LEDC: A business-support 'hospital' for the Latino community

LEDC: A business-support 'hospital' for the Latino community

For more than 20 years, the Latino Economic Development Center has offered support for entrepreneurs to launch and grow their businesses.

With a special focus on Latino entrepreneurship, the Latino Economic Development Center (LEDC) offers a range of advising through Elevate Hennepin, Hennepin County's business-support initiative, including business strategy, certification, access to capital, and focused guidance for idea-stage entrepreneurs.

Alejandra Cooper, front desk coordinator at the organization and the first point of contact for Elevate Hennepin advisees, likens the organization to a business-support hospital.

"I'm like the nurse—when people come in, I take their pressure, ask questions, and prepare them for the doctors," she said.

Those "doctors" are the business-development team, which provides custom advising and technical assistance. Rico Duran, business development director at LEDC, said when his team takes over, the goal is to move the client to the next stage.

If someone has an idea to sell empanadas, for example, Rico said advisors check off the tasks necessary to get started.

"First, you need the business plan, that’s where we start. Then, we know you need a business registration, marketing. From there, you might need legal assistance and so forth," said Rico. "After that, we have a menu of support for creating what you produce, and what your operations will look like. That moves into budgets or what kind of equipment you need or licensing and all that."

Having process-minded experts on staff is especially helpful for LEDC’s large base of immigrant clients, many of whom are building a business for the first time. Sometimes, the support is protecting eager entrepreneurs from pitfalls.

One example he highlighted involved a couple that was about to purchase a restaurant. They had already paid someone $6,500 without a receipt and were being pressured to sign a contract without legal review. Rico said predatory arrangements are all too common among immigrant entrepreneurs who might not understand that they are being taken advantage of.

Rico intervened, recovered their money, and connected them with legal and financial resources.

"Once we saved them, we started the process the right way," he said. "Now they're on track—with a business plan, proper licensing, and capital support. This is how we empower them by providing expertise and resources to help them succeed."

Through Elevate Hennepin, LEDC provides not just technical assistance, but a trusted, culturally informed group of business advisors committed to long-term success.

As Alejandra puts it, "Sometimes people just need someone to teach them what they don’t know. That’s how we help them avoid mistakes—and build something lasting."