What Are the Best Resources for Starting A Business That Caters To Hispanic Citizens?

Diversity

In the past decade, the number of Hispanic business owners in the US has grown by 34% and contributing to more than $700 billion to the US economy every year. Even with positive statistics, most Hispanic businesses face challenges as startups due to many reasons. Inc cites less financial access as the major problem for many Hispanic startups in the US.

There are several resources that cater to Hispanic citizens and their businesses to help them grow and expand. Here are some of the best resources, organizations, government agencies, and programs that cater to Hispanic business owners.

Latino Business Action Network (LBAN)

Based in San Jose, California, Latino Business Action Network partners with Stanford University to fund Hispanic entrepreneurial programs through research, education, and networking.

LBAN teaches entrepreneurs on wealth-related topics and mentorship. This nonprofit organization has supported over 600 graduates through the Stanford Latino Entrepreneurship Initiative Education Scaling Program that has even employed over 30,000 Hispanic people in their businesses.

United States Hispanic Chamber Of Commerce (USHCC)

The United States Hispanic Chamber of Commerce promotes the economic development of over 4.37 million Hispanic Owned businesses that actively contribute over $700 billion to the US economy each year.

The USHCC offers grant programs, training, and networking with over 260 corporate partners in the Hispanic Business Enterprises. Its convention is the largest venue for Hispanic businesses in America to network.

Mi Dinero, Mi Futuro (My Money, My Future)

This is an online resource for Hispanic people to gain financial knowledge and build their wealth. It provides free budgeting tools and financial advice. If you are just a starter and worried about taking your first leap of faith, this is the best place to begin.

Immigrant Business and Immigrant Learning Center (ILC)

These are two different organizations for immigrants, helping in different aspects.

Immigrant Business share successful and inspiring stories and other news about immigration. They also offer tips on selling and winning government contracts from successful immigrant entrepreneurs.

Immigrant Learning Center offers English classes, research, and informs the immigrants about the economic and social contributions of immigrants.

Minority Business Development Agency

The Minority Business Development Agency is a branch of the US Department of Commerce. It has been supporting minority-owned businesses in America since 1969.

It helps minority business owners with financial assistance and contracts to support their businesses.

Small Business Administration

Run by famous Latina business executive Maria Contreas-Sweet, the Small Business Administration provides very useful resources for small Hispanic business owners since the 1950s. SBA has an online learning center that offers more than 50 courses, with additional resources on how to start and manage a business.

Fundera

Fundera provides the connection for small business owners with resources on loans and financial assistance. If you want to maximize your financial knowledge, Fundera has a blog “Fundera Ledger” to help you in your quest.

Conclusion

With all these and more useful resources for your Hispanic Business in the US, you can easily make your first step in the entrepreneurial world with enough financial assistance and knowledge that you need.


San Francisco Bay Area Hispanic Business

Sanfrancisco

As the number of Latino entrepreneurs is on the rise in America, the Bay area is one of the towns leading the way with a top Latino company hitting more than $161 million in revenues. San Francisco would not have been so magical without the Spanish community who makes up 15% of its population. This population has influenced the city’s culture, food, and music. Check out these Latino-owned businesses in the Bay Area, what they are about, and support them during the pandemic that has hit them hard.

Classy Carpet And Rug Cleaning Service

Based in Pleasanton, the motivation behind Classy Carpet and Rug Cleaning Service is to give clients a healthy home to live in with no odor, allergy, and stains. Services offered include residential and commercial carpet cleaning, area rug cleaning, emergency cleaning services, and office cleaning. Areas serviced include Pleasanton, Dublin, Livermore, San Ramon, and Danville in California.

Artillery Apparel Gallery

Artillery Apparel Gallery is co-owned by Ivan and Alexa.

Founded in 2009 with a mission to connect the Latino community through nature, and culture, Artillery Apparel gallery specializes in art such as paints, photography, and ceramics.

Evolved Sf

Evolved Sf is a clothing store and an art gallery located on 24th street. Founded and co-owned by Thalia Leon and Fernando Ramirez, this multimedia studio aims to support other people while it pursues art and graphic design. The business is opened every Tuesday to Saturday from 3 pm to 7 pm. Follow Evolved Sf on Instagram here to stay updated on their latest products.

Mixcoatl

Since 2004, Connie Rivera and Ricardo Pena have operated this shop on 24th street, dealing with jewelry, beadwork, embroidery, and many forms of art. They were also operating another branch they opened down the street in 2017, but the Coronavirus forced them to shut its doors.

Loló

Lolo is a restaurant along Valencia street, most popular for its attractive decor, cocktails, and Jaliscan-inspired cuisine. Whether you are just ordering a glass of wine, or the infamous tacos tropical, this place feels like a vacation. Because of the pandemic, you cannot enjoy your meal in the restaurant, they are open for takeaway food and deliveries.

La Palma Mexicatessen

La Palma is known for making the best tortillas in San Francisco. They also make spicy cheeses, snacks, and more. You can also find the much needed culinary ingredients for your home use. They are currently operating with outdoor tables and takeouts only.

Tacos El Patron

Taco El Patron is San Francisco’s favorite go-to place for sweet and Jalisco-style tacos. They are still open and attend to their customers during the pandemic and have even managed to expand and open another restaurant the Los Guisados Del Patron, which specifically caters to Mexico City-style Guisados.

El Metate

El Mitate is San Francisco’s top choice restaurant for a burrito. They are always on top due to their well-balanced and filed fresh ingredients they use. They are open for pickup and deliveries.


Top 5 California Based Hispanic Entrepreneurs

Entrepreneur

According to the U.S Census Bureau, 1 out of 6 Americans is Hispanic. The number is expected to rise to 1 in every 3 by 2060. Hispanic owned businesses are also having a 40% growth rate, with the number of Hispanic entrepreneurs also on the rise.

With the immigrants being twice as likely to venture into entrepreneurship compared to the native-born Americans, it is not surprising to see the failure rates of Hispanic owned startups being high. But there have been significant stories too allover America including California. This article list the top five California-based Hispanic Entrepreneurs that have notable success stories away from home.

Maria Contreras-Sweet, Founder Of ProAmerica Bank

The former Administrator of the US Small Business Administration worked for the speaker of the California Assembly before Launching ProAmerica bank, the first Latino owned commercial bank in America for over 35 years. The bank now has a market cap of $4.5 million.

Maria also founded Contreras-Sweet Enterprises, a marketing and research firm that serves notable clients such as The Coca-Cola Company, Pacific Gas, and Walt Disney Company. She is currently a board member of the Regional Management Corp and Sempra Energy.

Geisha Williams

He is the CEO and President of PG&E leads. It is one of the largest natural gas and electric energy company in the United States. The company has employed more than 20,000 people and serves Nothern and Central California with the cleanest energy.

Dawn C. Valdivia

Valdivia is the chair of the Quarles & Brady’s Labor and Employment Group in Phoenix. Her work is to advise clients on issues related to labor and employment law. The company is also based in Arizona and California. Valdivia is committed to providing creative solutions to her clients and giving back to the community.

Martha de la Torre

Martha is the founder of El Clasificado, an LA-based company that she established in 1988. The company has grown over the years due to its strengthened relationship with the Latino population in California.

Her business website, ElClasificado.com received 25 million monthly visitors and the business distributes half a million print copies every week. El Clasificado is a multi-media company that provides advertising solutions in print, online, and at events.

Jordi Munoz, founder of 3D Robotics

In 2007, Munoz hacked the sensors on the controller of his Nintendo Wii and wrote some codes. As a result, the first autopilot drone was invented. He uploaded the video on Chris Anderson’s blog, “DIY Drones.”

Chris was so impressed that he sent Munoz $500 to support his work. Munoz used the funds to buy equipment and set up an online shop where he sold the drone to the fans.

In 2009, the two founded 3D robotics which made $5 million revenue by 2011 when they met face to face for the first time. It has now raised more than $90 million in venture capital and has more than 180 employees in North America, servicing over 30,000 clients.