400 Hispanic Women-Owned Businesses Are Launched Each Day
National Hispanic Heritage Month spans from September 15th – October 15th and celebrates the contributions of the Hispanic community. Research on Hispanic women entrepreneurs conducted by NWBC finds that there are over 1.9 million Hispanic women-owned firms in the United States. These firms are growing in number, revenue, and employment. According to the 2018 State of Women-owned Businesses Report by American Express, 400 Hispanic women-owned businesses are launched each day; and since 2007, Hispanic women-owned firms have grown at a rate of 172 percent.
Hispanic women are also job creators. Recent U.S. Census Bureau data analyzed by the NWBC shows that from 2014-2016 employment amongst Hispanic women-owned firms grew at a rate of 14 percent. In 2016, Hispanic women employed over 570,000 workers.
NWBC spent Hispanic Heritage month celebrating and acknowledging women entrepreneurs’ success and impact. Federal agencies across Washington, D.C. hosted events to pay tribute to the Hispanic Americans who have made a significant impact in U.S. history. The U.S. Department of Transportation and the Honorable Elaine L. Chao hosted a celebration featuring a fireside chat with U.S. Representative Mario Diaz-Balart (FL-25).
The U.S. Small Business Administration also celebrated Hispanic and Latino American culture and heritage with a presentation from Ilka S. Rodriguez-Diaz, a Chief Foreign Language Strategist for the Central Intelligence Agency. Ms. Rodriguez-Diaz is also a founding member of the Agency’s Latino employee resource group, the Hispanic Advisory Council.
The White House celebrated 2019 Hispanic Heritage Month with a reception on Friday, September 27th. The event was attended by a diverse group of American Latinos representing various industries, NGOs, faith-based groups, as well as geographic regions from across the country. One prominent Latina businesswoman from Texas delivered brief remarks about her journey to becoming one of the state’s most successful female founders.
NWBC staff also participated in the Embassy of Spain’s and the Association of Hispanic Leaders’ (ALH) Hispanic Heritage Month roundtable discussion titled “Hispanic USA 2020: A Conversation About Our Impact and Influence in American Society Today.” The roundtable brought together key national Hispanic leaders who shared their respective viewpoints and insights on the current state of the U.S. Hispanic community – specifically, the growing, political, economic, and social clout of Latinos, the nation’s second largest demographic community.
To wrap up Hispanic Heritage Month, Nina Roque, NWBC Executive Director, participated in ‘The Essentials of a Successful Business’ panel at the Latina Style Business Series on October 18th. It was an honor to provide insights and trends related to Latinas in business, as well as on alternative forms of capital, including the findings of the Council’s crowdfunding research.
Latina-owned businesses are one of the fastest growing sectors of national entrepreneurship in the U.S. High potential Latina business owners drive local and national economic development, and often make substantial contributions to their communities. The rate of new businesses being launched daily by Hispanic women is a testament to how their entrepreneurial spirit is shaping the new workforce of the 21st century. NWBC is committed to supporting Hispanic women-founded firms from startup to scale. With a thriving entrepreneurial ecosystem, these firms will continue to have great success.
