'Abriendo Caminos': New Opportunities for Latino-Owned Businesses
By: By Ramiro Cavazos, president of the United States Hispanic Chamber of Commerce
Google and the United States Hispanic Chamber of Commerce partner to offer a Latino homeowner attribute in Search, Maps, and Shopping, plus new financial support and training in skills for Latino business owners and nonprofits.
At the United States Hispanic Chamber of Commerce, where I have the honor of leading as president and CEO, helping Latino businesses succeed is at the core of our mission. Our responsibility to the more than 4.7 million Latino-owned businesses and our growing network of 260 local chambers and trade associations across the country is to seek and advocate for growth and economic development that builds shared prosperity.
We represent the fastest growing group of entrepreneurs in the United States and do not take that responsibility lightly. The number of Latino business owners has grown by 34% in the last 10 years compared to just 1% of all other businesses, based on a recent study by the Stanford Latino Entrepreneurship Initiative, and much of this growth has been driven by Latinas. These new businesses are stimulating, they highlight our potential and they are what motivates me every day.
In 2020, with the arrival of the COVID pandemic – 19, our cameras became emergency rooms for small businesses. We quickly mobilized and awarded hundreds of thousands of dollars in grants directly to Latino-owned small businesses and our local chambers to assist. These funds were a lifeline for Latino businesses to keep the lights on, pay payroll, rent, and meet other critical needs.
We also provided technical assistance, established online resource centers in English and Spanish, and graduated more than 150 Latino small businesses through our program small business accelerator.
Last year was also our busiest year in Washington, DC We raised $ 850 billion dollars to assist our Latino small business members. We advocate for access to the Paycheck Protection Program (PPP) for both Latino-owned businesses and Chambers of Commerce 675 (c) (6).
As we take a moment to reflect on our progress to date, we have our eyes set on the future. There is no denying that the world has changed dramatically and that we need to adapt and prosper, not just to survive. And technology is driving change faster than ever.
We got a glimpse of the transformative power of technology through our partnership with Google last year. We collaborate to provide additional funding and support from Grow with Google to the 40 of our cameras in the whole country. Together we train 10, 000 Latino small businesses and the initial results and impact that we have seen are truly remarkable.
Google and the Chamber Hispanic Commerce in the United States share a deep commitment to economic opportunity, development and advocacy for Latinos. That is why today we share that Google will make an investment of $ 5 million dollars in the business community of Latino owners and community organizations. Together we are introducing a new Latino Homeowner attribute that will be available on Google Search, Maps, and Shopping. This is all part of the investment of $ 15 millions of dollars from Google in economic equity for Latinos .
Google.org is also providing funding to support the Entrepreneurship Fund of the Latino Community Foundation, a initiative that strengthens Latino-led small businesses and microentrepreneurs throughout California. You will invest directly in more than 150 microentrepreneurs to support the tireless work of street vendors, cleaning services, gardeners, child care providers and other microentrepreneurs. For Latino-owned businesses, running a business is often a family affair, and the Entrepreneurship Fund will increase and improve the online presence of Latino-owned small restaurants through the creation of websites and social media accounts designed and managed by youth who participate in programs that form their technology skills.
This, in addition to Google’s ongoing support of nonprofits through $ 3 million in ads donated to Latino organizations. This includes the Hispanic Access Foundation , which uses the Google.org support to advertise internships for Latino college students, raise funds for scholarships that cover the costs of DACA, and more – all in the service of enabling more Latinos in the United States to achieve economic success.
Identify and buy in Latino-owned businesses
Today, we partnered with Google to announce a Latino Owners attribute that will be available on Search, Maps, and Shopping in the coming weeks, so businesses can easily identify themselves as Latino Owners on Google. This update is based on business attributes Black-owned , Veteran-owned and Women-owned ; And it is another way people can support various companies through Google products and platforms.
The attribute of Latino owners in Google Maps and Google Shopping