According to the U.S. Census Bureau, Hispanic-owned businesses represent nearly 25% of all new businesses in the United States. This surge in entrepreneurship is not just a statistic—it’s a testament to the resilience, determination, and innovation of the Latino community.
In fact, over the past decade, the number of Latino-owned businesses has grown at a faster rate than the national average. As reported by the Stanford Latino Entrepreneurship Initiative, Latino entrepreneurs have increased by 34% over the last ten years. This growth is particularly significant in underserved and minority communities, where Hispanic small businesses have become engines of job creation and economic stability.
Impacting Local Economies and Communities
Hispanic-owned businesses are transforming communities across the nation. They provide jobs, create services tailored to local needs, and contribute to the cultural fabric of their neighborhoods. In Tulsa, the growing number of Latino entrepreneurs is helping to revitalize the economy, making a tangible impact on both the local and broader regional market.
Not only do Hispanic entrepreneurs create economic opportunities for themselves, but they also empower their communities. Many of these businesses hire locally, contribute to the tax base, and offer goods and services that reflect the cultural needs of the community. This sense of belonging and community-driven business success strengthens social ties and promotes inclusivity.
Overcoming Barriers: The Importance of Access to Resources
While the rise of Hispanic entrepreneurship is encouraging, it doesn’t come without challenges. Many Latino entrepreneurs face systemic barriers such as limited access to capital, language differences, and cultural biases within the lending system. These barriers often make it harder for new business owners to secure the necessary resources to scale their businesses.
At Avanzando Juntos, we’re working to break down these barriers. Our mission is to provide aspiring Latino entrepreneurs with startup capital, business education, and mentorship. By addressing the specific challenges faced by the Latino community—such as limited access to credit and resources—we are empowering entrepreneurs to build sustainable businesses that contribute to the overall economic prosperity of Tulsa.
The Role of Avanzando Juntos: Empowering Latino Entrepreneurs
At Avanzando Juntos, we believe that entrepreneurship is a key driver of economic empowerment. Our organization provides crucial support to Latino entrepreneurs in Tulsa, including those in the most economically vulnerable communities. We offer access to financial resources, training, and community-building opportunities that help business owners navigate the complex process of starting and growing a business.
Our work focuses on helping entrepreneurs overcome obstacles related to language, culture, and financial access. By providing tailored support to Latino business owners, we enable them to not only succeed in business but also create a lasting impact in their neighborhoods. In 2024, Avanzando Juntos supported over 50 Latino-owned businesses in Tulsa, helping them secure the capital they need to grow and thrive.
Ready to support local Latino entrepreneurs? Get involved with Avanzando Juntos and help make a difference in the community. Together, we can continue to drive economic growth, empower business owners, and create opportunities for all.