Hispanic Heritage Month, observed from September 15th to October 15th, honors the culture, experiences, and contributions of Hispanic and Latinx Americans. This year, organizations can make Hispanic Heritage Month more than a celebration – it can become a call to action to better support the thriving, but still underrepresented Hispanic business community.

Hispanic-owned businesses now account for over 5% of all U.S. firms, employing more than 3 million people and generating $500 billion in revenue. From 2012 to 2022, the number of Hispanic-owned businesses grew at more than three times the national average rate. But Hispanic entrepreneurs still face obstacles in accessing capital, contracting opportunities, and equitable representation across industries.
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Here are some ideas for how businesses can step up during Hispanic Heritage Month 2023:

• Actively source from Hispanic-owned suppliers and vendors. Seek out minority-owned firms when searching for new suppliers or issuing RFPs.
• Set goals for spending a target percentage of supplier budget with Hispanic-owned businesses. Track metrics and share results - both good and bad - internally and externally.
• Highlight Hispanic entrepreneur success stories on company publications, social and traditional media. Showcase their innovations and encourage other Hispanic founders.

Hispanic consumers have more than $1.7 trillion in annual buying power. And the Hispanic population is projected to grow to 1 in 4 Americans by 2050. Companies that successfully embed Hispanic-owned businesses into their supply chains and partnerships have the opportunity to gain a greater share of Hispanic customers, employees, and brand ambassadors.

Hispanic Heritage Month is the optimal time to re-evaluate business relationships and purchasing behavior through an equity lens. Because supporting Hispanic-owned companies is not only a moral imperative, but an economic one – it’s good for business, community, and the nation’s prosperity as a whole. Equity in entrepreneurship lifts us all.
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#HispanicHeritageMonth #LatinxHeritageMonth #HispanicBusiness #LatinxBusiness

In honor of Hispanic Heritage Month, take a look at “The Latino Experience” - a three-hour presentation of nonfiction and fiction short films that explore a broad collection of experiences, perspectives, and points of view highlighting the diversity of the Latino/a/x community and illuminating the vibrancy of the United States and Puerto Rico.
#LatinoExperiencePBS #HispanicHeritageMonth #SeraileBrandingIQ