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“Liberty Power, the first and only national, minority-owned retail power provider, today announced that CEO David Hernandez, winner of the 2005 Hispanic Business magazine Entrepreneur of the Year award, will participate in the 2006 event by moderating “Dream it – Be it,” a panel of this year’s 15 CEO finalists for the 2006 award. Hernandez will lead the panel in a discussion around the challenges faced by new businesses in locating start-up capital, managing financial resources, and navigating successful growth.
The event, arranged by Hispanic Business magazine, brings together the country’s top Hispanic CEOs to share their experiences in obtaining equity financing to fuel their business. No area of business development has been more challenging to Hispanic-owned businesses than financing growth. Hernandez will share his experience in launching Liberty Power during an economic downturn and later growing the company to revenues of more than $100 million in less than four years.
“The environment in which Hispanic businesspeople compete is filled with challenges,” Hernandez said. “The Entrepreneur of the Year award recognizes that some of the best business success stories stem from an idea that others thought would never succeed. I started Liberty Power in my living room during an economic recession. We are now a $100 million company and the fastest growing energy supplier in the country.”
Hernandez will share his own experiences as a small business owner, launching Liberty Power after the fall of Enron and while the country was still recovering from the attacks on September 11, 2001. Hernandez saw an opportunity to sell low-cost energy to the underserved small to mid-sized business market. The company began selling power door to door in New York City and has since expanded into Texas, Maryland and the District of Columbia. Liberty Power now supplies electricity to more than 20,000 small and medium-sized businesses.
During the annual event, Hernandez will also present the Winner’s Circle scholarship in the amount of $1,500 from Liberty Power and Hispanic Business magazine to a college student who demonstrates leadership, community involvement and the entrepreneurial spirit.”
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