Latinas are a force; Latinas continue to be the driving force in our homes, at work, and in our Nation’s economy. The ongoing rise of the “she-conomy”; where Latinas are at the forefront. Latina entrepreneurs (Latinaprenuers) are outpacing the growth of white owned businesses by opening businesses at 6 times the rate. In fact, the Stanford Latino Entrepreneurship Initiative’s 2023 report dove deeply in understanding this trend.
This report showed the important economic contributions Latinaprenuers pour into our economies. Key findings included:
•Latinas having a high rate of business ownership.
•Latina business owners leading in pursuing business financing.
•Latina businesses obtaining the lowest approval rates on business loans.
•Latina businesses are seeking government contracts at lower rates than their peer businesses.
Now imagine if these obstacles were removed. Imagine if there were organizations in our communities that were solely focused on unleashing the economic power of Latino and Latina businesses?
The Latino Community Foundation’s (LCF) Entrepreneurship Fund was created to make this a reality. Since its inception in 2020, LCF has invested $1,858,000 in 29 organizations across the state that are (1) increasing capital available to Latina Entrepreneurs (2) increasing the capacity of Latino-led nonprofits to provide tailored 1:1 support & (3) continuing to shape the narrative around Latina entrepreneurs.
Our Latino-led grassroot organizations understand and value our Latina Entrepreneurs. For example, when “Teresa” walks-in through their doors, they see her dream as a vehicle for her to prosper. Her desire to cook authentic and flavorful foods comes from her childhood in Mexico and with the support of the Latina Center she can operationalize and make that dream a (tasty) reality.
“My greatest desire has always been to implement my own kitchen with my recipes and help many more women who are single mothers to be themselves in harmony and freedom.” Teresa, A Latina Center Entrepreneur
From providing mini-grants as capital like our partners at La Luz Center, to opening a state-of-the-art high-tech business hub like the Black and Brown Opportunity for Profit Center (BBOP), to providing critical guidance from ideation to inception of a business idea like Asociación de Emprendedores, to closing the gap in government contracts like our partners at National Latina Women’s Business Association- Inland Empire. Through LCF’s Entrepreneurship Fund, our partners are ensuring Latina Entrepreneurs have the capital and support their businesses need to succeed.
“Initially there was hesitation from [Latina Entrepreneurs] to believe that the BBOP Center was there to help them without asking anything in return. Unfortunately, healing from the trauma of discrimination takes time, but the women now know they have a place of trusted supporters that want to see them succeed.” Vanessa Perez, TFCF Executive Director
The Latino Entrepreneurship Initiative invests in the immense power of Latina entrepreneurs to advance the economic mobility of our entire community. Our organizational partners are trusted community institutions who show vs tell how they are solving the problem. Together, we are leading an economic renaissance that reshapes the economy and rewrites our collective future.
Learn more about our community partners:
National Latina Women’s Business Association- Inland Empire
Time For Change Foundation / Black Brown for Opportunity and Profit Center
About LCF:
The Latino Community Foundation (LCF) is on a mission to unleash the civic and economic power of Latinos in California. LCF has the largest network of Latino philanthropists in the country and has raised $100 million to build Latino civic and political power. It is the only statewide foundation solely focused on investing in Latino youth and families in California. In 2023, LCF named former Housing and Urban Development Secretary, Julián Castro as their CEO. For more info, please visit: latinocf.org
By: Veronica Vences, Entrepreneurship Director
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