There are institutions in the United States that offer support for Latino entrepreneurs to develop their projects.
Latino entrepreneurship in the United States is growing, as is its impact on the economy. That is why different entities have carried out actions to contribute to the improvement of the ecosystem in which this business sector operates.
Learn about the organizations dedicated to promoting this type of initiative for the benefit of all.
1. U.S. Small Business Administration
The SBA was created in 1953 and since then it has functioned to promote the start, growth, expansion and recovery of small businesses. In fact, through its Business Development Program 8 (a), this agency enables Latino entrepreneurs to obtain administrative and technical assistance. In addition, it is possible to compete for contracts and merge with consolidated companies.
2. Minority Business Development Agency (MBDA)
This federal agency belonging to the United States Department of Commerce, is oriented to promote the competitiveness of minority commercial companies. Specifically, MBDA provides customized development programs that provide access to markets, contracts, and capital, among other resources.
Its beneficiaries are commercial companies owned by people from minority groups, including Hispanics.
3. Latin Business Association (LBA)
It is a private, non-profit organization that aims to create opportunities for Latino entrepreneurs through innovative services and programs. With more than 40 years of experience, the Latin Business Association has managed to build a community of 800 thousand members and collaborators that constitute an important support network for the sector.
4. Hispanic Business Center
Hello Alice is an organization whose mission is to help small business owners be successful. In association with other institutions, they created the Hispanic Business Center in order to provide resources to Latino business-owners. Expert advice, financing and a support are some of the tools that you can find among their services.
5. Hispanic Association of Small Businesses (HASB)
The HASB is focused on improving the success rate of Latino entrepreneurs by providing business tools and resources. In the same way, it provides educational material, including workshops related to the proficiency of the English language.
One of its objectives is to eliminate existing discrimination and prejudice against small businesses from socio-economically disadvantaged groups.
6. Hispanic Retail Chamber of Commerce (HRCOC)
When it comes to entrepreneurship in the food and beverage industry, HRCOC represents your interests before the United States government and the media.
This institution helps connect to an extensive network of retail businesses at the local and national level. Likewise, its members enjoy consulting services, legislative information, seminars and marketing, among others.
7. Latino Business Action Network (LBAN)
The premise of the LBAN is to empower Latinos through research, education and the development of a national ecosystem that allows them to grow their businesses.
This non-profit organization in collaboration with the prestigious Stanford University and thanks to the investment of Latino entrepreneurs, has created the Stanford Latino Entrepreneurship Initiative (SLEI) educational program.
On the other hand, it is important to mention the contribution that Stanford University makes in terms of valuable information. Since 2015, it has been conducting studies on the state of Latino entrepreneurship in the United States. This provides relevant data for decision making, in addition to instilling a culture of inclusion, diversity and equity.
Asides from these organizations, there are other initiatives that seek to offer tools to Latino entrepreneurs. As for capital distributors, FinTech inQmatic offers an app so that Latino business owners have the possibility to connect with providers of financial products. As an added value, by acquiring a loan you get access to exclusive networking events, consultancies and courses.
Likewise, as a complement to this information we leave you the link to MOBI, who define themselves as the world’s leading provider of free online education for entrepreneurs.
Finally, we want to emphasize that the Latino community is an eminently important part of the United States society and economy. The dizzying growth of its ventures has increased the motivation to create better conditions for them to develop properly.
That is why a positive outlook is increasingly being created with greater opportunities to lay solid foundations that support this phenomenon that is being experienced.
Whatever your business idea, there are many organizations that can give you the necessary support to develop your project. And if you know others, share the information on our social networks. Remember that we can do more if we work together!