San Antonio, TX (PRWEB) October 31, 2007
While other college students are hitting the books or partying, Barron Perales is running a growing and profitable multimillion dollar business. He has achieved such a level of success that he was the only student from the Southwest Region of the US and one of only six students nationwide recognized by the Minority Business Development Agency (MBDA) as a young minority entrepreneur.
Two years ago, Perales was selected for the Emerging Business Leaders Summit (EBLS), created to recognize the achievements of students interested in entrepreneurship. EBLS, part of MBDA's Minority Enterprise Development (MED) Week, is an elite program for exceptional students, who must be nominated by their schools. Perales was selected to represent the University of Texas at San Antonio.
Perales stated, "A highlight of the week for me was meeting the U.S. Secretary of Commerce Carlos Gutierrez. He inspired me greatly because he came from a background similar to mine, and he encouraged me to move forward with my ideas. His words and his interest made a huge impression and motivated me."
After participating in MED Week, Perales bought an existing company--ITEX, a barter franchise--that had both problems and unrealized potential, then set about solving the problems and realizing the potential. Although he was the youngest broker in the ITEX system, he achieved outstanding success.
In his first year of operation, he increased business by $300,000, impacted the community with more than 2.3 million dollars in business, and achieved recognition as Rookie of the Year 2006. In his second year of operation, he increased the trade business to three million dollars per year, a new record for the company. Competing against 100 much more experienced brokers, he received the Three Million Dollar Award 2007 and the Circle of Excellence Award 2007 (an honor reserved for the top 10% performers in ITEX).
President George W. Bush proclaimed September 9-15, 2007 as Minority Enterprise Development (MED) Week. In honor of the Twenty-Fifth Anniversary of MED Week, MBDA recognized the accomplishments of six former EBLS students who are now successfully running their own enterprises. Perales and the five students representing other regions were honored at the National Minority Enterprise Development Week Conference in Washington, D.C.
"There were many memorable moments--the reception at the White House, the Awards Gala, numerous photo opportunities with influential people." Perales said. "The most memorable part of MED Week was being congratulated by name by CEOs of major corporations and key figures in our nation. I was honored as an up-and-coming business leader in the nation and the world. The award was a major stepping stone on my pathway to success."
Perales' accomplishments make him a role model and inspiration for young minority entrepreneurs in San Antonio and around the country.
703 E. Quincy St., San Antonio, TX 78215
Phone: 210.281.1111, Fax: 210.281.1113