💸Moneda Moves (51): How Latinos are the fastest-growing business owners & increasing revenue 💰
Buen día, mi gente! This week in Moneda Moves, we have a bit in store for you:
A new Stanford University report is out on Latinos as the fastest-growing group of small business owners in the U.S.
We are hosting our first live event on April 1st with a few of our favorite collaborators in conversation with MSNBC's producer and co-author of "Earn It" Daniela Pierre-Bravo. Limited seats and books will be made available
With that and more, no te lo quieres perder.
See you at the bottom.
Con poder✊🏽,
Lyanne
Keep tabs/cuentas on what's happening at the intersection of Latinos and money.
Latinos are the fastest-growing small business owners across the U.S.💰: The big report making the rounds this week? A recent study from Stanford University, reporting that Latinos are now the fastest-growing group of entrepreneurs in the U.S. and making a $500 billion contribution to the economy in annual sales. While other segments grew one percent in the last ten years, Latinos have grown 34%. This is despite barriers to participating in entrepreneurship like lack of trust in financial institutions, lower income overall and loan rates. With Latinos projected to make up 30% of the U.S.by 2020, these numbers are only expected to grow even further.
(Credit: USA Today)
What's more is that this growth is increasingly fueled by young Latinos and in the last few years in particular:
Around 33% of Latino business owners were younger than 45 (compared to 22% of non-Latino business owners)
For every 100,000 Latinos, about 510 were becoming business owners in 2018
In the last year, Latino businesses have also reported an average revenue growth of 14%, which outpaced the growth of the U.S. economy
Know the powerful/potentes Latinos and up-and-comers in the money world.
USA Today's statement series, "Hecho in USA" 🇺🇸: This week, we are not calling attention to a business owner, but rather a group of journalists who have developed a statement journalistic series about Latinos that covers the community in ways more than one. Business coverage will fall under this umbrella. "Hecho in USA" will focus on covering Latinos as a multi dimensional group and beyond the lens of immigration. The coverage will spotlight how Latinos work and live in communities across the U.S.
(Credit: Giphy)
"The vast majority of major media focus is only through the lens of immigration, and the last few years, illegal immigration," reporter Alan Gomez says in a USA Today article. He believes Latinos are covered "as people crossing a border" instead of "people living in the U.S., living their lives, being members of this society." The new initiative aims to change that narrative. Stories will be published in English and Spanish and definitely is coverage we will keep a pulse on.
Put your money/monedita where your mouth is! Some money updates for thought.
An intimate conversation with DACA-recipient and MSNBC producer on "Earning It"📰: We are hosting our first live event in New York City and would love for you all to be a part. In collaboration with Immigration MIC's Hendel Leiva and the National Association of Hispanic Journalists, we are bringing you a live podcast session out of NYC's Civic Hall. MSNBC booking producer Daniela Pierre-Bravo has graciously agreed to share her experience navigating the media space and advocating for her worth all while being a Dreamer.
Join us on April 1, 2020 at 7 PM EST, Civic Hall, NYC
By day, Pierre-Bravo is a Morning Joe producer and contributor for NBC's Know Your Value. She also co-authored Earn It!, a guide to help young women advocate for themselves in the workplace, where she and Morning Joe host Mika Brzezinski write about her experience navigating the industry as a DACA recipient. Since then, she's been vocal about her opportunities and challenges as an immigrant and Dreamer.
In an NBC piece, she writes: "I was hungry to have one glimmer of a chance, an opportunity, to be able to work legally and one day give back to the country."
Sign up for your tickets here. Tickets are limited.
Want more people in on the moneda scoop? 📬Don't be shy -- share it with your partner or socio: tinyletter.com/MonedaMoves. Nos vemos.
(Giphy)