Celebrating Hispanic Heritage Month as an Entrepreneur: Inspiration and Resources to Bring Your Business to the Next Level

By Jody Bell

Did you know that 1 out of 7 businesses is run by a Hispanic American entrepreneur? 

These thinkers, leaders, and creators continuously face challenges as they further their careers and ventures; statistically only 20% of Latino-owned businesses that applied for over $100,000 in loans received the funding, compared to 50% of white-owned businesses. This is just one example of some of the racism that these entrepreneurs face when trying to grow their businesses. Yet despite the obstacles they face, Latino small-business owners are the fastest growing group of entrepreneurs in the U.S. ‒ growing at 34% compared to 1% for all business owners.

National Hispanic Heritage month just started, and we wanted to kick off the celebration and reflection with some inspirational Hispanic entrepreneurs along with resources specifically targeted towards Hispanic business owners looking to further develop their ventures!

3 Hispanic Entrepreneurs Dominating the Start-up Space

1. Rea Ann Silva 

Have you ever heard of or used a Beauty Blender ‒ the little egg-shaped sponge commonly used for blending out foundation or concealer during makeup application?

Personally, I couldn’t imagine blending out my makeup without it! This tool was invented and sold by Rea Ann Silva in 2002 when she was a makeup artist using the tool on actors on set. 

Almost a decade later and her product has won 10 Allure Best of Beauty Awards, and she has now launched her own foundation line ‒ Bounce ‒ which aims to be an inclusive line with 40 different shades.

2. Ramona Ortega 

Ortega’s family experienced poverty during her childhood in California as a third generation Mexican American.

As a result of these struggles, Ortega made it her goal to provide financial education in the hopes of closing the racial wealth gap. She launched Mi Dinero Mi Futuro ‒ a digital platform that leverages technology to deliver financial education tools and guidance to millennials of color. 

3. Sofia Vergara

You may have heard of Vergara from her features in some of the biggest movies over the past two decades, but did you know the Colombian actress is also a business owner?

She is the co-founder of Latin World Entertainment — a massive talent and marketing firm that helps producers target and source Latino talent for the entertainment industry. Her business pursuits may be a shock for those who know of her from the big screen; as she states, “I have a special eye for opportunities and work harder than anyone might expect. It’s fun to shock people with my business ideas.”

Some Helpful Resources for Hispanic Business Owners:

1. The Latino/Hispanic Business Center

Sometimes, the best resource is just a community with similar backgrounds, experiences, and stories to hear and tell. 

That is exactly what the Latino/Hispanic Business Center is ‒ the group meets virtually every month to share advice, resources, and simply take a moment to reflect and build the community. Even outside of these calls, their site serves as a hub connecting business owners with the resources they need to allow their businesses to grow. To learn more check out their website, and if you have questions or hope to join their monthly calls, email danielle.telleria@helloalice.com.  

2. United States Hispanic Chamber of Commerce

With the core goal of promoting the “economic growth, development, and interests of more than 4.7 million Hispanic-owned businesses” this non-profit entity is a great resource for both Hispanic entrepreneurs and Hispanic individuals alike. 

The group has a network of more than 250 local chambers and business associations across the country, and also partners with over 260 major American corporations. They hold conferences and networking events, along with professional development programs, funding opportunities, and political activism initiatives. 

3. Grants.gov

Grants.gov is affiliated with the United States government with the goal of connecting individuals with hundreds of federal grant programs and initiatives.

Many of these grants are specifically targeted towards small business owners and entrepreneurs trying to launch startups. Given the racism and obstacles still present for minority business owners, there are plenty of public grants supporting Hispanic owned businesses specifically. The Minority Business Development Agency (MBDA) is a great place to start; this group alone helped minority-owned businesses secure nearly $4 billion in capital and contracts.  

Since these grants are associated with the government, many of these programs (such as the MBDA) actually advocate for Hispanic-businesses with officials, policy-makers, and influential business leaders. Receiving one of these grants not only helps financially, but also puts a great spotlight on your business!

While certain conditions and specifics apply, these grants can be used for anything from marketing, to product development and distribution; they are simply intended to help Hispanic business owners thrive and continue to flourish. 

Hispanic Heritage Month is a time of celebration, but also a time to reflect on the obstacles and racism still present within Hispanic communities. While these entrepreneurs are incredibly successful, they had to overcome obstacles that many white business-owners aren’t even aware of. While their success is to be celebrated, it is also important to recognize that these women shouldn’t have had to work harder to accomplish the same goals and aspirations as their white peers. A similar narrative is to be seen with the resources available to Hispanic entrepreneurs ‒ while it is great that the support exists, it’s an indication that we have further work to do before we have a truly equitable playing field for these business owners. 

If you have any questions, comments, or simply want to reach out, shoot me an email at jody.bell@girlswithimpact.com ‒ I would love to hear from you. 

Jody Bell, 20 is Girls With Impact’s Chief Editor and a program graduate from Greenwich High School. Girls With Impact is the nation’s only online, business and leadership program for girls 14-24, turning them into tomorrow’s leaders, entrepreneurs, and innovators.