Latino entrepreneurs overcome financial barriers in U.S
Latina women have stood out among Latino entrepreneurs, because they, as women, face additional challenges. Between 2007 and 2012, businesses created by Latinas grew 87%. However, they continue to present several difficulties in obtaining financing. Many times they are told that they do not have enough training or lack of preparation.
The director of the Stanford University program for Latino entrepreneurs, Jerry Porras, told the community that the challenge is to create an ecosystem, transform it and make it work throughout the country. The opportunity to grow as companies at the height of any American business is great. It does not matter if it's about traditional companies such as startups that increasingly seek excellence.
If in 2012 in the United States, there were 3.3 million businesses created by Latinos; in 2017, a 46% growth was discovered. In the case of businesses founded by whites, the inclination was 6% to remain at 19 million companies. The problem is how businesses grow. Latinos still have barriers to collapse, such as access to credit, especially by banks.
The most prestigious studios on the west coast of the United States, Stanford University, the birthplace of Silicon Valley and innovative businesses, has always had an obsession: to make economic prosperity serve as the engine of social progress.
In order to measure the impact of Latinos on the business fabric, they conducted a survey of more than 5,000 business creators who identify themselves as such. Under that label is included anyone who identifies as an heir of Hispanic culture, regardless of whether he is an immigrant or his generation. It covers both Spanish and Mexican, Colombian or American who adhere to the term.
Up to this point, there is no talk of immigration status, but it does affect the moment it is reached since the development of Latino businesses has displaced that of any other democratic group. The research indicates that despite scarce access to financing through bank loans, they grow. Many Latinos work as a family. More than half recognize that it is part of the culture to activate a company.
The role of young entrepreneurs, especially those who come from children to the United States, is the one that best develops. 86% of the companies created by immigrants have this profile. For researchers, this is a message of hope. Educating in the United States, with access to higher education, makes them learn the language faster, have more opportunities and access capital.
One of the researchers of the faculty, Marlene Orozco said that this is only the beginning, emphasizing how some states are more favorable to Latinos such as Florida, California, Texas, Nevada and New York. Florida and Nevada are the territories where entrepreneurs are most trusted by private investment.
However, California, the birthplace of Silicon Valley, is not where venture capitalists help Latinos.
