Minority entrepreneurship

Latino entrepreneurs gain ground in local business community

“It is extremely difficult to acquire financing when you are a single mom with no money and no job, so I bootstrapped my business,” says Adriana Chavela, who launched Hola Carolina, a bimonthly Spanish-language magazine, in 2015 with more determination than capital. “With my last $200, I printed an eight-page media kit and started knocking on doors.”

Black Dollars Matter: What Will It Take for Black Banks to Start Leveraging Our Wealth and Recycle Dollars Within the Community Again?

The Black bank has played an important role in funding Black entrepreneurs, businesses and institutions, sustaining the Black community and helping individuals when other banks turned a blind eye. This Juneteenth–the commemoration of the end of slavery and the beginning of freedom and independence for African-Americans–provides an opportune time to examine the role of that Black financial institutions have played and continue to play, the ways in which integration impacted the economic ecosystem, and the challenges and opportunities facing Black banks.

Bridging the Gap Between Black Banks and the Black Community

For some African American-owned businesses like Dooky Chase's in New Orleans, black banks have provided lifelines, but a disconnect exists for younger entrepreneurs who could benefit.

An FDIC report last month found that half of all African American and Latino households are disconnected from the formal financial system, compared to one in five white households. This means blacks often pay more to cash checks, buy money orders and conduct other transactions. 

Keeping the Cash Register Ringing: Tips for New Small Business Owners

Today more than one million small businesses owners in the United States face both a wide range of opportunities and a unique set of challenges.

A recent TD Bank survey of 128 Hispanic small business owners throughout the United States identified management confidence and how funds are allocated as the top two challenges among this group. There are many factors driving these sentiments, such as being responsible for managing a business and not knowing the best resources to utilize.

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