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Tapping into Latinas’ potential could unlock $393 billion in economic value in the U.S. 

Did you know that right now Latinas hold the power to unlock $393 billion in economic value in the U.S. and reboot the post-pandemic economy? In fact, some may even say Latina business owners and entrepreneurs have a ‘midas touch.’

The untapped economic value of Latinas in the workplace

According to an article published by Forbes, Latinas have this ‘midas touch’ that could potentially deliver $393 bullion in incremental value to the U.S. economy. Additionally, the most recent State of Latino Entrepreneurship Report conducted by Stanford  Graduate School of Business found that much of the growth among new businesses in recent years has been driven by Latinas. The data from the report revealed that Latinas currently represent 40% of all Latino business owners and the number of Latina-led employer firms has grown 20% within the last five-year period. 

In the same article published by Forbes it was reported that in 2019 alone, Latina entrepreneurs owned 2.3 million businesses and generated $119 billion in revenue. However, despite the tremendous economic power of Latinas, the average size of Latina-owned businesses is much lower than that of others, averaging only $50,900 in annual revenue. Latina businesses have also been disproportionately impacted by the pandemic as data from the Stanford report shows. According to the report, 41% of Latinas have reported experiencing “large negative impacts” due to the pandemic and nearly twice as many Latina-owned businesses experienced pandemic-related closures (30%) compared to Latino- and White Male- owned businesses (16% and 18% respectively). 

Source: 2020 State of Latino Entrepreneurship Report

Latinas also suffer from unfair gender biases in the workplace, especially in the area of wages. The gender wage gap for Latinas is 55 cents per every dollar earned by a White, non-Hispanic man. Furthermore, a 2016 briefing paper from the Institute for Women’s Policy Research found that if current gender wage gap trends continue without any action, it will take over two centuries for the gender wage gap to close for Latinas

Latinas Equal Pay Day, gender wage gap

Latinas are among the most adversely affected by the gender pay gap. They are paid just 55 cents for every dollar earned by white, non-Hispanic men. (Source: latinaequalpay.org)

But this does not have to be the narrative for Latinas. Latinas are strong, powerful, and capable business owners, entrepreneurs, workers, and leaders. If given the opportunities to generate the same level of revenue as white-women-owned businesses, Latina-owned businesses would generate an additional $393 billion in annual revenue–a big boost for Latinas and the U.S. economy as a whole. 

Closing the gap and supporting the Latina market 

To reach this potential and truly unlock the economic value of Latinas, more companies, corporations, and legislative bodies need to take a chance on Latinas. We need to see more Latinas in corporate-level positions. More Latinas in leadership. More funding for Latina-owned businesses. 

Photo by Armand Valendez from Pexels

This past year we have already seen some step up to the plate. Earlier in January, the tech giant Apple appointed the first Latina ever to their Board of Directors. Monica Lozano, president and CEO of College Futures Foundation, was appointed as the eighth board member, bringing with her a broad range of leadership experience, as well as a long track record as a champion for equity, opportunity, and representation.

“Monica has been a true leader and trailblazer in business, media, and an ever-widening circle of philanthropic efforts to realize a more equitable future — in our schools and in the lives of all people,” said Tim Cook, Apple’s CEO. “Her values and breadth of experience will help Apple continue to grow, to innovate, and to be a force for good in the lives of our teams, customers, and communities.”

Giannella Alvarez, Latina board member

Driscoll’s new Latina board member, Giannella Alvarez (Photo: Business Wire)

Even more recently, the major berry company, Driscoll’s, appointed Latinas Giannella Alvarez and Graciela Monteagudo to their board. Both women were praised for their cultural and international knowledge, citing these skills as great assets for the company’s dealings in the global market. 

Speaking on Ginannella’s appointment, J. Miles Reiter, Driscoll’s Chairman and CEO said, “Giannella is a highly creative and decisive leader who has a proven track record of talent building and energizing organizations across countries, customers and channels. Her significant on-the-ground international experiences will serve as an invaluable asset as Driscoll’s continues to grow and adapt to the ever-changing marketplace.” 

Graciela Monteagudo, Latina board member

Driscoll’s new Latina board member, Graciela Monteagudo (Photo: Business Wire)

On Graciela, Reiter shared, “Graciela’s expertise in addressing the Mexican consumer and retail environment will be invaluable to Driscoll’s as we navigate increasing consumer demand in this important growth market. Her experience in consumer brands, especially in the health and nutrition sector, will bolster Driscoll’s capability and success in markets around the globe.”

In the small business sector, GrubHub has been working to support women-led restaurants. Four years ago the company launched RestaurantHER, a platform that connects women-led restaurants and empowers them to bridge the wage gap among women in the restaurant industry. And this year they are expanding and focusing an eye on supporting Latina-led restaurants, Forbes reported

Lastly, on the government level, supporting Latina business owners and entrepreneurs through funding and legislation is crucial to unlocking the economic value of Latinas. Appointing Latinas to government leadership roles is also incredibly important. This past year we have already seen great improvements such as with the appointment of Latina Isabella Casillas Guzman as SBA Administrator and various government programs dedicated to supporting minority-owned businesses. 

You might be interested: Stacie de Armas on breaking stereotypes and advocating for Latinas

President Biden’s American Rescue Plan Act is pivoting to funnel more aid and relief toward minority-owned small businesses that have been impacted by the pandemic. The Act will help small businesses recover post-COVID by providing critical assistance to businesses across the country and delivering $50 billion in aid and relief. 

In New Jersey, the Murphy Administration is working to provide greater opportunities for minority, women, and veteran owned businesses through various key initiatives. These initiatives include a disparity study–the first in 20 years–to identify ways in which the State can contract Minority, Women, and Veteran-Owned Businesses (MWVOB) to provide goods and services. 

“This disparity study is not only long overdue, it is an integral part of our vision for a stronger, fairer, and more resilient, post-COVID economy that opens doors for diverse businesses to play a greater role in shaping our state’s future,” said Governor Phil Murphy. “This study will provide us with an opportunity to create a more equitable business environment, which is a win for us all.”

Other NJ organizations, such as New Jersey Economic Development Authority (NJEDA) and NJ FAM are also providing resources and access to capital for Black and Latina business owners through the development of various funds and programs. 

In a recent Instagram Live, NJEDA CEO Tim Sullivan and digitalundivided CEO Lauren Maillian,  spotlighted the recently-proposed Black and Latino Seed Fund, which the NJEDA intends to create to drive capital to Black- and Latino-owned enterprises. 

A recording of the entire chat can be viewed below. 

 

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With many big name companies and government initiatives taking a chance on Latinas, the future is looking promising. Numbers show that Latinas are an industrious, innovative group, taking the lead in recent years as the fastest growing demographic of small business owners. 

It’s clear that the economic power of Latinas has been overlooked for too long. From small businesses to corporate, Latinas hold tremendous power and abilities. Wherever a Latina goes, she brings with her a special touch, her unique perspective, and a whole lot of passion and drive. And the untapped economic value of Latinas is just what the U.S. economy needs to reboot and recover post-pandemic. The time to take a chance on Latinas is now, and it is long overdue. 

latinas in business

Latinas in Business all hands in for a brighter future

What an incredible journey this year 2020 has been! Challenges like the pandemic, an economic crisis and social unrest gave Latinas in Business the opportunity to reach and impact more lives of Latinas across the country than ever. It’s now December, and we are closing a year that has been everything but boring, ending it with a mix of good news and bad news.

latinas in business

 

Good news first

Good news first, the COVID-19 distribution of vaccines has started around the country and the world so there’s hope that soon we will be on our way to the “new normal.”

Covid19 vaccine

COVID-19 vaccination at University Hospital in Newark, NJ. (Photo credit Kirsten Luce for The New York Times)

You might be interested: COVID19 Vaccination marks historic day in New Jersey

Latinas in Business has grown exponentially this year, and achieved many of the goals we had for FY 2019-2020 including extending our national footprint and completing our Executive Board.

After some hesitation due to the shock of the ”first wave,” we immediately recognized the Power of Collaboration as the beacon theme for this year.

We quickly pivoted our programs to virtual encounters and in July we launched the Women Entrepreneur Empowerment Summit virtually, with the participation of national and international organizations and over 700 views.

We ended the year with a tremendous opportunity to lead A National Conversation with Latina Leaders, 23 supporting organizations, and the presence of Keynote Speaker Maria Elena Salinas. We reached over 2400 viewers!

You might be interested: Maria Elena Salinas to be Keynote Speaker at Regain Our Latino Power virtual event

Strengthening the digital presence of our publication, LatinasinBusiness.us, we reach now almost 12,000 subscribers, publishing up to 5 times a week. So far 38 Latinas have been featured on our Spotlight Latina Leader of the Month. We also reached over 1800 members nationwide.

We launched our paid membership program and our affiliate marketing programs, intended to provide editorial and promotional value in a community that needs more help than ever!

Bad news second

My thoughts go first to all those who lost their loved ones this year. If death always seems unfair, losing a love one because of leadership inadequacy and negligence is not only unacceptable but also should be accountable. The worst legacy of the current Presidency is the continuous emotional roller coaster that has put the country and the world through, undermining the values and traditions this country and its governing system was built on.

Latinxs die in isolation covid19, latinas in business

Photo courtesy Graham Ruttan – unsplash.com

You might be interested: November 1 National Day of Remembrance of Latinxs killed by Covid-19

For frontline workers, my warmest wishes to those who have selflessly put their own lives on the line to save others, to protect even those who acted irresponsibly. They are the s/heroes that have, in many cases, left their own homes and families to protect those of others.

For real small businesses, especially Latinas and other minority women entrepreneurs, this has been a year of death or survival.

According to recent news, Latino companies that applied for the Paycheck Protection Program saw a 21% drop in revenue from February through September while their costs for PPE and other safety measures rose and continue to remain high.

Additionally, they extended their spending to stay open and ended with a negative 11% margin. They are now cash flow negative and are on the brink of going out of business, the annual Latino Small Business Biz2Credit survey reveals.

You might be interested: How systemic racism is costing the U.S. trillions

In a glooming and already unequal environment -even before the pandemic-, from solopreneurs under the risk of losing their homes to small enterprises letting go of all their hired labor, it is estimated that around two-thirds of Latino businesses will close their doors for good.

The  recently announced $900 billion package will not rescue these businesses. The additional funding might last 3 months at the most, and this amount will not get them through the end of the pandemic.

You might be interested: Immigrant mixed-households to receive stimulus checks

Although we have great hope that the new Administration will return this country to sanity and to world leadership, we are still not at the end of the tunnel. So don’t count your money until it is in the bank!

The best for last

Lastly, we recruited 6 unstoppable Latinas, corporate, entrepreneurs and community leaders in their own right, for our Executive Board of Trustees. What an honor to be on this journey with such amazing ladies!

We will continue to push hard to advocate for the economic empowerment of Latinas and other minority women entrepreneurs and working women who had lost their jobs and/or their childcare, and are dealing with enormous levels of stress and uncertainty.

latinas in business, executive board

You might be interested: Introducing Latinas in Business Inc. Executive Board Members

We are inviting you to participate in an unique opportunity to contribute to aid this problem, and help these businesses return to work. We are scaling our budget to include our Founding Corporate Advisory Board, a group of volunteers from prestigious partners to help us achieve our LATINA$GROW Recovery Fund Program.

Susana G BaumannDetails for this program are being discussed with some powerful allies and influencers, and we would be happy to share additional information with you if you’d be interested in being a part of our efforts.

Not one organization will be able to achieve all the work that needs to be done, so more than ever, the power of collaboration continues to be the only way out. We are in this together, we will get out of this together!

How the future looks

I foresee a great future for our ambitious goals. Only 2 years into our nonprofit status, we are already stepping on solid ground to grow at national and international levels.

Please consider to support this unique vision from Latinas in Business Inc., an organization that has proven to be here to stay. Join us in this fantastic venture to continue impacting the lives of thousands of Latinas and other minority entrepreneurs, professional and corporate women who are struggling to succeed in this economic crisis.

Let’s bring our future to a great start in 2021, and as always, thanks for your continuous support!

Thanksgiving, Latinas in Business

A Thanksgiving message from Latinas in Business

Thanksgiving became a new tradition for our family when we arrived as immigrants from Argentina 30 years ago. We embraced it as one of our favorite Holidays, a more relatable spiritual tradition about being grateful and sharing food -also a way of showing love in our Latin American traditions- than exchanging lots of presents or singing carols we hardly knew.

It is now November and Thanksgiving opens the Holiday Season. What an incredible year we are living this 2020!

As we celebrate this holiday, at Latinas in Business, we have many reasons to be grateful for. It is almost a miracle that we have grown in a year like this one, and achieved many of the goals we had for FY 2019-2020.

Thanksgiving, Latinas in Business

Latinas in Business Executive Board

Who would have thought that challenges like the pandemic, an economic crisis and social unrest would give us the opportunity to reach and impact more lives of Latinas across the country.

After some hesitation due to the shock of the ”first wave,” we immediately recognized the Power of Collaboration as the beacon theme for this year. We quickly pivoted our programs to virtual encounters and in July we conducted our first virtual Women Entrepreneur Empowerment Summit, with the participation of national and international organizations and over 700 views.

Strengthening the digital presence of our publication, LatinasinBusiness.us, we reach now almost 12,000 subscribers, publishing up to 5 times a week. So far 38 Latinas have been featured on our Spotlight Latina Leader of the Month. We also reached over 1700 members nationwide.

You might be interested: Thanksgiving a tradition Latinos learn to cherish

We ended the year with a tremendous opportunity to lead A National Conversation with Latina Leaders, the presence of 23 supporting organizations, and our Keynote Speaker Maria Elena Salinas. We reached over 2400 viewers!

Regain our Latino Power, Thanksgiving

And we are not done yet! As you saw in our cover, we have recruited 6 unstoppable Latinas, corporate, entrepreneurs and community leaders in their own right, for our Executive Board of Trustees. What an honor to be on this journey with such amazing ladies!

It is only fair to also mention the excellent work of our team, starting with Victoria, recently promoted to Editor, who started three years ago as our editorial intern; Maria Jose, our new Social Media Director; and Sharisma, who recently joined as Outreach Coordinator. These ladies are helping expand the Latinas in Business blueprint in so many directions, with great content and laser vision.

I foresee a great future for our organization. Only 2 years into our nonprofit status, we are already stepping on solid ground to grow at a national and international levels.

Join us in this fantastic venture to continue to impact the lives of thousands of Latinas and other minority entrepreneurs, professional and corporate women who are struggling to succeed in this economic crisis.

Let’s do this together! And as always, we are very grateful for your continuous support.

The Latinas in Business Team 

JOIN US of our Facebook Page WE ARE LATINASINBUSINESS.US

Latinas in Business Inner Circle

Latina Equal Pay Day is a call to action

Latina Equal Pay Day — the day when Latina pay catches up to that of White, non-Hispanic men from the previous year. This year it is being observed on November 29, 2020.

More than 50 years after the passage of the Equal Pay Act of 1963, Latinas typically earn only 54 cents for every dollar earned by White, non-Hispanic men and must work more than 22 months to earn what white men earn in 12 months. Indeed, given that this is the last “Equal Pay Day” observance of the year, Latinas must typically work longer than … everyone.

latina entrepreneurs, latinas in business, latinas in the workplace

Latina entrepreneurs are the slowest growing demographics in revenue and economic growth. 2019 Latina SmallBiz Expo participants. 

This disparity hurts not only Latinas, but also the families and communities they support. In 2017, this is unacceptable. We need to act now and let everyone know that we support #LatinaEqualPay! Join the women’s rights community, Latino advocacy organizations, the labor movement and workers’ rights advocates  for the #LatinaEqualPay Day.

Blog contributor Corine Sandifer covers thoroughly the facts on this important issue and the actions to be taken to close this 47% pay gap that hurts Latino families, and follow Latinas into retirement. Read on!

We will be on Twitter, Instagram, Facebook, and LinkedIn using the primary hashtag #LatinaEqualPay and secondary hashtags #Trabajadoras, #EqualPay and #LatinxEqualPay. A toolkit including educational resources, sample promotional tweets, info-graphics, and memes can be found at http://www.latinaequalpay.org/.

Latina equal pay day

Click on the picture to find out how to join in the Call to Action – Latinaequalpay.org

People are overly optimistic about the state of Latinas 

Over four in ten white men think obstacles to advancement for Latinas are gone, but just 32% of Latinas agree. Moreover, nearly 62% of people who are not Latino think that racism, sexism, or both are uncommon in their company. Yet 51% of Latinas say they’ve experienced discrimination at work taken from a Survey by SurveyMonkey conducted on March 22-27, 2018.

This reality is what Latina’s in the U.S. face every day, and it’s holding us back from reaching our highest ambitions and our toughest goals.

2020 Latina Equal Pay Day

Is it because Latinas choose worse paying jobs? 

Many people think the gap exists because Latinas choose worse paying jobs. A third of Americans believe the gap occurs because Latinas work in occupations that don’t pay as much – and four in 10 white men think so. Only 20% of Latinos agree with that assessment yet when Latinas are in the same careers as white man they are paid significantly less. It is important to note that Latinas are overrepresented in low-wage jobs, and underrepresented in high-wage. What is frustrating for me is that they are still paid less than white men in the exact same jobs, even when they have high-wage jobs.

The unfortunate double discrimination

Latinas face unique challenges in the workplace. They are subject to biases for being women and biases for being people of color. This kind of double discrimination can intensify common biases faced by Latinas, but it can also play out in distinct forms of bias not faced by women more broadly.

latinas equal pay day

Read the new report from Lean In and McKinsey & Company https://womenintheworkplace.com

Turn Awareness into Action

These stats are pretty upsetting. We cannot sit back and let this go unnoticed. Obviously, we still have a long way to go to close this wage gap for Latina women. There are ways for all of us (not just Latinas) to fight this wage gap. Here are just a few call to action provocations.

  • Many Equal Rights Advocates are taking the lead on implementation and enforcement efforts related to the Fair Pay Act. Find out who they are in your city.
  • Vote at this year’s election on November 6.
  • Tell your representatives in Congress to vote for legislation that will close the Latina Wage Gap.
  • Read and Share the LeanIn.org & McKinsey annual study on Women in the Workplace
  • Support your Latina co-workers & friends (If you don’t have one, connect with me on LinkedIn or Instagram)

You can also turn awareness into action by joining a Lean In circle and taking strides toward a more equal world. Lean In Circles are small peer groups that meet regularly to share ideas, gain skills, seek advice, and show solidarity. They’re a place where women can be unapologetically ambitious. Being in a circle has allowed me to ask for what I want and to aim higher. I am supported by a whole world of powerful women.

This article was also published on LinkedIn On October 31. 2018 and has been updated to October 29, 2020. 

 

 

Introducing Latinas in Business Inc. Executive Board Members

In a simple virtual ceremony last Friday, five new Trustees were sworn in to Latinas in Business Inc. Executive Board. The 2020 Annual Executive Board Meeting welcomed member’s Beth Marmolejos, Pilar Avila, Danay Escanaverino, Adriane Medeiros, and Maria Santiago-Valentin into their new positions as Board Members. 

Present also was the Founder President and CEO, Susana G Baumann, and one of the Founder Board Members of the organization, Brenda Nava. Brenda now leaves the position of Treasurer to stay on the Board as a Committee Member and passes the torch of Treasurer on to Pilar Avila. 

Executive Board

Latinas in Business Inc. Executive Board Members

On the new Executive Board, Baumann said:

“I’m ecstatic that this group of unstoppable Latinas are coming in to strengthen and grow our organization at a national level. We are extremely grateful for their time and efforts, which are already bringing results in the crucial event we are launching this October 16 and October 23 to energize the Latino Vote. This was my vision for Latinas in Business, a group of young and determined Latinas who will take the torch, the symbol of our logo, and run with it. My legacy as a woman, mother, Latina and immigrant will remain in an organization by Latinas and for Latinas.” 

Introducing the LIB’s Executive Board 

Brenda Nava, Founder Executive Board

Brenda Nava, Founder Executive Board 

Brenda Nava is an avant-garde Hispanic entrepreneur who entered business at the age of 23. Currently the owner and founder of various businesses, including CEO at Daniela Events and CEO at Dafer Business Development Solutions.

With degrees in International Business, Accounting, Taxes and Business Development, Brenda is focused on sharing her experience and knowledge with her community. With several years of experience in the business field, she knows that education is an important foundation for the success of every entrepreneur and is committed to being an example and supporting the development of the community.

Beth Marmolejos, Programs and Events Coordinator & LIB Vice President 

Beth Marmolejos is a business leader, activist, and advocate who strives toward serving as an champion for change daily in both her personal and professional life. Beth serves on numerous boards that support and serve these communities. Some of her positions include  Madame Chair of the Passaic County Workforce Investment Board, Chair of the Passaic County Advocacy and Abilities Committee and Diversity & Inclusion Chair of the American Association of University Women – Greater Wayne Area, and President of the New Jersey Prospanica Chapter, formerly known as The National Society of Hispanics MBAs. 

Pilar Avila, Governance & Treasurer

Pilar Avila, Governance & Treasurer 

Pilar Avila is the founder and host of interDUCTUS, an organizational change management consulting practice, & Renovad, which provides experiential retreats to countries around the world. She is a passionate human striving for higher self-awareness, health, happiness, living free, eradicating judgment and lifting every living being with compassion. As a business and civic change leader, Pilar is strategic, innovative and results-oriented. She launched  interDUCTUS & Renovad after over 26 years providing leadership at institutions across private equity, hospitality, and nonprofit sectors. 

 

Danay Escanaverino, Marketing and Outreach

Danay Escanaverino, Marketing and Outreach

Danay Escanaverino is the CEO of LunaSol Media, a digital agency she has owned for 9 years to help brands connect with Hispanic consumers online. She is also the Founder of MiraClick, an affiliate network for Hispanic and Latino bloggers and creators to monetize their following with campaigns made for Latinos. She is passionate about marketing and technology and her goal is to  help Hispanic entrepreneurs expand their reach through her expertise and services and specifically expand the Hispanic market and unite and support Hispanic businesses. 

Adriane Medeiros, Trustee

Adriane Medeiros, Trustee 

Adriane Medeiros is a Financial Services Professional with New York Life Insurance Company and specializes in life insurance and retirement investment planning. She is a tremendous resource to our community, offering financial tips, seminars, and one-on-one appointments in financial and investment planning. Originally born in Brazil, she has lived in New Jersey for over 32 years and has a degree in Business with a minor in Economics and Finances, from Kean University in New Jersey. Adriane strives to help all her clients achieve a life of abundance and financial empowerment through investment planning so that they can support their families for generations to come.

classroom inclusion

Maria Santiago-Valentin, Trustee

Maria Santiago-Valentin, Trustee 

Maria Santiago-Valentin is a fierce activist, educator, and author who uses her platform to advocate for quality education, classroom inclusion, and environmental causes. A passionate, energetic and creative educator with over twenty-five years of experience in her field, she has taught in Puerto Rico, Connecticut, and New Jersey, and has been recognized for her achievements nationally and internationally. One of the founding members of CURE  — Community United for the Renaissance in Education– a bilingual parent advocacy group working to improve the educational system in New London, Connecticut, Maria has dedicated her life to making the pursuit of knowledge accessible to all. She is also the founder of the NJ Coalition for Climate Justice, an organization that works to bring together social justice movements with environmental movements.

Upcoming event: Regain Our Latino Power 

The main topic of discussion at the year’s Annual Executive Board Meeting was the upcoming virtual event: Regain Our Latino Power. The multi-day event will take place on the two upcoming Fridays: October 16th and October 23rd. 

With less than six weeks until the election, Regain Our Latino Power will focus on discussions about Latinxs essential workers, Latinxs and the economy, Immigration Reform, Deportations and Incarceration of Latino Children and more. The event will also feature guest speakers from Latina Leaders including Keynote Speaker, Maria Elena Salinas. 

We are calling YOU and all Latina leaders because these are URGENT TOPICS TO DISCUSS.

Register now for this FREE virtual event! 

TENTATIVE AGENDA

Friday October 16, 2020 12pm to 2pm EST – 9am to 11am PST

  1. COVID-19 AND ESSENTIAL WORKERS: More protection for Latinxs frontline workers in factories and farms dying of COVID-19; more testing, sick-time leave and protection equipment.

Sign our petition to both Houses of Congress

  1. INCARCERATION OF UNDOCUMENTED CHILDREN: We demand the immediate freedom of ALL immigrant children held at deportation facilities where COVID-19 has been detected. They are victims of abuse and neglect; their lives are in our hands, and they are OUR children!

Sign our petition to both Houses of Congress

  1. FINANCIAL ASSISTANCE FOR FAMILIES: We request additional financial assistance for families who lost their jobs by no fault of their own; both parties are dragging their feet in approving funding to help families with essential needs.

Sign our petition to both Houses of Congress

Friday October 23, 2020 12pm to 2pm – 9am to 11am PST

  1. IMMIGRATION REFORM: Stop massive deportations that hurt regional economies and break immigrant families. Immigrants bring significant income and tax revenue to regional economies, while provide vital work that bring food and essential products to our homes and our tables

Sign our petition to both Houses of Congress

  1. SMALL BUSINESS FINANCIAL ASSISTANCE: Finally, we also request immediate forgiveness for small businesses who received PPP Loans of $150,000 or less. Latinas and other minority women entrepreneurs are closing their doors every day. They need OUR help!

Sign our petition to both Houses of Congress

6. WHAT’S NEXT FOR LATINOS IN THE USA? How will future generations of Latinxs live and succeed in this country? What is left of the AMERICAN DREAM?

count on me

2019 COUNT ON ME Awards nominations are now open

count on me awardsNominations for the 2019 COUNT ON ME Awards are now open to recognize companies that “lean in” for minority women entrepreneurs.

Latinas in Business Inc., the national non-profit organization that advocates for the economic empowerment of Latinas and other minority women entrepreneurs, has announced that nominations are now opened for its 2019 COUNT ON ME Awards to recognize companies and government programs that impact growth of minority women entrepreneurs.

The 2019 COUNT ON ME Awards is a new recognition to companies and government agencies that design and implement specific programs, products or services for Latinas and other minority women entrepreneurs. The Nomination process opens September 15 and closes October 31, 2019. Awardees will be honored at the WINNERS Reception during the Latina SmallBiz Expo & Pitch Competition to take place on November 8 at the Culinary Conference Center, 161 Newkirk St, Jersey City, NJ from 5pm to 10pm.

“Women of color receive less than 1% of VC and Angels Investors funding every year and get little attention towards other services and resources they need, creating a $70+ billion gap in economic growth -compared to their White male and female counterparts,” Susana G Baumann, Latinas in Business Inc. President and CEO, said.

The goal of this award is to place the spotlight on those companies that make an extra effort in Diversity & Inclusion, Supplier Diversity, Procurement, Government Programs, MWSB Certification, business services, women’s funding and the like, and reward them for their efforts while encouraging other companies to increase attention to this small business demographics with great economic potential.

NOMINATE YOUR COMPANY 

“This year we have opened 7 main categories in which companies can be nominated. However, we expect that in the future, we can expand these categories to be more specific and complementary of the companies that ‘lean in’ for women of color entrepreneurs,” Baumann said.

The Nomination requries a brief explanation of how the company proves their efforts to impact these business growth based on facts such as program growth, increased customer base, loans approved and the like within this demographic.

count on me

All Nominations include:

  • 2 tickets to the WINNERS Reception ($90 Value) for the Investors Panel, Pitch Competition, Awards Ceremony and 5TH Anniversary Cocktail Reception;
  • Special mention at the Expo
  • 20% discount for Exhibitor’s Table at the Latina SmallBiz Expo
  • Nominees with company’s name and description will be included on the LatinasinBusiness.us COUNT ON ME Special Edition (December 2019).

For additional information and to nominate your company, NOMINATE YOUR COMPANY 

You might be interested: US Hispanic businesses reach staggering numbers: 4.37 million and counting

First Lady of New Jersey

First Lady of New Jersey emphasizes women entrepreneur leadership at Latina conference

First Lady of New Jersey Tammy S. Murphy addressed women’s leadership at 2019 Entrepreneur Empowerment Lunch organized by Latinas in Business Inc.

latinas in business

Latinas in Business receives NJ and NY decision-makers at the 2019 EEL in Jersey City

Latinas in Business, an organization that was born only 4 years ago, is launching its second annual event, the 2019 Entrepreneur Empowerment Lunch.

Abasto Magazine Latinas in the USA

LatinasinBusiness.us and Abasto Magazine join efforts to support Latinas in the USA

We are celebrating Small Business Week with this great announcement! The reason to join efforts? Latinas in the USA are the largest growing demographics entering the labor force, opening businesses and increasing their economic power but their rise to decision-making position still lags behind other minorities.

It is with great pleasure that I introduce you to our LatinasinBusiness.us column in Abasto Magazine. You and I will have an opportunity to get to know each other, connect on the important issues that affect Latinas today, discuss trends and innovative solutions for your business or career, and find common ground to help each other grow.

Susana Baumann Tell your Story

Susana G Baumann, Editor-in-Chief LatinasinBusiness.us

A little over two years ago, I launched LatinasinBusiness.us with the vision to build, support and empower a community of Latina professionals, those in the corporate track and small business owners. After over 25 years of working in corporate America, the State of New Jersey and finally starting my own business, I felt that my experience of struggle and success could be of use for many. As a Latina, I was ready to give back one more time.

The experience has been riveting, to say the least. At a professional level, it has allowed me bring a small contribution to the struggle of Latinas around the country. At a personal level, it has also allowed me to meet hundreds of young Latinas like you who truly are the future of this country.

Are Latinas in the USA making history?

I started my business at a time when being Latino was not “cool” as it is today! Even if we still have many steps to climb and milestones to achieve, we have made strides in every industry, field and activity. Nevertheless, we need to keep going!

 

Unfortunately, women in general and Latinas in the USA in particular are still falling behind in many aspects of their professional, career or business development. We need to work harder and smarter in these areas:

Leadership: One in five women in this country is a Latina. However, there are no Latina CEOs among the Fortune 1000 companies and less than 3 percent of board directors at Fortune 500 companies are Asian, black or Hispanic women. Women hold only 19 percent of Congressional seats. The first Latina elected to the Senate was sworn in 2017 and just a few more made the House this year as well.

Business: The fastest growing demographics opening businesses, Latinas in the USA represent 36 percent of women owned businesses with receivables of approximately 71 billion (2014). However, Latinas grab a very small portion of five percent Federal contracts awarded last year to women –for the first time in the history of the SBA- and have the least access to capital of all minority business owners.

Corporate America: In the workplace, the numbers do not look much better. One in seven women is Latina in the workforce and they are projected to be over 17 percent by 2022. However, the outcome is poor: One-fourth of Latinas in the USA live below the poverty line and more than half are living in near-poverty with a pay inequality gap of almost 56 percent.

Education: Latinas in the USA have surpassed their male counterparts in educational achievements. However, they still lag behind other minorities in attaining a high school degree, and only 19 percent complete a college degree. They get the crumbs when it comes to employment or promotions with only fewer opportunities to access decision-making, high-paying positions.

Buying power: Latino buying power has increased 167% in the 15 years expected to reach 1.7 trillion in 2020. Primarily Latina moms make all financial and buying decisions in the family.

Health: Health disparities are rampant among Latinas, with the highest rates of death for breast cancer, heart disease, diabetes, and high blood pressure.

Retirement: The financial and economic gap follows us into old age, becoming the least protected demographic among all minorities.

 

Not all hope is lost

This evidence is not the only reason that compelled me to launch LatinasinBusiness.us. On the contrary, a deeper knowledge of a vibrant and competent community of talented Latina women, working hard at achieving their potential, was the main reason to create this small window of opportunity: to encourage, promote and bring to the front these wonderful stories of Latino women building family, businesses and communities around them.

Not one person or one movement can achieve this huge task alone. We need to keep holding hands and helping those just starting or on their way up to achieve their best potential because when one raises, the others follow.

Abasto Magazine is giving me today the opportunity to meet with all of you on these pages, tell your stories, and bring discussions to the forefront –the hard difficult questions we need to ask and answer. For that, I need your help: to reach out to me and share your dreams and your achievements but also the difficulties and the battles you have encountered along the way so we can all learn from each other.

Remember: ¡La unión hace la fuerza! We do not need to wait for opportunities to come our way but we need to create them for ourselves. I did it for over 20 years, you can do it too!