Resources for Hispanic Small Business Owners

Powering Success: Resources for Hispanic Small Business Owners

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What can generate $800 billion in annual revenue and $2.8 trillion in economic output?

Is it the total of the U.S. television industry? Is it the collective might of the nation’s largest retailers? Or might it be the rolled-up contribution of the country’s biggest auto manufacturers?

Actually, the numbers represent the estimated annualized economic activity of the nation’s more than 5 million Hispanic-owned businesses, per the U.S. Department of the Treasury, and this is a big part of the U.S. economy.

Hispanic-owned businesses now represent nearly 15% of all U.S. businesses, underscoring how prevalent the category has become across virtually every possible business category. With Hispanic Heritage Month unfolding, it’s a timely moment to consider the breadth and reach of Latino-owned businesses across a range of categories. They are also a great example of bold and ingenious entrepreneurship.

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Important Hispanic Entrepreneurs
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Role of Digital Equity
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Factors When Choosing a Provider
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Hispanic Business Resource Websites

Important Hispanic Entrepreneurs

Duolingo: Using technology to teach millions a new language for free or at a fraction of the cost

Luis von Ahn is the co-founder and CEO of Duolingo, a language-learning platform that has revolutionized how people learn new languages. Originally from Guatemala, von Ahn started Duolingo to make language education accessible and affordable for everyone, paving the way for other Latino entrepreneurs. The company, which began as a small startup, has since grown into one of the most popular language-learning apps in the world, serving millions of users and transforming the education landscape.

WeAllGrow: a Women-owned business setting a great example

There’s Ana Flores, the founder and co-chairwoman of #WeAllGrow, a digital platform that empowers Hispanic women through content and community. Flores, raised in El Salvador, started with a modest blog and turned her passion for supporting Hispanic women into a thriving business. Her platform offers resources, networking opportunities, and advocacy for Hispanic female entrepreneurs and professionals and she has become a leading voice in empowering women in the Hispanic community.

Manny Medina’s Outreach: improves sales team´s performance

Another remarkable story is authored by Manny Medina, the founder and CEO of Outreach, a leading sales engagement platform designed to help sales teams improve their productivity and performance. Originally from Ecuador, Medina started Outreach as a small startup with a vision to transform the sales process through innovative technology. Under his leadership, the company has grown rapidly, securing significant investments and becoming a major player in the sales tech industry.

The Role of Connectivity in Business Success

As these examples attest, for growing businesses, robust and reliable Internet connectivity is a cornerstone element of success. To achieve growth, Hispanic entrepreneurs must adapt to the next generation of connectivity expectations and strive to stay ahead of the curve—just as Luis von Ahn, Ana Flores, and Manny Medina did. For each of these visionaries and millions of other budding business leaders, robust, dependable, always-on connectivity is foundational for engaging with customers, prospects, and business partners. This was especially true during the Pandemic, where the need for high-speed Internet connections and making businesses web-enabled meant life or death in both the economic and literal sense.

Which is precisely why we’re here. Business Services Connect is designed to help small business owners connect with the right Internet service providers and IT solutions tailored to their needs. Whether it’s high-speed Internet, cybersecurity solutions, technical support, or other digital tools, Business Services Connect helps Hispanic business owners identify best-in-class technology and services that support growth and innovation -- at a price that aligns with business needs.

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The Role of Digital Equity in Business Success

In order to achieve digital equity, everyone, regardless of their background or location, must have equal access to high-speed Internet and other important technologies and services, including Business Internet, Business Mobile, Business Television, Enterprise Network Solutions, and Business Phone. This not only encourages participation, but it also ensures all people have a fair shot at economic success, which is why it’s essential for Latino and Latina-owned businesses to partner with an ISP that enhances their ability to scale without holding them back.

By providing connections to Internet service providers, tailored support, and access to essential resources, Business Services Connect is here to help Hispanic small business owners build strong, lasting foundations and inspire the next generation of entrepreneurs in a diverse, thriving economy.

Factors to Consider When Choosing a Telecom Provider

When choosing a telecom provider, it’s important to find a company that understands who you are and what you need. When choosing the best provider, Hispanic business owners may consider:

Cultural Competence:
Your provider should understand and celebrate the unique needs of Hispanic-owned businesses.

Comprehensive Service Offerings:
Partner with providers that offer the services you need, when you need them. That includes managed services, Internet, phone, TV, and networking solutions that can scale with your business.

Community and Business Development Support:
Work with partners that actively support Latino entrepreneurship initiatives and community outreach.

Reliability and Customer Support:
Check reviews and testimonials for providers in your area to ensure they are reliable and dependable.

Pricing and Flexibility:
From short-term contracts to no contracts, consider providers that offer competitive pricing and flexible plans that can grow with you.

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Essential Websites for Hispanic Small Business Owners

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Along those same lines -- fostering business connectivity and community -- we’ve curated a selection of websites tailored to guide Hispanic entrepreneurs in accessing resources and forming partnerships that can help their businesses thrive. Here goes:

Hispanic Federation

Offers Internet access and digital skills training to 10,000 Latinx students and job seekers, enhancing career opportunities and economic mobility.

U.S. Hispanic Chamber of Commerce

A national organization dedicated to promoting the economic growth and development of Hispanic entrepreneurs. The Chamber provides resources, networking opportunities, and advocacy to support Hispanic-owned businesses across the United States.

Hispanic Heritage Foundation

A non-profit that identifies, inspires, prepares, and positions Latinx leaders in the classroom, community, and workforce to meet America's priorities. They offer various programs and resources to support Hispanic entrepreneurs and professionals.

Association of Latinos Professionals for America (ALPFA)

Dedicated to empowering Latinx professionals and advancing their careers in the workplace. Provides networking opportunities, professional development, and mentorship to Latinx individuals across various industries, as well as resources, events, and programs to support their growth and success.

Small Business Administration (SBA) Minority Business Development Agency (MBDA) Centers

While not exclusively focused on Hispanic-owned businesses, the SBA and MBDA offer various programs, resources, and funding opportunities specifically designed to support business growth in minority-owned businesses, including those owned by Hispanic entrepreneurs.

Latino Business Action Network (LBAN)

LBAN works in collaboration with Stanford University to provide Latinx entrepreneurs with educational programs, mentoring, and networking opportunities. Their goal is to help Latinx-owned businesses scale and grow through training, mentorship, and access to capital.

National Association of Latino Arts and Cultures (NALAC)

NALAC supports Latinx artists and cultural organizations, including small business owners in the creative sector, by providing grants, training, and advocacy to promote their growth and sustainability.‌

Stanford Latino Entrepreneurship Initiative

The Stanford Latino Entrepreneurship Initiative (SLEI) is a collaboration between Stanford University and the Latino Business Action Network, focused on research and education to support and advance Latino entrepreneurship in the U.S. Through its research program, SLEI conducts an annual national survey and curates a significant panel of Latino entrepreneurs to analyze and understand trends in Latino-owned businesses over time. The initiative aims to inform policy-making, foster business partnerships, and enhance knowledge through comprehensive research. Additionally, the SLEI Education Scaling Program offers a nine-week immersive experience for U.S. Latino business owners, providing them with the tools, mentorship, and networks necessary to scale their businesses effectively.

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There are also myriad local organizations that partner with Hispanic-led businesses and Latino nonprofits to provide financial support and tailored digital skills training. Initiatives like the programs listed below can deliver resources that make a difference in the growth trajectory of businesses like yours:

Comcast's Project UP

Comcast proudly partners with organizations and invests in programs that support Hispanic and Latino communities through Project UP, a comprehensive $1 billion initiative to advance digital equity and economic mobility for all. Across Comcast, NBCUniversal and Sky, Project UP connects people to the Internet; provides them with devices; and helps them build digital skills ─ opening doors for the next generation of innovators, entrepreneurs, storytellers, and creators.

Optimum Business and the LIA Foundation’s L.O.C.A.L. Small Business Grants

Provided $5,000 grants to small businesses across Long Island, NY, to support the growth and long-term success of the Hispanic business community. Winners have already been awarded for this program.

Cox Small Business Academy

Partners with higher education institutions and local organizations in multiple cities to provide resources and training specifically aimed at helping small businesses to grow and succeed. Minority and women small business owners are especially encouraged to apply.

Prospera

Formerly known as the Hispanic Business Initiative Fund, this non-profit organization provides bilingual assistance, grants, training, and access to financing to Hispanic small business owners in Florida, North Carolina, and Georgia.

National Hispanic Business Group (NHBG)

NHBG is dedicated to supporting Hispanic entrepreneurs in New York City and beyond. The organization provides networking opportunities, educational programs, and access to resources that help Hispanic-owned businesses succeed.

Venturize

A national initiative with a significant presence in Texas and California, Venturize provides Hispanic small business owners with access to educational resources, financing options, and advocacy tools. They aim to help entrepreneurs navigate the challenges of running a business, with a focus on underserved communities.

Latina Style Business Series

Organized by Latina Style magazine. Offers workshops, mentorship, and resources specifically aimed at Latina business owners, helping them to develop their business skills and access the tools they need to succeed. There is a significant presence in North Carolina, Colorado, Tennessee, Texas, and Florida.

State-specific Hispanic Chambers of Commerce and Economic Development Corporations

Additionally, Business Services Connect recommends that Hispanic small business owners look into their state’s Hispanic Chamber of Commerce and/or Hispanic or minority-based economic development corporation as multiple states and regions offer these organizations.

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