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Latino-owned businesses are a dynamic and growing portion of the U.S.; with more than 5 million firms driving $800 billion in revenue, they represent a huge opportunity for the U.S. In fact, the number of Latino-owned businesses is growing 10x faster than white-owned businesses. READ MORE AT LATINO BUSINESS ACTION NETWORK

In October 2023, the U.S. Department of the Treasury reported that roughly 5 million Latinx-owned businesses operated nationwide. These companies generate over $800 billion in annual revenue with an economic output of $2.8 trillion. 

That report also revealed that this share is growing. In 2021, almost 25 percent of the entrepreneurs behind new business applications were Latinx. And between 2019 and 2023, the share of self-employed Latinx workers across the country grew by 26 percent. READ MORE AT BANKRATE

Florida is a melting pot of cultures and for many it is an opportunity to seek a better life. It is no secret that the Hispanic and Latino community’s contributions to the U.S. economy have been nothing short of impactful. In fact, a 2022 study found that U.S. Latino economic output would rank 5th in the world's gross domestic product if U.S. Latinos were an independent country. READ MORE AT NBC 6 SOUTH FLORIDA

The holiday season is upon us and, amid the juggle of gatherings with family and friends, it’s always good to reach out to clients as well. Showing gratitude to your clients during the holidays is a great way to keep connections strong.

Many real estate leaders across the country express their appreciation through cards, gifts and events for their agents, clients, neighbors and communities. They spread joy through their gestures large and small and provide community support where they can.

Here are what some brokers and brokerages are doing to reach out this holiday season. READ MORE AT NATIONAL ASSOCIATION OF REALTORS

National Hispanic Heritage Month is annually celebrated from Sept. 15 to Oct. 15 for recognizing the contributions and influence of Hispanic Americans to the history, culture and the achievements of the United States. As the Hispanic population continues to grow in Florida, we take a look at how state, county and local communities are working to integrate and celebrate this growing population. VIEW VIDEO DISCUSSION AT SPECTRUM NEWS 13

Over the last decade and a half, Latinos have created companies faster than all other demographic groups in the U.S. These companies are younger and consequently smaller than the average business. However, when compared to white-owned businesses, they grow revenues and create jobs at faster rates for all Americans, not just Latinos. If U.S. Latinos were a country, it would be the fifth largest GDP in the world, growing faster than the U.S. economy. READ MORE AT STANFORD GRADUATE SCHOOL OF BUSINESS

“They’re very resilient. They wish for growth: they’re very ambitious, even in difficult times.” That’s Barbara Gomez-Aguinaga, associate director of the Stanford Latino Entrepreneurship Initiative (SLEI) and lead author of SLEI’s latest State of Latino Entrepreneurship report.

According to SLEI, Latino business owners have for many years been outpacing their peers in terms of revenue and payroll growth. Annual growth rates in revenue and payroll were higher every year for Latino-owned businesses than for White-owned businesses through 2019. READ MORE AT FORBES

Startups with a Latino founder received just 2.1% of the nation’s venture capital in 2021, according to LatinxVC, a nonprofit focused on increasing venture capital investment. Accelerators for Hispanic entrepreneurs can provide opportunities to connect with other business leaders, investors and industry experts. READ MORE AT TAMPA BAY TIMES

Even though Latinos are the second largest ethnic group in the U.S., they’re underrepresented across many industries, including finance, which can have long-term effects on the ability to grow wealth. A group of Latino-led and focused venture capital firms is looking to change that.

Lack of access to capital markets makes it harder for Latinos to build meaningful wealth. It also means they’re underrepresented as shareholders of companies if they aren’t holding stocks and that they’re not lending a proportional voice to investing decisions. READ MORE AT CNBC

Even before Claire Risoli decided to open up her own restaurant, she knew she would call it Pocha. “Pocha was something that I was called growing up that I hated,” she said. “It means Americanized Mexican girl, and for me, it always made me feel like I wasn’t enough.”

Latinos like Risoli account for 52% of all new employer businesses, according to the 2022 Latino Donor Collaborative U.S. Latino GDP report. The study also measured U.S. Latinos’ contributions to the economy known as the gross domestic product and found that it was worth $2.8 trillion in 2020. READ MORE AT SPECTRUM NEWS 1

Comcast RISE to Award $1 Million in Grants to Small Businesses Owned by Women and People of Color in Cook County

Eligible businesses can apply October 3-16 for a $10,000 grant; 100 recipients will be selected

CHICAGO (September 14, 2022) – Comcast today announced it will award $10,000 grants to 100 small businesses owned by women and people of color in Cook County through its Comcast RISE Investment Fund. Cook County is one of five locations selected for this new round of the grants program. Other locations include Miami, Oakland, Seattle and Washington D.C. Comcast will award a total of $1 million in grants in Cook County alone – $5 million across the five locations – in this round. This brings the total amount of Comcast RISE Investment Fund grants awarded to $21 million nationwide to date. This is the second time Comcast has opened the fund to Cook County businesses.

“The pandemic has affected businesses owned by women and people of color in Cook County and elsewhere exceptionally hard,” said Cook County Board President Toni Preckwinkle. “I encourage eligible businesses to apply for a grant. This money can help strengthen their position, especially as we emerge from the pandemic. “

“Women-owned businesses face a variety of challenges, including accessing funding,” said Women’s Business Development Center President and Chief Executive Officer, Emilia DiMenco. “These dollars will allow them to invest in their businesses and strengthen their financial position moving forward.”

“Hispanic-owned businesses face enormous barriers to success,” said Illinois Hispanic Chamber of Commerce President and Chief Executive Officer, Jaime di Paulo. “These dollars will allow them to invest in their people, their equipment and their technology, and help prepare them for the future.”

To help drive awareness of the program and provide additional support, training and mentorship, Comcast is awarding a total of $50,000 in grants to four Cook County community-based organizations, including the Illinois Hispanic Chamber of Commerce, South East Chicago Commission, South Shore Chamber of Commerce and Women’s Business Development Center.

Comcast RISE also provides marketing and technology services

In addition to the Investment Fund, Comcast RISE, which stands for “Representation, Investment, Strength and Empowerment,” provides the opportunity for small businesses owned by women and people of color in Comcast’s nationwide footprint to apply to receive one or more of the following services:

Marketing services: Comcast’s advertising sales division, Effectv, and its creative agency, Mnemonic, help recipients with marketing and media campaigns, including:
Media: Linear TV media campaigns that run over a 90-day period.
Creative production: Turnkey 30-second TV commercial production, plus a media strategy consultation and a 90-day linear TV media campaign.
Consultations: Digital audits by Ureeka, a go-to platform for small businesses looking to use their website and online marketing to acquire customers, in the form of Website Repair Reports and Search Engine Optimization Keyword reports to target website mechanics and effective organic marketing; and
Technology Makeovers: Technology upgrades from Comcast Business include computer equipment, as well as internet, voice and cybersecurity services for up to 12 months (taxes and other fees may apply).
Comcast RISE was formed in late 2020 to give small businesses owned by people of color the support and resources they need to not just survive but thrive. In November 2021, Comcast RISE announced a major expansion to all women-owned businesses. To date, more than 9,500 Comcast RISE awardees have been announced from 704 cities across 37 states and the program is on track to provide support to 13,000 small businesses by the end of 2022. Comcast RISE is part of Project UP, the company’s comprehensive 10-year, $1 billion initiative to advance digital equity and help build a future of unlimited possibilities.

For more information and to apply, visit www.ComcastRISE.com. The Comcast RISE Investment Fund grant application is open from Oct 3-16 to Cook County businesses owned by women and people of color that have been in business three or more years with 1-25 employees. Check the site for more information about eligibility. Site visitors can also apply for the opportunity to receive marketing and technology services through Comcast RISE.

The Suazo Business Center has jump-started about 5,000 Utah small businesses over the past two decades, about 93% of which are minority-owned. Two women have driven that success: the center's founder, Gladys Gonzalez, and its current president and CEO, Silvia Castro.

The women, both immigrants from South America, know firsthand the challenges first-generation immigrants face when it comes to "making it" in the U.S. They've used those experiences to provide culturally relevant, multilingual business advice and mentoring to entrepreneurs across the state. READ MORE AT KSL.COM

Latino-owned companies are growing at record rates and have a plethora of support to tap into. However, securing funding remains a challenge. There are an estimated 4.65 million Hispanic-owned businesses in the US, making them the fastest-growing segment of small businesses in the nation. According to the Stanford Latino Entrepreneurship Initiative (SLEI), a research and education collaboration between Stanford University and the Latino Business Action Network, over the last 10 years, the number of Latino-owned businesses in the US has grown 44% compared to just 4% for all others. READ MORE AT THE NEW JERSEY BUSINESS MAGAZINE

Transforming ideas into reality is one of the most fulfilling things that a small business person does. However, it’s not enough to just have an idea and start a business. To succeed in the long term, you need to put in the work to make your basic brand story thrive through the equally important elements of strategy and execution. READ MORE AT BUSINESS2COMMUNITY

While Latino-owned businesses are growing at a much faster rate than any other business segment in the country, they continue to face greater barriers to financing and report lower than average revenue per company than white-owned companies, according to new data released last week.

On Friday (January 28), the Stanford Latino Entrepreneurship Initiative (SLEI) released its seventh annual research report, State of Latino Entrepreneurship, exploring the impact, challenges, and opportunities of the fastest growing business segment in the U.S. economy. READ MORE AT POETS AND QUANTS

So, if you’re committed to making your pastime a professional endeavour and prepared for all that entails, you might be wondering where to get started. Of course, there are various ways you could go about it, and the below is just one such method:

Start with a business plan

One of the best places to start if you’re trying to convert your hobby into a career is to come up with a solid business plan for your idea. READ MORE AT THE NEWS INTERNATIONAL

White men now make up the minority of business owners in the United States, a shift driven by fast growth in women- and LatinX-owned businesses, and one that has profound implications for the country’s finance and innovation infrastructure.

LatinX owned businesses have been growing at a rate of two- to-four times the rate of the overall population since 2015, when Porras’s organization began surveying them. He estimates that there are 1 million net new LatinX-owned businesses created every five years. READ MORE AT FORBES

Despite being the fastest-growing segment of the U.S. small business ecosystem, Latinos continue to struggle to secure capital from national banks.

That’s according to the State of Latino Entrepreneurship 2020 research study from the Stanford Latino Entrepreneurship Initiative.

Stanford’s report found that only 20 percent of Latino-owned businesses that applied for national bank loans over $100,000 obtained funding, compared to 50 percent of white-owned businesses. When looking at loans of all sizes, the percentages change, but not the gap: among Latinos, 51 percent received loans versus 77 percent for whites. READ MORE AT CBS NEWS