Latino entrepreneurs are starting small businesses faster than the rest of the startup population and becoming a bigger part of the total U.S. market every day. When Latino entrepreneurs start a business, 70 percent of their funding comes from personal savings, according to the Stanford study, while just six percent comes from commercial loans.
Being an entrepreneur can feel intimidating and isolating, especially in the beginning. At Latino Community Fund, our goal is to make sure you don’t have to go it alone. The intent of the Economic Empowerment initiative is to equip business owners with the tools and resources needed to better manage and grow their business. Any strong community is an empowered one and empowerment is equivalent to strength.
If Latino owned businesses grow as fast as the U.S. average, they could add $1.4 trillion to the U.S. economy. Which would add almost eight percent to the $18 trillion U.S. economy. Through Economic Empowerment, we will leverage our business leadership skills and consulting expertise to help solve problems in the communities in which we work and live by addressing challenges small business owners face today.