All posts by LosAdmin

Women Working for (Fair) Wages

Employment, , , , ,

At the end of last month, a group of women from a wide variety of industries got together at the ‘Women’s Rising’ conference to brainstorm ideas on how African American women can try to overcome inequality and discrimination in the workforce. The event – subtitled Organizing Power for the Achievement of Racial Justice and Economic Equity,’ – was sponsored by the Holman United Methodist Church.

Discussions centered around equality in business, community organization, education, law, medicine, politics and spirituality. Anything that is integral to the stabilization of families and community revitalization was on the agenda.

Keynote remarks were delivered by the General Commission of the United Methodist Church’s General Secretary, Erin Hawkins as well as Charles Drew University Medicine College’s Dean, Dr. Deborah Prothrow Stith. Other names integral to the event were: , general manager of the Los Angeles Economic and Work Development Department, Jan Perry; the LA Business Licensing Commission President, Renee L. Campbell; CEO and President of The Hamilton Enterprise, as well as Civil Rights Advocate, Juanita Hamilton among others.

Personal stories and aspirations were shared as well as tips on how to overcome prejudice and assert needs and rights. All in all it was an extremely productive and positive experience.

LA: Optimistic Economic Report

Economy,

Good news was recently reported through LinkedIn LA data on hiring rates from March this year to that of last year. Faster hiring rates have been noted – 2.2 percent year-on-year. This data was cleaned from LA LinkedIn profiles which changed employer names over the last month.

LinkedIn Manager of Corporate Communications Joseph Roulades who engineered the report noted that the skills that are lacking most in the region to be system management and IT infrastructure. There are also more people with business development, database management, health care management, HR, nursing, sales, software and teaching that are needed to full job vacancies in the area.

Over the last year, a lot of people new to the employment market in LA came from New York. Next up was Chicago and Boston. Those that left went to the Bay Area, Las Vegas and Seattle.

LA: Starting a New Enterprise

News, , , , ,

Los Angeles might just be a great place for owners of small businesses to begin their new enterprise.  They are privy to a huge network of entrepreneurs, great talent and skill from top colleges like UCLA, USC, and a staggering 45 million of visiting consumers every single year.

Rather than being deterred by the high cost of living there, connections between the local community and budding entrepreneurs are now being formed with the help of SoCal founders. In addition, funding has been provided by IdeaLab, MuckerLab and Science Inc., as well as mentoring and establishing connections.

LA breeds a ton of creative talent.  Hollywood anyway is a meeting place for the entertainment world and thus talent in this industry is diverse with a slew of eclectic individuals.  There have been many success stories in LA including Light My Fire (boutique retailer selling over 1,000 types of hot sauce), offering locals a totally unique experience.

Another thing LA has going for it is the fact that its population is not contained in one urban cure (like NYC and Chicago).  Indeed, the City of Los Angeles spans more than 503 square miles and in this space are contained very diverse individuals, communities and lifestyles.  That makes it easier for burgeoning entrepreneurs looking to start a business too.

So entrepreneurs should start thinking about starting their next venture in sunny LA!

LA: Great Startup Location

Economy, ,

According to recent findings from the Economic Innovation Group (EIG), Los Angeles (along with Dallas, Houston, New York and Miami) are where 50% of all new business start-ups exist nationwide.

However, given this finding, it is greatly surprising that so few Americans are willing to relocate.  If these cities have such great potential, why are more people not heading toward them in search of a good job?

Another strange phenomenon is that the leading region – Orange County which is actually at the top of the list – has such a high standard of living.

Indeed, the numbers speak for themselves.  According to the EIG from 2010 to 2014, the largest number of any metropolitan region in America was Los Angeles-Long Beach-Anaheim which generated a yearly average of 21,870 business startups.

According to one founding EIG member (who is also a co-founder of Aspiration.com), Joe Sanberg: “Los Angeles has one of the strongest dynamism rates in the nation as more startups are forming than businesses are closing.”  And in other areas, this has not been the case at all with long-term “uneven recovery” causing a smaller amount of Americans to witness economic growth come back to their communities.

Sidewalk Vending Permits

Infrastructure,

In this video from the LA City Council, are recommendations for council action vis-à-vis the Public Works and Gang Reduction Committee in to nearby businesses and how they are impacted by the issuant of sidewalk vending permits. Recommendations included a two-tiered penalty structure, with higher penalties for vending without a permit, and less severe ones for vending in violation of permit conditions.

LA and the Enhanced Economic Immigration Factor

Economy,

According to a recent study undertaken by the City of Los Angeles, the Los Angeles Area Chamber of Commerce, and the nonprofit New American Economy over a third of the America’s GDP is generated by immigrants.  At the same time The New Americans in Los Angeles study found that they account for over 50% of the self-employed workers in LA. Other figures from the study found that in 2014, LA County foreign-born residents generated almost $233 billion in economic activity which comprised 35 percent of LA’s $653 billion GDP.

Other benefits LA County is reaping from the foreign immigrants was the recorded amount they paid for federal, local and state taxes in 2014 which accounted for over $25 billion.  In addition, their spending power weighed in at $70 billion and their businesses generated $7.2 billion. Furthermore, immigrants in LA make up 53 percent of the self-employed workers.

Meanwhile, a recent report put out by the LA County Economic Development Corporation found that the Asian community in Southern California is enjoying “significant economic power.”  With over 1.4 million Asians living in the region (a mere 14.5 percent of the population), this demographic’s economic power is disproportionately higher than its size.  The findings showed that the median household income for the 489,175 Asians in LA was $70,440, substantially higher than LA’s overall median of $59,135. In addition, it was discovered that their annual expenses on basics like food, clothing and housing was lower than that of the average population.

Sherman Oaks Residents: Get With the (Tax) Program!

Ally Lucky Penny, Taxes, ,

That is, if you want to save $$$ that is rightly yours!  There are many LA homeowners who are not getting tax exemptions because they are not applying. And this is resulting in – for about 400,000 homeowners – an approximate loss of $70 per annum on property taxes.

As a result, the city council is seeking to pass on this information to taxpayers with a declaration of January being ‘Homeowners’ Exemption Month’ by the Board of Supervisors.  Within a decade this $70 exemption reaches $700 which is about how much a water heater costs.

And in other money-saving/money-making tips in the area, Los Angelenos are invited to seek out the handful of fake pennies that have been scattered around since each one is worth $1,000!

As part of its bank campaign (reiterating the importance of valuing every cent and looking for opportunities to save money), 100 coins with a redemption code on the tail of each Ally Lucky Penny is to be uploaded on the AllyLuckyPenny.com website for verification purposes.  Just look out for Ally Bank’s logo in the place where Abraham Lincoln’s chest usually is and you’ve found a coin. This program is also happening in 9 other cities nationwide.

Business is Booming for LA’s Airbnb

News, , , ,

Airbnb is big in LA and getting bigger.  In a recent pilot program, at the end of last year, the company set up its Trips platform, which moved it into the indie fashion community industry, expanding its services to facilitate and suggest local spots for travelers to visit. Trips will also ultimately add flights and other services.

So what does that mean for LA?  Coordinating with designer Jill Aiko Yee and Jordana Howard of Echo + Air with a weekend trip entitled ‘The Cutting Edge.’  The two day experience will happen next month and via this programming, there comes a whole slew of various facets in the local fashion industry.

As Yee explained:

“The main thing that Jordana and I want to do is welcome people to the fashion design process and let them know it’s really thriving and growing We just think for fashion in Los Angeles to grow, we need to put a face to it. We want to help get the word out that there’s quality happening in Los Angeles and that there’s ethical production here. Jordana and I really care about the independent design community that’s happening in Los Angeles.  We think it’s rich. We wanted to build a program around what was specific to Los Angeles, specific to local production and eco-friendly production.”

Howard and Airbnb met up at a crafting event at which Howard was asked to create a tour for the firm centered around her own personal interests and lifestyle.  With Yee she has worked on the Open Saturdays small boutique market in downtown LA among various other design events.

This move by Airbnb will likely boost LA’s position on the global fashion market since until now, most consider NY to be the venue.   As JM International Group John Marshall noted, LA does have a ton of up-and-coming designers which he believes is not just restricted to a passing phase.

 

LA Job Creation

Employment, , ,

A lot will change for LA should it win its 2024 Olympic Games bid.  Economically the city’s output would be incredibly impacted – in a positive way.  Various studies have been established to ascertain the potential economic impact such as those by the organizing committee, Los Angeles 2024, Beacon Economics LLC and the UC Riverside School of Business Center for Economic Forecasting and Development. Other research has found that close to 80,000 jobs and anywhere potentially $160 million or more in additional tax revenues.  Furthermore, the city’s economic output could be as much as $11.2 billion.

According to Beacon Economics founding partner and UC Riverside Center Director Christopher Thornberg:

“There is little doubt that hosting the Olympics is an enormous boost for a local economy — both in the short term as driven by activity surrounding the events themselves, and in the long term, given how these events raise the global profile of the region. The worry is always that these benefits come at too high a cost, but because Los Angeles already has many of the assets needed for a successful Olympic experience the upside is far greater than it would be for many other cities who would be hosting for the first time.”

Meanwhile a couple of weeks ago, the South LA area encountered the commencement of a new job training program.  This will likely get around 900 unemployed/underemployed residents ready to work The Reef – a mixed-use high-rise. According to Noreen McClendon, executive director of Concerned Citizens of South Central Los Angeles, this marks “an opportunity for us to lift a lot of people out of poverty, with all this concentration of projects in the Ninth District in the next few years.  The tragedy is that our community has been conditioned to believe that there are no opportunities.  We have a lot of people who have criminal backgrounds, and they’re told over and over again that once you have a felony, you can’t get employment.”  Alongside of this is a five week Boot Camp to prepare those who want to get a job with The Reef teaching job etiquette, fiscal responsibility and other fundamental skills.  With this new project, comes an opportunity to train around 1,000 low-income individuals living in the Ninth District to work in construction; a great opportunity for future employment in this thriving industry as well.