In an ever-evolving cultural mosaic that is the United States, the annual Support Latino Business Day serves as a celebration of diversity, entrepreneurship, and economic empowerment. More than just a date on the calendar, it represents a day for allies to unite, recognizing the profound contributions of Latino-owned businesses to our society. These businesses are not just economic engines; they are the creators of jobs, the catalysts for growth, and the heart and soul of local communities.
Latino-owned businesses form the very backbone of our local economies, driving growth and innovation. The Latino community, whether U.S.-born or foreign-born, has left an indelible mark on the country’s economic landscape, serving as consumers, job creators, and entrepreneurs. Despite their undeniable impact, they continue to grapple with misconceptions and financial challenges, highlighting the pressing need to celebrate their contributions and provide unwavering support.
According to the Joint Economic Committee Hispanic Entrepreneurship and Business Brief, nearly one in four new businesses in the United States is Hispanic-owned, contributing over $800 billion to the American economy annually. There are over 375,000 Hispanic-owned employer businesses across America, collectively employing over a million workers with more than $100 billion in annual payroll. Notably, the number of Hispanic-owned businesses with employees other than the owner increased by a remarkable 14% between 2012 and 2017, outpacing the national average twofold.
In the decade leading up to the pandemic, the growth of Hispanic business owners outpaced that of their non-Hispanic counterparts by a staggering 34%, demonstrating their entrepreneurial spirit and resilience. In 2020, Hispanic-owned businesses grew by 8.2%, constituting approximately 6.5% of all businesses in the United States, yielding an impressive $472.3 billion in annual receipts and providing employment for 2.9 million individuals.
When we choose to buy locally, we contribute to our community’s growth while incentivizing others to start their businesses. Although the best way to support a small business is by consuming their products and purchasing their services, there are many other ways in which we can contribute to their success.
- Spread the word: Recommending your favorite local business to family and friends can have a tremendous impact. Friends often trust your recommendations and may choose to shop there as well.
- Share on social media: In a world dominated by social networks, small businesses are increasingly creative in engaging their customers. By resharing their posts on your profile, you give them more exposure to potential clients.
- Share a review: Reviews play a crucial role in a business’s reputation. By leaving a 5-star review, you help attract new customers.
- Shop in advance: Even when there isn’t a special event, you can contribute to a business’s income by purchasing gifts in advance, ready for the perfect occasion.
- Collab with them: Organizations can support Latino-owned businesses by partnering with them for corporate events, such as ordering from them for special lunches or buying gifts from their shops. This encourages members of the corporation to support the business in their free time as well.
By taking these actions, we contribute to the success of many local and Latino-owned businesses that have faced significant challenges, especially in these post-pandemic times filled with uncertainty. Cool & Associates LLC has taken on a mission to support our Latino brothers and sisters and empower them by spreading the word. Here are some of the local Latino businesses we’ve discovered and encourage you and your family to visit:
- SPAGnVOLA Chocolatier: SPAGnVOLA has been revolutionizing the world of chocolate since 2009, using the finest cacao beans harvested in the Dominican Republic. They bring the most exquisite premium chocolate to your table. Located in Gaithersburg, MD, SPAGnVOLA is committed to providing the best chocolate experience to its customers.
- El Carreton: If you want to experience an authentic paleta, el Carreton is the place to go. This pop-up ice cream truck specializes in Mexican-style artisanal frozen treats for you and your whole family.
- Mexi Art by Ale: Offers you an introduction to Mexican folklore, culture, and indigenous traditions. Alejandra Martinez started her dream business in 2018 to share her love and passion for folklore with others. Hand-made with love, Mexi Art offers you high-quality handcrafted jewelry.
- Dulceology: Located in Federal Hill, Dulceology is an artisan Latin Bakery that offers you a wide variety of sweet treats, from alfajores to sweet empanadas. Salvadoran sisters Alejandra and Nicole Leiva invite you to try their amazing baked goods, including delicious Salvadoran quesadillas.
While these are just a few of the remarkable Latino-owned businesses, there are hundreds of others that could use our help and support. If you are struggling to find a business the Latino Economic Development Center (LEDC) is here to help with their LEDC Business Directory, whether you’re looking to buy from minority- or women-owned businesses, their directory is the best place to find these growing businesses. The LEDC helps Latinos and other underserved communities by providing resources and skills to create a brighter future for their families and communities.
Another platform that can help you discover more of these amazing businesses is Shoplatinx.com, the first Latinx marketplace for all your beauty and home goods needs. It’s a platform by the community and for the community, where your shopping spree can also help others.
The upcoming holiday season provides us with the opportunity to come together with our loved ones and express our appreciation through a small gesture or gift before the year’s end. It’s the perfect time to help and support our community by giving back to all those small retailers. Choose to support Latino-owned businesses!
Image: ©[Rido] via Adobe Stock
