The upcoming seventh annual State of Latino Entrepreneurship Forum that will be held virtually on January 28th. The event will serve as a platform for the full release of the 2021 State of Latino Entrepreneurship Report that is the collaborative work of the Stanford Latino Entrepreneurship Initiative (SLEI) at Stanford Graduate School of Business (GSB) and the Latino Business Action Network (LBAN).
Research findings and trends in Latino entrepreneurship in the U.S. will be shared publicly at the Forum that will feature a panel discussion and fireside chat between special guest Isabella Casillas Guzman, the 27th Administrator of the U.S. Small Business Administration (SBA) and Jonathan Levin, Philip H. Knight Professor and Dean, Stanford GSB. Topics include the latest data on business practices, growth opportunities, and continued challenges faced by U.S. Latino entrepreneurs.
A portion of the Report’s findings was released in the event’s announcement. In the area of financing, the study showed that Latino businesses are more likely to be required to provide collateral to secure funding, even though Latino-owned employer firms match up to the credit characteristics of White-owned employer firms. A positive finding was that COVID-19 PPP funding gave a “greater lifeline for Latino-owned businesses during the pandemic”, though some challenges were encountered in accessing it.
The pandemic has placed pressure on all businesses, but small businesses were particularly hit hard by COVID-19. For Latinos, they were more likely to use their personal savings, reach the limit on their credit cards and utilize their home equity to survive the crisis.
Generally, both Latino and White business owners remain optimistic about their businesses being able to rebound from the pandemic. These and other Report findings being shared at the upcoming Forum were based on a survey of 15,000 business owners of which 7,500 were Latino-owned employer businesses and 7,500 Non-Latino, White-owned employer businesses.
Notable Latino business leaders will participate in the panel discussion following the presentation of full Report findings by Marlene Orozco, Associate Director of SLEI. The panel includes: LeAnna Fresquez, Executive Vice President, Fresquez Concession, Daniel Montes, President and CEO, Brilliant General Maintenance Inc. and Paola Santana, Founder and CEO, Social Glass. The Latino entrepreneurs will discuss COVID-19’s continued impact on their businesses and the report’s results, expanding on the Report’s themes of quality job creation, by Latinos and the financial viability of Latino-owned businesses in the U.S.
Arturo Cazares, CEO of LBAN will welcome attendees and Marc Tessier-Lavigne, President of Stanford University offers additional opening remarks. Jerry I. Porras, The Lane Professor of Organizational Behavior and Change, Emeritus, Stanford GSB, and Faculty Advisor, SLEI will speak about SLEI and LBAN, the two collaborating organizations behind the research study—which is the largest to date. Victor Arias Jr., Chairman and Cofounder, LBAN, will provide closing remarks.
To hear the full 2021 State of Latino Entrepreneurship Research Report, register for the virtual 2022 State of Latino Entrepreneurship Forum.
