Latina Entrepreneurs

Latina businesses increasingly make their mark


Latina businesses are on fire. The number of businesses owned by Hispanic women grew by 39 percent nationwide, to an estimated 470,344, in the five-year period that ended in 2002. That compares with about 9 percent growth for other businesses, according to the Center for Women’s Business Research, which draws its estimates from U.S. Census data.

In Arizona alone, the number of Latina-owned companies grew by 58.3 percent during that same time, to 14,538. And they generated nearly $726.9 million in sales from 1997 to 2002, up 10.6 percent.

The non-Latinas are no smarter than Latina entrepreneurs. They’ve only been at it longer.

Hispanic women have always been entrepreneurial, even as they traditionally managed the household. Many also would keep small businesses on the side.

But now access to capital is opening up and Hispanic women are increasingly pursuing degrees in business. That’s giving Latina entrepreneurs a greater chance at growing their companies.

The fact is that the Latino businesses and corporate leaders are more accepting today of them than ever before.

Traditionally, one of the biggest obstacles for Latina entrepreneurs was family structure. Many women were raised with an emphasis on becoming wives and mothers.

For years Latino families held back their daughters from getting an education. ... Parents had a hard time of letting go, and it crippled the development of Latinas in our community.

But white women have demonstrated that doesn’t have to be the way.

Education has been key to Latina advancement.

The more you know, the more you do.

Playing sports is one way to develop Latinas as entrepreneurs.

It teaches discipline, it teaches endurance, and it makes you a fighter.

But success is dependent on making good choices, such as writing and following a business plan and hiring a team that knows more than you do.

Mentors, offer support and build self-confidence. Trusting one’s instincts and a willingness to take risks also are important.

The rest will flow naturally as you work through the challenges and the incredible opportunities.