Hispanic Heritage Month: The State of Latinx Entrepreneurship

Written By: Andrea Sanchez-Mendoza ​​​

In the United States, Hispanic Heritage Month takes place every September 15 to October 15. This month is a time to celebrate and recognize the Hispanic community in the United States. You can contribute to a Latinx organization, volunteer, or support Latinx-owned small businesses this month to celebrate Hispanic Heritage Month. At Represented Foundation, we are proud of our history of entrepreneurship, and this month we are proud to highlight the contributions Latinos have made to our economy as business owners.

According to the State of Latino Entrepreneurship 2020 Research Report, “Latinos are starting businesses at a faster rate than the national average across almost all industries. The number of Latino-owned employer businesses has grown by 14% between 2012 to 2017, over twice of the U.S. average of 6%. Additionally, the number of employer Latino-owned employer businesses grew across 44 out of 50 U.S. states.” 

Latinx entrepreneurs are growing, but the real problem that has been revealed in this study is that these small businesses start small and remain small. While putting up a fight against systemic racism, Latinx entrepreneurs have a hard time scaling and growing their businesses. Despite limited opportunities, and resources Latinos still manage to open more small businesses than anyone else. ​​

As a Latina I am so proud that this month has shown the world that Latinos are more than the stereotypes placed upon us. The American dream is often the goal of many Latinx entrepreneurs who cross the border. I believe that every Latinx has the spirit of an entrepreneur inside them that is embodied by watching their family work odd jobs to make ends meet as a child. Among Latinos, entrepreneurship is valued, because they are aware of the sacrifices they have made and the hard work they put in every day to provide for their families.

A part of Hispanic Heritage Month, I encourage you to support Latinx-owned small businesses, street vendors, and our V.E.R. alumni-run Latinx and Afro-Latinx businesses like “I Matter/Tengo Poder”, “Bodega Legal”, “First Tech Fund”, and “Brown Girl Recovery”.  Read to find out more about these on our Instagram.