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A Brief History of National Hispanic Heritage Month
September 15th-October 15th is National Hispanic Heritage Month. The National Archives cites that “the observation began in 1968 as Hispanic Heritage Week under President Lyndon Johnson and was expanded by President Ronald Reagan in 1988 to cover a 30-day period. It was enacted into law on August 17, 1988.” National Hispanic Heritage month is a month dedicated to honoring “the cultures and contributions of both Hispanic and Latino Americans as we celebrate heritage rooted in all Latin American countries.”
The Growing Success of Hispanic Business Owners
The number of Hispanic-owned businesses has been steadily growing in the United States during the last few years. In fact, a recent study found that over the last decade, the number of Hispanic business owners in the U.S. has grown by 34% while the overall number of business owners grew just 1%. The same study found Hispanic-owned businesses contributed roughly $500 billion to the economy in annual sales.
4 Resources for Hispanic Business Owners
Whether you’re a seasoned Hispanic business owner or just starting out, the following resources can provide you with support and useful information for your small business.
The Hispanic Association of Small Businesses (HASB) aims to “provide Hispanics and other minority owned businesses, or aspiring business owners, educational materials, business workshops, and remedial English workshops, to improve the local rate of success of such individuals in the community.”
“ The United States Hispanic Chamber of Commerce (USHCC) actively promotes the economic growth, development, and interests of more than 4.7 million Hispanic-owned businesses, that combined, contribute over $800 billion to the American economy every year. It advocates on behalf of its network of more than 250 local chambers and business associations nationwide, and also partners with more than 260 major American corporations.”
“The Latino Entrepreneurship Roundtable is a collective of individuals from all corners of the U.S. who share a passion for Latino/Hispanic culture and heritage. They are united by a common goal to establish a more connected and equitable environment for the fastest-growing group of entrepreneurs in America.”
SCORE is “the nation’s largest network of volunteer, expert business mentors and is dedicated to helping small businesses get off the ground, grow and achieve their goals.” They help Hispanic entrepreneurs find success in their small businesses through mentoring, webinars, courses on demand, a library of resources, and local events through regional SCORE chapters.
How We Can Help Hispanic-Owned Businesses
SBG Funding is committed to helping Hispanic-owned businesses access the funding they need to thrive and grow. Our mission is to provide fast, flexible, and affordable funding solutions tailored to the unique needs of every business we serve. Call us at (844) 284–2725 to find out how we can help.
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