and The Holler, located in Gatlinburg, which is the most visited distillery in the country.

The state lands are fertile, and this gave way to the installation of various vineyards in Tennessee.

So well-known wines are also produced. Some of the wineries are Century Farm, Blue Slip, and Beachaven Vineyards, the latter located in Clarksville.

Which part of this information to get to know Tennessee more closely did you not know? The state has an interesting culture and an environment in which you can make your business prosper.

If you already have a business in Clarksville or any other city, contact us and let us know about it.

FROM WHISKEY TO WINE Among the most famous products 4

The Internet offers infinite possibilities for Hispanic entrepreneurs and reduces the inconveniences that physical companies usually present. But it is not always clear how management should comply with the laws. Here we clarify a common question: do I have to pay taxes when opening an online business?

Redaction Hispanos Emprendedores Having an online business is a great option to generate income and brings with it numerous advantages that conventional businesses lack. For a project of this type to work, you must familiarize yourself with technology and understand that it takes time just like any other project.

with unemployment or a lack of resources. Furthermore, you can start with something small and grow as customers get to know you better. It is necessary to understand that at the beginning it will be difficult getting to be well known, but with the right marketing strategies, you will gain visibility.

SCALABILITY It takes great effort to grow any type of business; the beginning may be the most difficult stage because no one knows you and you must win the trust of potential clients. Being on the Internet means having greater exposure, the opportunity to reach a wider audience without geographical restrictions.

If you are determined to start Among the benefits you will get an online business, this can be when creating a business on the But this is not automatic, you must a great opportunity if faced Internet include: work with promotional strategies 5

that allow you to gain the visibility you are looking for. The advantage is that in principle you can make a low investment and increase it to grow your business.

COST REDUCTION Compared to traditional businesses, on the Internet, management costs can be reduced. This is because there are some expenses that you do not need to assume; such as, renting of locations or long-term contracts. In general, this will help reduce financial risks.

GREATER FREEDOM TO RUN THE BUSINESS You can work from wherever you are. With this option, it is possible to start a business from home and look after it from anywhere, thanks to technology. You can also better manage your time so you can spend it on other activities, but it does not mean you should neglect it.

ACCESS TO A WIDER MARKET The Internet makes geographical boundaries vanish. Your business will have a very wide audience and can go international if you wish.

Or if you prefer, you can just target specific regions. It also remains open 24/7.

DO I HAVE TO PAY TAXES WHEN OPENING AN ONLINE BUSINESS? Among the frequently asked questions when starting an online business in Tennessee is whether taxes must be paid. Many people sell the products they make only as a hobby without being informed about the implications this may have.

To obtain a clear answer it is necessary to inform yourself well,

check with the town hall and a trusted accountant.

In Tennessee’s case, federal and state laws specify that sales taxes must be collected on transactions made with state customers. However, sales made to customers outside of Tennessee are not subject to taxes in this state.

But it should be noted that a ruling of the Supreme Court in 2018 indicates that a state can require online sellers to collect sales tax, even if they do not have a physical presence in it.

In other words, even if you are in Tennessee, if you sell to customers who are in another state that imposes sales taxes, you must obtain the license, collect and remit taxes. Be well informed to avoid any violation of laws.

Returning to the case of Tennessee, you must collect the tax if you have gross sales of $4,800 or more per year.

Regarding the commercial tax: • If gross income is less than $3,000 per year, you do not need a license, nor do you need to pay a business tax.

• Businesses that earn between $3,000 and $9,999 per year may choose to obtain a minimal activity license or a standard business license. In the latter case, the tax payment is required, in which the minimum amount is $22.

ONLINE SALES PLATFORMS Many choose to sell the products they make through sales platforms such as Etsy. These are popular and have the advantage that they do not need to invest in creating their website, they just need to create a user and start doing business.

This is a feasible alternative to obtain income, but we must not overlook the legal considerations.

In some states, it may be required to obtain licenses and collect sales tax.

It will be necessary to do it even if in principle you don’t see this activity as a business.

If you sell food products, the health department requires you to obtain permits to sell them online. Finally, if you sell under a fictitious name you must register the commercial name (Doing Business As).

If you still have questions about whether you should pay taxes when opening an online business, check with your trusted accountant.

It is better to be sure of every step you take with your company than breaking the laws because, in the end, it can be more costly.

Sources checked: www.revenue.support.tn.gov www.uschambersmallbusinessnation.com www.jimenezconsultingtaxservices.com

• In the case of businesses with revenues exceeding $10,000, they must obtain a business tax license.

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Thanks to a favorable environment, foreign companies help stimulate Clarksville’s economy. The advantages offered by the city favor investment and the expansion of international organizations.

In addition, economic development drives self-employment which, in turn, benefits the integration of those arriving from other countries. Learn more about it with Hispanos Emprenderores.

Redaction Hispanos Emprendedores

There are many reasons why Clarksville, Tennessee stands out as one of the most attractive cities for foreigners who want to start a new life in the United States. First, we find that it offers excellent expansion conditions for foreign companies. At the same time, they can bring along with them staff from their home countries who are willing to settle in the new location.

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On the other hand, the ease of starting small and medium businesses keeps the economy and the labor market active.

This translates into a low unemployment rate and many work opportunities. Education levels are also high, and with its important educational centers, the city attracts foreignborn students and children of foreigners born in the United States.

All these factors contribute to the increase of the foreign-born population in Clarksville, which has found a way to integrate into society.

By 2015 there were more than 12,000 foreign-born residents in the city, according to surveys.

A diversified economy and the presence of organizations that help integration have contributed to keeping this figure high.

Hispanics and Asians are two of the communities that reside in the city. Although they are very different cultures, they have found a point of convergence in this region.

Another factor that contributes to the increase in the foreignborn population is the military presence. This happens because many have married people from other countries and then settled in Clarksville.

HOW DO FOREIGN COMPANIES STIMULATE CLARKSVILLE’S ECONOMY? During the last few years, we have witnessed the arrival of foreign companies in the city. It’s not just big corporations, small entrepreneurs have also taken a risk and invested in Clarksville.

This constant increase in foreign companies is due, first, to the opportunities they see in the city.

On several occasions, it has been recognized as one of the best cities in the United States to start a business. Also, not having such a large population makes it easier to stay in the minds of customers.

Opening a business here is economical compared to other cities, and the starting process is fast. The cost of living is low, which makes it easier for foreign workers to settle in and even acquire homes at competitive prices.

The latter especially attracts the youngest of this group, seeing

the opportunity to buy their first home.

Other positive aspects are the logistical advantages and the high quality of the workforce.

Finding employees with a degree - including the Hispanic population and other foreigners - is not complicated. On the contrary, the educational level is quite high; among other reasons, because they are aware of the benefits of having a good academic background.

In addition, access to education at all levels represents the possibility of having more profits and further improving their quality of life.

INTEGRATION INTO WORKING LIFE More than 60% of the foreignborn population in Clarksville is part of the active workforce; either as an employee or an employer working from their establishment.

The presence of international companies is attractive to foreign communities, who see in these an opportunity to receive a higher income.

Economic development also offers opportunities for selfemployment. This is not only favorable for entrepreneurs but for the city itself, as it helps accelerate the economic recovery of the region.

jobs. In Clarksville, there is enough personnel that fulfills the requirements that companies are looking for and if not, they are likely to arrive from other parts attracted by the dynamics of the city.

Foreign workers achieve stability because their income level is high; something that is based on the educational level. Clarksville is a city that is growing, and the presence of foreign communities is key in this development.

SOCIAL PARTICIPATION The integration of foreign-born residents is not limited to working life. Socially their participation is also very important.

Locals have been receptive to these communities, but they have also been concerned with being part of the social life. They have demonstrated their ability to adapt to the new situation and customs of the city. The interaction has been positive, and this has contributed to other areas such as education, economics, etc.

There is no doubt that foreign companies help stimulate Clarksville’s economy. Therefore, if you are looking for a city to start a business, this may be the right place.

These factors contribute to the constant generation of jobs and increase the demand for trained personnel to fill these

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To this day, the struggle to better himself, and achieve his goals has always paved the way David Bracamonte dbracamonte@hispanosemprendedores.com Tico Home Improvement is the typical story of an entrepreneur, who knows he is good at something and does not abandon his idea and then finally begins to see the positive results of his effort and sacrifice.

Norberto “Ticoâ€? JimĂŠnez shares and enjoys his Hispanic roots, which to this day, has continued to open many doors, both in his personal and work life.

Born to Cuban parents, who had been living in New Jersey from a very young age, Tico has the privilege of mastering English and Spanish. This has always helped him a lot and continues

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to open doors since he can work with both Spanish and English-speaking customers.

This is, without a doubt, a great advantage, at work, and on a business level.

Over 15 years ago, because of health problems and stress caused by living in a big city, Tico and his wife had to decide to move, and the city they chose was Clarksville, Tennessee.

Although it was a small city, at that time it had everything he needed to be able to relax more and to open his own construction business, since the city was growing.

A POPULAR BUSINESS He has always been very good at construction, “I’ve been constructing since I was young, and I learned by reading and watching specialized construction videos.

I’ve always been good with physical work and I love to build things. But there comes a point where you can’t just be self-taught and I had to get my contractor’s license from the State of Tennessee, which is a very important certification for what I do,” said Jiménez.

One of the keys to a good entrepreneur is discipline. This is something Norberto knows very well since he was in a military school for 7 years and then went to the NAVY, where he spent another 4 years and worked as Navigator QM2.

OVERCOMING OBSTACLES But if there is something Tico has is his strength to overcome obstacles, and one of the biggest is his Asperger’s condition. “I always knew that I was different and suffered a lot because things that for everyone were “normal” for me they were not. I always thought I had a problem, but I didn’t know what it was. It wasn’t until 2015 that I found out the name for what I had, and it was Asperger Syndrome. Having the syndrome was not a hindrance for me; I have achieved all the goals that I have set for myself, although not always, in the same manner in which most people would do it”, informs Tico.

His family has been great allies for him. “One of the biggest problems I have is that I am not socially correct, sometimes I say and do things that people do not understand. I am different and knowing that I am has taught me to manage my emotions positively. Because I have a family that understands me, supports me and respects me the way I am, I have been able to be successful in my personal life and my business,” adds Norberto.

ENTREPRENEURSHIP For the company Tico Home Improvement, the process has not been as fast as they might have imagined in the beginning, partly because “it is difficult to find professional people who have the same vision and the same ethical values in their work. It is not just doing things just to get them done, it is doing them well, doing them the best way you can”, and Tico adds that ‘it is very important to look for professionals who help make your business prosper, and stay current.

Entrepreneurs need an accountant to keep their taxes and licenses up to date, a person who will take care of their social media accounts and good customer service.”

As a last bit of advice, Norberto tells all entrepreneurs, “don’t try to grow very quickly, rather, take your time to understand your business and plan for your growth. Nothing comes that quickly.”

CONTACT THEM AT: www.ticohomeinprovement.com @ticohomeimprovement Tico Home Improvement 931-2174816 10

With a high quality of life and affordable costs, Clarksville has become an alternative for women who want to open their own business. In Hispanos Emprendedores we tell you why and where to seek support if you want to follow this path.

Redaction Hispanos Emprendedores Clarksville has been named several times as one of the best cities to start a business in the United States. The reasons for this include a high standard of quality of life, while costs remain low.

The young population is attracted by the ease of buying their own home and there is a high rate of skilled workers.

Add to this the willingness among the city’s inhabitants to help each other; which includes organizations aimed at boosting new businesses in Clarksville. These have launched programs that help entrepreneurs at every stage of the process.

Several of these programs focus on helping 11

minority groups, veterans, and women as well.

Female entrepreneurship is gaining momentum throughout the state of Tennessee and Clarksville is no exception to this trend. Support comes from public and private institutions. The Chamber of Commerce, and organizations such as W.O.M.E.N., are some of those that encourage women entrepreneurs.

Besides, the process to start a business is not complicated and the information is accessible.

Although it is always advisable to seek advice to help you define the project and in all legal aspects.

Although programs have been created to

encourage women who want to start businesses, there are still challenges to face.

CHALLENGES FOR LATINA WOMEN There still exists an important gender gap in the business world today. Although more and more women dare to take the final step to start a business, the obstacles have not been easy to overcome. We must add that accessing managerial positions or achieving equal pay has not been easy either.

For Latina women in the United States, there is an extra challenge that must be overcome when forming part of a minority.

The Latino community in the United States continues to increase. Although some think that it has already reached its highest peak, they remain the minority with the greatest presence in the country. Their level of academic preparation is also high, especially in younger generations.

Despite this, access to credit is difficult for Latinos, especially for women. This complicates the possibility of obtaining the necessary resources to invest in Clarksville. However, there are alternatives to turn to, such as angel investors.

In any case, women must continue fighting to access venture capital. Trust towards this group grows, and they have

shown that they can contribute a lot to the country’s economy.

WHERE TO SEEK SUPPORT TO START A BUSINESS? It does not matter if it is the first time that you start a business or if you have already done it before, it is always convenient to have someone helping you. That is why our recommendation is to find a mentor and approach other entrepreneurs who have also gone through this process.

Attending training events, workshops, seminars, and other activities will give you the tools you need to start your business in Clarksville. These types of events are frequently held in the city. You just need to know where to look and then listen to the experience of successful entrepreneurs.

Two sources that will support you and provide you with a good amount of information are the Clarksville Chamber of Commerce and the Small Business Administration or SBA. You can learn about all of the available programs in either of the organizations.

On sites like Eventbrite, you can follow up on the different events that take place in the city.

The MeetUp social network is another resource that you can take advantage of. The objective of this platform is to create groups and organize meetings in person. Businesswomen are taking advantage of it to publicize networking events.

Participating in these will help you increase your knowledge, familiarize yourself with the laws, as well as the process of training and managing a company. It will also put you in touch with potential clients, suppliers, and investors.

If you take advantage of the resources offered in Clarksville, you will see that it is a valid option for women who want to open their business. Turn your business idea into a reality. At Hispanos Emprendedores, we will help you get the word out. Get in touch with us.

Entrepreneur Meetings You can also go to the local W.O.M.E.N. chapter in Clarksville.

An organization that arrived in the city more than five years ago to educate and celebrate the success of female entrepreneurship.

Likewise, it offers a networking platform for you to meet other businesswomen and grow your network of contacts.

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Perseverance, research and the knowledge that mistakes leave are key to materialize and grow your projects.

Starting a business when you’re young is bold, but it gives you the momentum you need to gain experience and forge a great future. In Hispanos Emprendedores, for this very reason, we have gathered these tips that you will value if you start a business in your 20s.

Redaction Hispanos Emprendedores Do you have an idea of what may generate income for you in the future? So why not make it a reality? Leaving your comfort zone is the first step to becoming a great entrepreneur.

From the beginning, you must be aware that the road will not be easy. As you progress you will find obstacles that you will have to overcome, but if you remain focused on why you started,

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you will have a purpose to move Clarksville, that will help you start. forward.

Turn to these to learn about the laws, the permits you need, the You should also understand that financing options, etc. Among the you don’t have all the answers. main ones is the Small Business Even if you have an idea of what Administration, but you can you want to achieve, listen to also use others that have similar other people who have already purposes. been through the same thing you are facing right now.

Find what you like and what you are good at. This will help you Find a business mentor; there stay inspired all the time and you are numerous organizations, in will be more satisfied with what

you get. But stay open to changes, because not everything will go as planned and at some point, you will have to make adjustments to have a successful business.

If you focus on what you want and surround yourself with the right individuals, you will gain the experience you need. And, above all, be patient, because success will not come immediately, but when you reach it you will have a stronger foundation.

11 TIPS YOU WILL VALUE IF YOU START A BUSINESS IN YOUR 20S

So far, we have already mentioned some valuable recommendations, but there is much more you need to know if you are a young entrepreneur.

Trust what you can achieve Visualize yourself succeeding and you will achieve it because you will have the drive to work on your goals. Your mind is the biggest obstacle because it knows your weaknesses. Don’t give power to those thoughts that want to keep you in the same place you are today.

Know what your goals are You can’t work on your goals if you don’t know what they are. Set clear goals and focus on them every day until you reach them.

Build a good team No entrepreneur gets far alone, surround yourself with people who will motivate you and are willing to work with you. Keep in touch with other entrepreneurs and with business owners who know what you are going through. Find

people who have been successful and make adjustments to your in the same industry as you and project to ensure future profits. learn from them.

Listen to your mentor and your Don’t fear loneliness customers, stay in tune to what is Although it seems contradictory happening in the market so you to the previous point, the truth is can make better decisions. that many times you will feel alone at the start. Especially when you must make decisions regarding Search for opportunities your business. Do not be afraid of The opportunity to start a these moments and understand business will not come along on that they are part of the learning its own. You must go out, and talk process. to everyone about your project, and the vision you have. This way you will get the feedback to Learn from your mistakes continue shaping it and, also, you Nothing is perfect and everything start to attract attention to your doesn’t always go as planned. business.

You will learn the most from your failures because they will force you to face them and overcome them. Strengthen yourself during When something goes wrong, difficulties don’t be discouraged and focus on Every business will have good finding a solution. times and bad times. Enjoy the former and learn from the latter.

Don’t let your ego get in the way Having a problem does not mean The mistakes and successes of a that it will be the end of the road, work team belong to everyone, not it just means that you must gather just one person. When the goals your strength to gain momentum are met, recognize each member’s and start again. role. This will strengthen your team’s bond and help you have loyal partners.

Help others Just as you will need help, there Learn to save are other entrepreneurs who Even when you start to make a require the experience of others. good profit, value every penny, If you can help them, do it. Build and don’t spend without planning. and strengthen relationships Later you might need that money because you may need them in to face difficulties in the company the future. or on a personal level.

Dare to experiment Perhaps you may have an idea of what you want to achieve and how to achieve it. But that first plan is not always profitable. Have the courage to leave your comfort zone

Learn these tips that you will value if you start a business in your 20s. They will help you succeed as an entrepreneur and gain the experience you need to keep your business afloat.

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