Hartford Business Journal Special Editions

Lifetime Achievement Awards — June 3, 2019

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www.HartfordBusiness.com • June 3, 2019 • Hartford Business Journal 3 Newsmakers EDITORIAL Greg Bordonaro | Editor, ext. 139, gbordonaro@HartfordBusiness.com Gregory Seay | News Editor, ext. 144, gseay@HartfordBusiness.com Matt Pilon | News Editor, ext. 143, mpilon@HartfordBusiness.com Sean Teehan | Staff Writer, ext 145, steehan@hartfordbusiness.com Joe Cooper | Web Editor, ext. 127, jcooper@HartfordBusiness.com Stephanie Meagher | Research Director Heide Martin | Research Assistant Steve Laschever | Photographer BUSINESS Christopher Santilli | Publisher, ext. 124, csantilli@HartfordBusiness.com Donna Collins | Associate Publisher, ext. 121, dcollins@HartfordBusiness.com Lauren Stroud | Events & Project Manager, ext. 137, lstroud@HartfordBusiness.com Christina Zuraw | Events Coordinator, ext. 134, czuraw@hartfordbusiness.com Shannon Vincelette | HBJ Office and Events Coordinator, ext. 122, svincelette@hartfordbusiness.com David Hartley | Sr. Accounts Manager, ext. 130, dhartley@HartfordBusiness.com Kristen P. Nickerson | Sr. Accounts Manager, ext. 133, knickerson@HartfordBusiness.com Raki Zwiebel | Credit and Collections Manager Valerie Clark | Accounting Assistant/Office Manager Jill Coran | Human Resources Manager PRODUCTION Christopher Wallace | Art Director, ext. 147, cwallace@HartfordBusiness.com Liz Saltzman | Creative Director, ext. 140, lsaltzman@HartfordBusiness.com Peter Stanton | CEO, pstanton@nebusinessmedia.com Joseph Zwiebel | President, ext. 132, jzwiebel@HartfordBusiness.com Mary Rogers | COO/CFO, mrogers@nebusinessmedia.com SUBSCRIPTIONS: Annual subscriptions are $84.95. To subscribe, visit HartfordBusiness.com, email hartfordbusiness@cambeywest.com, or call (845) 267-3008. ADVERTISING: For advertising information, please call (860) 236-9998.Please address all correspondence to: Hartford Business Journal, 15 Lewis Street, Suite 200, Hart ford CT 06103. NEWS DEPARTMENT: If you have a news item: Call us at (860) 236-9998, fax us at (860) 570-2493, or e-mail us at news@HartfordBusiness.com. Hartford Business Journal accepts no responsibility for unsolicited manuscripts or materials and in general does not return them to the sender. Hartford Business Journal (ISSN 1083-5245) is published weekly, 49x per year - including two special issues in November and December — by new England Business Media, LLC, 15 Lewis Street, Suite 200, Hartford, CT 06103. Periodicals postage paid at Hartford, CT and at additional entry points. Tel: (860) 236-9998 • Fax (860) 570-2493 Copyright 2019. All rights reserved. Postmaster: Please send address changes to: Hartford Business Journal P.O. Box 330, Congers, NY 10920-9894 www.copyright.com HartfordBusiness.com (860) 236-9998 Art Feltman | Co-founder, One World Market By Sean Teehan steehan@hartfordbusiness.com A s Hartford gets into the swing of summer, the Old State House plaza will for the first time host One World Market, an interna- tional food court and entertainment space open for the season. The market, which first opened in the summer of 2015, is run by nonprofit International Hart- ford, which was co-founded by Art Feltman with the goal of stimulating the local economy and promoting immigrant businesses. Operating Wednesdays outside Hartford Hospital and Thursdays at the Old State House, the outdoor food court serves as an incubator for eight fledgling immigrant entrepreneurs who will showcase their cuisine, Feltman said. Vendors include Munchers, East-West Grille on Wheels, Rockin' Chicken, Bombay Olive, Samba Cuisine, Naturally Smooth and 2YourHealth. "The immigrant sector of our economy is highly dynamic," Feltman said. "Immigrants are twice as likely as native-born Americans to start business- es, and startups yield 40 percent of new jobs. They are a powerful engine of economic growth." What is the biggest misconception about refu- gees and other immigrants in business? The biggest economic misconception about immigrants and refugees is that they depend on government largesse. In fact, it's the opposite. Refugees, for example, get six months of help before being cut off. Immigrants who aren't perma- nent residents aren't entitled to any help. It's sink or swim for them, just as it was for my ancestors. How prevalent are immigrant-owned business- es in Greater Hartford? As of 2012, close to 7 percent of the city's foreign-born adults own businesses, nearly twice the rate of native-born city residents. On average, urban entrepreneurs earn more: in- corporated business owners make 40 percent more than city residents who work for others. In metro Hartford, immigrant entrepreneurs drive nearly all net commercial growth on suburban Main Streets and on cities' neighborhood arteries. Although Hartford immigrants are more entre- preneurial than native-born residents, they still underperform the 10.5 percent national immi- grant business ownership rate. Cities that invest in immigrant entrepreneur- ship — like New York, Philadelphia, Minneapolis — push their immigrant business ownership rates well into the double digits, creating jobs, removing blight, paying taxes and buying from local suppliers. What resources are the most challenging for entrepreneurial immigrants to find? One of two barriers most foreign-born en- trepreneurs face is lack of financial resources. They've come to build up savings, and are work- ing multiple minimum-wage jobs. Lenders tell them to borrow equity from "friends and family," but their friends and family are recent arrivals, too, in the same position. Speaking 50 languages, they are challenged to fill out government forms — written in English — to get permits and make their business legal. Art Feltman PHOTO | CONTRIBUTED EVERY DAY 3,500 BUSINESS PROFESSIONALS START THEIR DAY ACTIVELY READING THE CT MORNING BLEND | GET CONNECTED ADVERTISING OPPORTUNITIES AVAILABLE TO FIND OUT MORE CALL 860-236-9998 OR EMAIL ADVERTISING@HARTFORDBUSINESS.COM BUSINESS.COM HARTFORD BUSINESS BUSINESS HARTFORD BUSINESS.COM BUSINESS.COM TODAY EVENTS HARTFORD BUSINESS.COM MORNING BLEND HEALTH CARE WEEKLY IN PRINT. ONLINE. IN PERSON

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