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National Hispanic Heritage Month runs from September 15 to October 15. During the celebration, people should reflect on the impact the Hispanics make in our community, especially economically. Therefore, both customers and other companies should consider supporting Hispanic-owned businesses during National Hispanic Heritage Month and help increase their revenue and give small businesses the exposure they need.
According to a Joint Economic Committee Hispanic Entrepreneurship and Business Brief, there are nearly five million Hispanic-owned businesses in the U.S. and they create about $800 billion for the U.S. economy annually. They also employ about one million workers. Yet many small Hispanic-owned companies, as with most minority-owned companies, struggle financially, and only approximately half of them apply for business loans because they fear they'll be rejected. Supporting Hispanic-owned businesses, especially the smaller ones, not only help the Hispanic community but our nation's economy as well.
While people can support Hispanic-owned companies anytime, National Hispanic Heritage Month makes an ideal time to do so. Support Latino Business' website offers resources for finding local Hispanic-owned businesses. Customers who enjoy Mexican food should patronize actual Hispanic-owned restaurants. Consider buying beauty products from Earth's Shell, jewelry from Xio and purses and tote bags from Cuyana.
Customers can give further support with word-of-mouth recommendations to friends and co-workers and by writing positive reviews on websites, including Google and Yelp. They can also comment and write reviews on the company's Facebook or Twitter pages or make recommendations on their own social media posts.
Established companies should consider donating money to local Hispanic-owned businesses, especially those struggling financially. Employersers and upper management executives can also donate time in consulting and mentorship programs for new business owners. Hispanic Association of Small Businesses and Latino Business Action Network provide resources for networking businesses.
Larger companies can also build relationships with Hispanic-owned businesses. Some corporations can partner with Latino companies on special events and promote the event on their website and social media. Distributors can diversify their supply chain by using Hispanic-owned suppliers.
If you have any questions on how to support Hispanic-owned businesses during National Hispanic Heritage Month, please contact one of our representatives, who will gladly assist you.