Hispanic- and Latino-owned businesses are the fastest-growing segment of the U.S. business landscape, with nearly 5 million companies generating about $2.8 trillion in economic output.
It’s an innovative and resilient community. For the past 15-plus years, Latino-owned businesses have outpaced the growth of U.S. businesses in general, according to research from the Stanford Graduate School of Business and Latino Business Action Network. From the start of the COVID-19 pandemic through late 2022, Latino-owned businesses grew revenue by 25% on average; white-owned companies, by comparison, experienced an average revenue growth of 9%.
But challenges remain for business owners seeking to scale. These range from accessing capital to recruiting and retaining talent to building professional networks.
JPMorgan Chase’s $30 billion Racial Equity Commitment aims to help close the racial wealth gap and drive inclusive growth for historically underrepresented communities. This includes advancing Hispanic and Latino companies through relationships, business opportunities, financial solutions, resources and more.
Here, we’ve collected content to help Hispanic and Latino business owners drive growth, optimize operations and become better leaders.
Supplier diversity opportunities
- Diverse supplier certification: What it means to you and your business (article)
- How to become a certified diverse-owned business (guide)
- National Minority Supplier Development Council + JPMorgan Chase Certification Reimbursement Initiative (program)
- Supplier Diversity Spotlight: Bandujo Advertising (video)
- 6 tips to help diverse suppliers (article)
“[Certification] is really only Step 1. Once you have it, you have to start marketing yourself and developing relationships with the companies you want to do business with.”
Ted Archer
Global Head of Business Partner Diversity at JPMorgan Chase
Access to capital
Scaling for growth
Armando Soto, co-founder of From Roots to Flowers
Navigating the current environment
Mabel and Shaira Frías, co-founders of Luna Magic
DEI
- A DEI playbook for early-stage startups (guide)
- Latina entrepreneur and DEI expert talks inclusive workplaces and more (podcast)
- How to find purpose, according to motivational speaker Gaby Natale (video and article)
- 6 steps to building your DEI strategy from the ground up (article)
- Strategies for building your company’s DEI team (article)
- 3 ways to integrate diversity, equity and inclusion across your business (article)
Leadership and community building
- Meet the people behind Community Development Banking’s investments: Raza Development Fund (videos)
- Transforming abandoned lots into affordable homes (video and article)
- Foreign Policy Magazine VP Diana Marrero discusses her Hispanic heritage and lifelong love of politics and news (podcast)
- Faces of opportunity: Finding the American dream in a parking lot (article)
“As the largest Latino-focused Community Development Financial Institution (CDFI), Raza’s impact is immeasurable. We’re proud to support Raza’s work—especially in education, community health care and burgeoning small businesses in underserved Latino communities—as the CDFI helps shape the servant leaders of tomorrow.”
Kevin Goldsmith
Head of Tax Credit and Intermediaries, JPMorgan Chase Commercial Banking
JPMorgan Chase Leadership
- On a mission to recognize and support Latino success, with JPMorgan Chase & Co.'s Head of Advancing Hispanics & Latinos (podcast)
- JPMorgan Chase walks it like they talk it at the Wealth Summit in Dallas (article)
- Supporting an inclusive economy: small businesses, Black and Latinx entrepreneurs, and their intersection (article)
- A $3 million investment delivers academic opportunities to thousands of Dallas students (article)
- Build your future (video)
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