Hispanic Businesswomen Prospering
As the National Hispana Leadership conference in Miami concludes what is clear is that Hispanic businesswomen are prospering.
“Latinas are the fastest-growing group of small business owners in the country,” says Cristina Lopez, president of the Washington D.C.-based National Hispana Leadership Institute.
According to a 2007 survey of the Hispanic Association for Corporate Responsibility (HACR), Hispanic women are starting businesses at a rate six times the national average. Nationwide, 37 percent of all Hispanic business are owned by Latinas. The more than 750,000 businesses owned by Latinas generate close to $50 billion in revenues.
Latinas seek to start their own businesses for many of the same reason other women do: lack of opportunities, poor promotion prospects in Corporate America and flexible schedules. For Latina entrepreneurs there is the additional bias that they have a family first, trabajo second work ethic and therefore wouldn’t give it their all. Wrong they say and point to the $50 billion contributed to the U.S. economy.