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Spanish Black Belt Speaks to American University “Kogod” MBAs

April 7, 2004, Washington, DC —Hispanics are More and More Important to the Economy

As the fastest growing demographic in the U.S., Hispanics are an increasingly powerful economic force and their purchasing power is keeping pace with the population. Disposable income leapt to $652 billion last year, a 29% increase over 2001. Latinos are also entrepreneurial. There are 30% more Latino business owners now than in 1998. Resources like these make it well worth doing business with Hispanics, but it takes understanding and sensitivity to differing culture and customs to close the deal.

Exploring a New Market

To learn about breaking into business with Latinos, the Kogod International Business Association hosted keynote speaker Nicolás Canales, Manager of Spanish Black Belt at American University on April 7, 2004. Spanish Black Belt is a private tutoring firm that offers customized programs for rapid language proficiency. Canales shared insights into working with and marketing to Latin Americans in the U.S. and abroad including tips on everything from how to get past the receptionist and make introductions to appropriate dress and dining etiquette.

Canales, a native Peruvian, emphasized the importance of friends and family in Hispanic culture and especially the business world. He explained that in a society where connections are often the best credentials, being able to network effectively is critical to successful business ventures. Since 78% of U.S. Latinos speak Spanish, even if they are also fluent in English, speaking Spanish and understanding the culture are huge advantages in tapping this expanding market.

Learning for Long-Term Return

While two-thirds of U.S. Hispanics know English, the steady stream of new immigrants, around 400,000 a year, is expected to keep the primarily Spanish speaking, foreign born population at one-third of Hispanics for several decades. Learning to communicate now will pay off for years in new opportunities for business, travel and friendship.

About Spanish Black Belt

Spanish Black Belt specializes in high-powered tutoring programs that rapidly develop language skills and cultural background for success in the business environment, academia, travel and entertainment.

Contacts at Spanish Black Belt

Customer Satisfaction Assurance
Mr. Nicolás Canales
Tel: (202) 558-5218
http://www.spanishblackbelt.com

Development Coordinator
Mr. Santiago Anria
Tel: (202) 558-5218
http://www.spanishblackbelt.com

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