Supporting Latinapreneurs
In collaboration with the Latino Community Foundation and the California Commission on Status of Women and Girls, the Stanford Latino Entrepreneurship Initiative has released new data highlighting Latinapreneurs in California, whose over 21,000 Latina-owned businesses make the golden state home to 24% of all Latina-owned businesses in the nation.
Latinapreneurs are California’s Best Bet For An Economic Renaissance
The Stanford Latino Entrepreneurship Initiative surveyed 10,000 employer businesses in 2022 as part of its annual national survey to assess the current state of U.S. Latino entrepreneurship and in collaboration with the Latino Community Foundation, has compiled some of the most pressing insights about Latina-owned employer businesses in the state of California. Click below to download the full findings.
Local Government Contracting Gap (what Latina owned-businesses earn for every $1 earned by White men-owned businesses)
%
Latina-owned businesses experienced the longest corporate contract negotiating periods with 43% of them taking more than 12 months (compared to 26% among White women-owned businesses)
State Contracting Gap (what Latina owned-businesses earn for every $1 earned by White men-owned businesses)
Key Takeaways
With more than 21,000 Latina-owned businesses in the state, California is home to 24% of all Latina-owned businesses in America.
Latina-owned businesses have outpaced the revenue growth rates of Latino men-owned businesses and all White-owned businesses in California.
Latina-owned businesses generate less revenue from government and corporate contracts than Latino men-owned businesses and all White-owned businesses in California.
Data Sources
Data Sources and Reports
U.S. Census Bureau Annual Business Survey 2020; SLEI Survey of U.S. Business Owners, 2022.
Barbara Gomez-Aguinaga, Jonathan Furszyfer, Jerry Porras, and Paul Oyer. “2022 State of Latina Entrepreneurship in California.” Stanford Latino Entrepreneurship Initiative. 2023.
For more information, visit gsb.stanford.edu/slei
Latino Community Foundation Blog
By: Max Vargas, Vice President of Economic Justice & Veronica Vences, Entrepreneurship Director
Excerpt:
“One step state and local governments can take to build trust and opportunity is to invest in culturally and linguistically relevant outreach, support, and technical assistance for small businesses. Grassroots nonprofits can be trusted partners and lead the way in direct service to Latinapreneurs and others, providing support and even capital to help them launch and grow their businesses. It’s why the state should also support the nonprofit ecosystem with reforms like those included in the California Nonprofit Equity Initiative to more equitably work and contract with nonprofits that will be there for our entrepreneurs.
Latinapreneurs are already proving they can execute in the market and provide great services and products, but the tedium and hurdle of bureaucracy is not letting them compete for public contracts. Support from trusted partners as they navigate those processes, coupled with more streamlined government contracting in the first place, would allow just competition and improve the way government serves the public, all while benefiting our state and local economies. And, given how Latino entrepreneurs are still unjustly denied business loans even when they outperform other businesses, the state’s ability to support access to business capital and to reduce payment delays to businesses it does contracts with, will be paramount for all, but especially Latinapreneurs and small business owners.”
Click the button below to access the full article.
Learn More About the Latino Community Foundation
CONTACT:
Latino Community Foundation – 235 Montgomery Street, Suite 1160, San Francisco, CA 94104
info@latinocf.org | 415-236-4020
Latinapreneurs aren’t just the backbone of California’s economy, they are our best bet at an economic renaissance. The billions of government dollars flowing to California have the potential to change the economic landscape of the state, but if we fail to meet this moment we will miss our shot to build a more just and inclusive economy and that would be a costly market and moral failure.