Entrepreneurship is in the blood of Latinos. Latino-owned businesses have grown at twice the national rate, and a majority of Latino business owners plan to leave their businesses in the hands of their children.
The online publication Latin Business Today, LLC (LBT), which looks to "inform, inspire, mentor & empower," has a revamped site and a renewed interest in catering to U.S. Latino businesses, offering unique content and mentorship.
Goya Foods, the United States' largest Hispanic-owned food company, has expanded its West Coast headquarters, developing a distribution center and a new facility in Southern California, a response to growing demands for Goya products among immigrant populations and Americans, as part of a $300 million expansion.
When Latino and black entrepreneurs enter banks to secure a loan to jumpstart their small businesses, they are given less information, asked more questions regarding their personal finances, and are offered less help with their application than white loan applicants.
St. Louis, Missouri is yet another example of a city that struggles with the “recruitment and retention of human capital.” St. Louis has a small immigrant population compared to other metro areas of similar size, and that absence explains a lack of economic expansion and growth.
