Posts

2021 Latinas in Business highlights

2021 Latinas in Business highlights and most-read articles 

Our 2021 Latinas in Business Highlights and Most Read Articles are here!

Another year comes to an end and we close another chapter. Before we jump into the new year, first let us take a look back at some 2021 highlights and reflect on the stories we have shared here. 

Throughout everything, we as a community have risen to challenges and collaborated together to uplift each other throughout pandemic hardships.

Each year we strive to set the bar higher and this year was no different here at Latinas in Business Inc. We are so blessed and honored to have such an amazing community of readers, supporters, and collaborators. We thank you so much! Gracias! 

Now, here are the 2021 Latinas in Business highlights and most-read articles on LatinasinBusiness.us, our dedicated editorial platform that promotes and empowers Latinas and other minority women entrepreneurs.

2021 Latinas in Business most-read articles 

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)

In March, we celebrated Equal Pay Day and learned that the gender wage gap for Latinas may take more than two centuries to close if we continue to do nothing.

Women working full-time, year-round are typically paid just 82 cents for every dollar paid to men. That is just the statistic for women in general, but the gender wage gap is much wider for minority women, especially Latinas who only make 55 cents for every dollar earned by white, non-Hispanic men. To put it another way, a Latina woman must work 23 months to earn what white men earn in just 12 months.

To learn more about the wage gap for Latinas and what we can do to close the wage gap, see our full article.

Later the year, Key Insights from the 2020 State of Latino Entrepreneurship Report showed us how Latino entrepreneurs are succeeding and advancing, and also where we can work to improve.

According to the report, released by Stanford Graduate School of Business in collaboration with the Latino Business Action Network,  Latino-owned businesses are becoming the fastest-growing segment of the U.S. small business ecosystem.

Additionally, the number of Latino-owned businesses has grown 34% over the last 10 years compared to just 1% for all other small businesses. Were it not for the growth in the number of Latino-owned firms, the total number of small businesses in the U.S. would actually have declined between 2007 and 2012.

We also learned that Latina-led companies have struggled the most during the pandemic, experiencing more closures and lay-offs compared to Latino-led companies (30% versus 16%). See here to read the full report.

translation services, Unida Translation

Ivana and the Unida team.

This year readers enjoyed learning how Ivana Sedia is working to help connect people and transcend borders through her language translation service, Unida Translation. Her company delivers both spoken and written word translation services in over 125 languages for projects in the certified, legal, government, medical, and technical fields.

Ivana’s business grew out of a hobby and passion for translation and language learning. With experience with writing in Spanish and English and working for the government by assisting non-English speaking immigrants, an MBA in management, and a Bachelor of Arts in Communications, International Relations and Diplomacy with a minor in Italian, Ivana taught Spanish and Italian lessons. She then decided to use her language skills to help transcend borders for businesses and organizations in need of translation services.

Read her full story here!

Latina researcher and founder of Stratified Insights, Dr. Marlene Orozco, shares the importance of data in demystifying misconceptions about Latinas.

In July, Latina researcher, Dr. Marlene Orozco shared the importance of data in demystifying misconceptions and biases about Latinas.

As mixed methods researcher by training, Marlene has over 250 hours of in-depth interview experience and quantitative expertise in big data.

Throughout her years of education training in the field of research, Marlene has used her research as a tool to make a real-world impact, especially for minority small business owners and entrepreneurs. Her research is guided by her passion for education and economic equity and exploring pathways of mobility for immigrants, women, and entrepreneurs from underrepresented backgrounds.

Latinas are often misrepresented, undervalued, and unappreciated in the professional world. These unfair biases have an impact on the rate of success for Latinas and other minority groups. Through hard data, showing the successes of Latina women in the professional world, Marlene is working to end these biases and misconceptions. Learn more here! 

Jennifer Garcia, founder of Fluential Leadership. (Photo courtesy Jennifer Garcia)

Finally, readers were eager to learn from Jennifer Garcia’s inspiring story where she shared how she left her secure job to launch her dream business.

A multi-faceted business professional and leadership coach with a passion for empowering people and transforming businesses, Jennifer founded Fluential Leadership, a business and leadership consulting firm focused on elevating small-to-medium-sized business performance through developing and executing growth strategies, recruitment, and retaining talent.

Like many entrepreneurs, Jennifer was driven to start her own business out of a desire to pursue her passion and make an impact. For fourteen years, Jennifer worked in the finance industry and in a variety of leadership roles at Bloomberg, a global financial data provider. However, she wanted to make a greater impact and use her expertise as a leader and consulting coach to help others achieve their own career goals and dreams.

Following her dream, Jennifer launched her company, stepping into the unknown leaving the comfort, certainty, and stability of her career. Continue reading about her full journey into entrepreneurship here.

THRIVE! 2021 Women Entrepreneurs Empowerment Summit highlights 

Another huge 2021 Latinas in Business highlight for us was our annual empowerment event. Entrepreneurs, business owners, and industry leaders gathered in June to THRIVE! for the third annual Women Entrepreneurs Empowerment Summit, a unique conference that year after year gathers successful Latinas and other minority women entrepreneurs to Learn. Connect. Succeed!   

Latinas in Business Inc. CEO and President Susana G. Baumann with board members.

This year, the summit focused on key areas of growth to connect and empower women business owners with tools and insights to propel them forward in the wake of the COVID-19 pandemic so they can grow their businesses to the next level. 

This amazing event featured stellar guest speakers, inspiring panels with industry leaders, and motivating deep-dive workshops and group discussions that connected and inspired Latina and other minority women entrepreneurs, empowering them to take the next step in achieving their business goals and turn their dreams into actionable business plans. 

We ended the 2021 Women Entrepreneurs Empowerment Summit with the Latina Leaders Award Ceremony, broadcasted live from New York City. It was a beautiful and touching moment where we saw 12 influential Latina Leaders from the past year honored for their success as entrepreneurs and community leaders. 

Assemblymember Rodneyse Bichotte Hermelyn alongside Daneida Polanco of Univision.

The stunning Daneida Polanco of Univision presented the awards alongside Latinas in Business’s CEO and President, Susana G Baumann in a heartwarming ceremony that gathered and celebrated not only our Latina Leaders but Latina entrepreneurs everywhere. 

The 2021 Women Entrepreneurs Empowerment Summit was certainly a night to remember and we cannot wait for the events to come in the new year! 

Thank You! 

Looking back on our 2021 Latinas in Business highlights and most read articles reminds us of what an amazing and inspiring community we have here. Once again, we are so very grateful for all the support from sponsors, hosts, supporters, collaborators, and reades that allowed us to continue our mission to advocate for the economic empowerment of Latinas and other minority women entrepreneurs.

Thanks for your support and Happy Holidays to all from us! See you in the New Year!

Latinas in Business Inc. Team

Dr. Marlene Orozco demystifies misconceptions about Latinas through data 

Latina researcher, Marlene Orozco shares the importance of data in demystifying misconceptions and biases about Latinas. 

Dr. Marlene Orozco is the Principal Investigator and CEO of Stratified Insights, a Latina-owned research consulting firm that provides academic grade research solutions to organizations from research planning and design, data collection and analysis, to reports and presentations tailor-made for key stakeholders. 

Recently, Marlene was a guest speaker at our third annual Women Entrepreneurs Empowerment Summit last month where she shared key insights and data from the 2020 State of Latino Entrepreneurship report.  

We are honored to have the opportunity to share her amazing story with you today and how she is using her research to help demystify misconceptions about Latinas in business and entrepreneurship.

Latina researcher and founder of Stratified Insights, Dr. Marlene Orozco, shares the importance of data in demystifying misconceptions about Latinas.

As mixed methods researcher by training, Marlene has over 250 hours of in-depth interview experience and quantitative expertise in big data. She holds a Ph.D in Sociology from Stanford University, a Master’s in Education Policy and Management from the Harvard Graduate School of Education, and a B.A. with honors in Sociology from Stanford. 

Throughout her years of education training in the field of research, Marlene decided to use her research as a tool to make a real-world impact, especially for minority small business owners and entrepreneurs. Her research is guided by her passion for education and economic equity and exploring pathways of mobility for immigrants, women, and entrepreneurs from underrepresented backgrounds. 

Marlene’s work has been featured extensively, appearing in over 100s of media outlets including Bloomberg, MarketWatch, Forbes, NBC News, CNN en Español, and Univision, among others. She is also the lead editor and co-author of an academic volume, Advancing U.S. Latino Entrepreneurship, and has written academic publications in peer-reviewed journals in addition to several industry reports and research briefs. 

Additionally, Marlene’s tremendous skill and success has been recognized through various accolades such as being named 40 Under 40, Top Young Professionals by Silicon Valley Business Journal and presented the Stanford Community Impact Award by the Stanford Alumni Association. 

Demystifying misconceptions about Latinas through data 

It’s no secret that Latinas are often misrepresented, undervalued, and unappreciated in the professional world. Latinas are also the most underpaid group of women, making on average only 55 cents for every dollar earned by a white, non-hispanic man. Latinas have to work harder than almost every other group just to get the same recognition and struggle to gain access to resources such as capital to grow their businesses. These unfair biases have an impact on the rate of success for Latinas and other minority groups. Many feel isolated and hopeless when they see themselves and people like them failing to advance in their professions. 

This is why information and data is important. According to the 2020 State of Latino Entrepreneurship Report, the number of Latino-owned businesses has grown 34% over the last 10 years compared to just 1% for all other small businesses. In fact, Latino-owned employer businesses are growing revenues at a faster rate than White-owned employer businesses. Moreover, much of the growth in the number of new businesses among Latinos has been driven by women. Latinas represent 40% of all Latino business owners and the number of Latina-led employer firms has grown 20% within the last five-year period.

When we asked Marlene what pushed her to launch her own research consulting firm, it was the desire to see her research have a real-world impact. 

“As a Latina who appreciates the power of data, I seek opportunities to demystify misconceptions about Latinas’ contributions to society with hard facts.” (Photo courtesy Marlene Orozco)

“In the middle of graduate school, I was starting to feel unfulfilled by the lack of real-world impact that my research was having,” she told Latinas in Business. “Through much of my rigorous, academic training in producing peer-reviewed publications, I found that this research would largely live within the ivory tower. I started my company in December 2019 to bridge academic research grade solutions to industry needs. My first major client was the National Association of Investment Companies, where I produced a white paper on the state of growth equity for minority businesses as part of an initiative supported by the Minority Business Development agency to aggregate billions of dollars of growth equity capital to invest in ethnically diverse and women-owned business enterprises.” 

As a Latina, who appreciates the power of data, Marlene seeks opportunities to demystify misconceptions about Latinas’ contributions to society with hard facts. 

“I thus have a strong philosophy that reminds me to document my small wins. This philosophy is to never assume your work speaks for itself,” she says. “While I pride myself in the outputs that I produce, it is important that we communicate the milestones and successes along the way. Being able to readily produce these metrics are critical in instilling confidence in your clients that you can get the job done but also keeps you encouraged about the work that you are doing.” 

Marlene Orozco speaking as Keynote Speaker at the 6th annual State of the Latino Community in Sonoma County hosted by Los Cien. (Photo courtesy Marlene Orozco)

Along with her research work, Marlene provides coaches and provides expertise to reduce system-level bias facing women and people of color who are entrepreneurs, fund managers, or in the investment field through her position as a founding board member of CRESER Capital Fund and an Illumen Capital Ambassador. 

“We cannot do this alone” 

Marlene is a big believer in the power of community. As an entrepreneur, coach, and researcher she herself has experienced the immense benefits that come with being part of a community groups and networks. 

“I have been very fortunate that I am tapped into an extensive entrepreneurial network at Stanford Graduate School of Business as I also lead research efforts at the Stanford Latino Entrepreneurship Initiative. I would encourage readers to get connected to community organizations and structured networks as these are key to scaling and growing your business,” Marlene advises. “My research has shown that you are more likely to come into contact with capital providers if you are part of an organizational network. As we experienced first-hand in the pandemic, information impacting small businesses changes very quickly from local ordinances to relief aid.  Organizations such as chambers of commerce, trade associations, economic development centers, and nonprofits are able to synthesize and distill this information quickly. Get connected!”

Being part of a community of like-minded individuals will not only give you the support you need, but also allow you to be the inspiration for someone else. You never know who might be in your circle who is seeking your advice, expertise, and talent, so make those connections, reach out, and share your story! 

Latino entrepreneurship, Marlene Orozco

Marlene Orozco sharing insights on the latest trends in Latino entrepreneurship at the 6th annual State of the Latino Community in Sonoma County hosted by Los Cien. (Photo courtesy Marlene Orozco)

“A couple of years ago, I was a keynote speaker at the 6th annual State of the Latino Community in Sonoma County hosted by Los Cien. The event included many sponsor tables put peppered throughout the ballroom were high school students engaging with these business leaders,” Marlene shares, recalling a moment where she was able to guide and empower a young student. “After I shared the latest trends on Latino entrepreneurship, a high school student bravely took to the mic and asked a question about how to scale her craft business. I was so moved by her courage and by the fact that I was able to play a small role in compelling her to share her story publicly. Motivating others through the power of data and my research encourages me to keep pushing my public scholarship.”

Communities and networks allow emerging entrepreneurs to access the resources and aid they need to grow and succeed in their ventures. However, knowing when to ask for help from your community and peers is an area where Marlene has seen women struggle. We often think success is being able to do it all for ourselves, but this can sometimes hold women back from achieving the full potential of their success. 

You might be interested: Alice Rodriguez: Overcoming obstacles and the power to succeed in business and life

I would encourage women to get started even before you think you are ready. There are numerous research studies that show that women, especially Latinas, hold themselves back on applying for a job or financing due to their gendered perceptions about qualifications,” says Marlene. “Know your worth, have confidence in yourself, and keep personal and professional support groups to turn to for advice and encouragement. This past year, in addition to navigating the complexities of the pandemic, I was finishing graduate school, publishing a book and articles, working full time, kick starting my business, and raising a toddler. Call on others for help as we cannot do this alone!”