Hector Barreto - Entrepreneurship and Immigrants
Hecker Baretto grew up an entrepreneurial immigrant family that believed in hard work. His father even had him in his quote. Unquote executive training program which early on consisted of waiting tables in the family restaurant, and that training must have taken hold because that zeal for hard work carried through Hector's life. He eventually headed up the small business administration and the Bush administration from two thousand one to thousand and five, and now serves as chairman of the Latino coalition and through those life experiences. Hector has remained grounded in thinking. Thinking of America the land of opportunity, it is like no other country in the world. There's something very very special. We should never take that for granted for those of us that opportunity travel we. We understand that we have something really really special here, and we should always serve to protect it. We'll discuss entrepreneurship and the policies that encourage it and hector shares what he's learned about the Latino community throughout his career I mean Andrew Kaufman, and this is the strategic presented by the George Bush Presidential Center. This conversation was recorded earlier this year in person at the Bush Center. Welcomed or guest today, Hector Baretto Hector form headed up the United States. Small Business Administration today. He's the chairman of the Latino Coalition. Thanks for waking up early with us. Do this actor thank you in our Co host Laura Collins, once again. Welcome back, Laura. She's the director in the Bush. Institute smu Economic Growth Initiative thank you. Thank Santa I. Only wake up early for this I know we. To Peel back the curtain we're here at about seven thirty in the morning in Dallas and Lauren I were comparing notes and turns out that one of us are morning. People so hector. We're looking. We're looking at you. Demand on. West Coast time. It's like five thirty in your body clock Oh. That's rough. Hector's here for our SME Economic Growth Advisory Council where he is one of them. Is that help guide the policy work that we do at the Bush Institute, because both of his expertise is the forty first administrator, the small business, and because his work with the Latino Coalition. Let's start with the former when you were with the small business administration. What was the goal of that department? What were you? You, all working on the small business. Administration was actually started in one, thousand, nine, hundred, fifty, three by President Eisenhower and there were some small business programs before that, but they unified those all into one agency, and it's really the agency that supports and advocates for America's small businesses, and that role has become even more important over the years when they formed the SBA. There probably weren't thinking that was going to be over thirty million small businesses in the united. United States and I like to say nothing small about small business. They really are the engine of America, the engine that fuels the economy of America not only are there a lot of them, but they represent over fifty two percent of the gross output of the economy. It's the place that two-thirds the net new jobs of our economy comes from, and it's also the place that a lot of our innovation comes from. That makes us the envy of the world. World in terms of our economy so very very important agency. A lot of people have heard of it, but they oftentimes don't know everything it does. Where does your passion for Small Business? Come from a well? That's easy. I was fortunate to be born into an entrepreneurial family, so the first business owners I ever met where my mother and father and my father was especially a serial entrepreneur. He loved business. He loves starting businesses. I'm not saying he loved running. My mother ran the business ideas, man yeah, but I learned a lot about a small business I used to joke that everything I learned about business. I learned in a Mexican restaurant because that's why I worked when I was a little kid. What jobs is you? Hold with your parents Oh, a lot of them, you know we were an immigrant family and. There was five children. My mother had five children six years. I have four younger sisters, and so we were all recruited to my father's executive training program very early on, so we all had to work I remember waiting tables when I was nine years old. So And then I. as I got older, I got more responsibility and help run some of those businesses and start some of those businesses, and my father had a number of different businesses. We started off with the restaurant business, because that's an easy business to access, but then later on at a little import export business, a little construction business, none of those businesses wherever really large, but they were very important to our family helps support us. They helped educate, and we learned a lot about being in business and working with the community and customers, and so your father came to America start these businesses. He actually didn't. My father was an immigrant to the United States in the late nineteen fifties. I don't think he was planning on staying that long. But he met my mother. My mother is also from immigrant parents from Mexico they've shown love, and and of all places they started their journey in Kansas City Missouri that's where I was born. I grew up in Kansas City Missouri and my father. He had a lot of different jobs as a lot of immigrants do when they first get here.