National Women’s Business Council Report Finds Hispanic Women Entrepreneurs Are Untapped Engine of Economic Growth

Hispanic Women Entrepreneurship: Understanding Diversity Among Hispanic Women Entrepreneurs

In correlation with National Hispanic Heritage Month, the National Women’s Business Council (NWBC) released a new report detailing the barriers to success faced by many Hispanic women entrepreneurs, and offering a roadmap of solutions to help unlock their full economic potential. Hispanic Women Entrepreneurship: Understanding Diversity Among Hispanic Women Entrepreneurs was prepared for NWBC by Susana Martinez-Restrepo, PhD, CoreWoman and Geri Stengel, Ventureneer.

The report revealed that while Hispanic women entrepreneurs have grown at a faster rate than any other group – 137 percent between 2007 and 2016(i) – their full economic potential is unrealized. The research highlighted that the 1.9 million Hispanic women-owned firms in the United States make a significant contribution to the economy, employing 550,400 workers and generating $97 billion in revenues.(ii) However, if Hispanic women-owned businesses generated employment and revenues proportionate to other women entrepreneurs, these figures would be increased by 80,000 and $155 billion, respectively.(iii)

“This Hispanic Heritage Month, I would like to take a moment to highlight the immense impact that Hispanic Americans, and in particular, Hispanic women, have had on helping our nation’s economy to grow and prosper,” said Chairman Steve Chabot who leads the House Small Business Committee. “With nearly two million thriving Hispanic women-owned firms accounting for billions of dollars in revenue each year it is clear that these companies are making a difference in their communities and in our nation. I applaud the dedication of our Hispanic American business owners not only this week or this month, but every day.”

“Women have made significant strides in our economy, but there’s much more work to do to level the playing field,” said Senator Jeanne Shaheen of the Senate Committee on Small Business and Entrepreneurship. “This is especially true for women of color. I commend the National Women’s Business Council for commissioning this report to examine the ways we can encourage and support Hispanic women-owned businesses. We must continue the fight to…

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