Moneda Moves (68): Latino businesses are a force, but also in need of aid 🛠️
Have you checked in on your local Latino businesses lately? If not, listen to today's podcast episode first.
Today, we’re going to talk about Latinos and business in 2020. At the start of the year, you could say our demographic was ...crushing it. I remember this story from USA Today that summed up our small business wins nicely, titled: “Puro Cash: Latinos are opening more small businesses than anyone else in the US.” It also got a feature in this newsletter -- you can read it here.
In a country with roughly 60 million Latinos, Latino business owners grew 34%, compared to 1% for all business owners in the United States, and they were applying for more loans than ever to grow their businesses. Our representation in the world of small business could not be ignored. But seven months into the year, Latino small businesses are among the most devastated by the economic side effects of COVID-19.
Joining me on this episode is Xiomara Peña, California Program Director and National Latino Entrepreneurship Director for Small Business Majority. We speak about how Latino small businesses have been surviving, best resources to use and what the recent boycott against Goya products (#GoyaBoycott) could mean for these businesses.
Are you parting ways with Goya? Let us know @monedamoves.
Listen on Spotify, Apple, and Anchor and let us know -- what small businesses have you been supporting throughout COVID? And, are you parting ways with the well-known adobo?
Con poder✊🏽,
Lyanne