Support Latino Business Day Toolkit 2021

Kicking off Hispanic and Latinx Heritage Month on September 14, Support Latino Business Day invites you to support, shop and celebrate.

SLB Day Tools

Activation Date: September 14, 2021 

HASHTAGS

#SupportLatinoBiz 

#SLBDay2021

Website: supportlatino.biz

HANDLES

Twitter: @SupportLatino

Facebook: @SupportLatinoBiz

Instagram: @SupportLatinoBiz

Linkedin: @Support Latino Business

Ways To Participate

Join Our Social Storm!

9/14 at 12pm EST

Feel free to leverage any of the following assets or create your own, either way be sure to tune into the conversation! Don’t forget to tag us and use the hashtag. 

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Download our Graphics Toolkit

SLB Day Assets

  • You can download our graphics toolkit (.zip file) containing banners and logos that you can use to promote SLB Day on your own website and social platforms (FREE Download, no email required). You can post your favorite Latino/x business and well as find sample posts and language below to leverage.

  • We look forward to honoring and celebrating juntos!

Sample Posts

Pre-promotion social examples 

  • At over $1.7 trillion, U.S. Latino purchasing power is growing 70% faster than non–Latinos. Let’s use our collective influence to support, grow, and fund Latino/x-owned businesses – join us on Tuesday, Sept. 14th to celebrate National Support Latino Business Day! Get involved at https://supportlatino.biz/. #SupportLatinoBiz 

 

  • The U.S. Latino market is growing GDP at a rate of 8.6%, which is faster than India and China! On September 14, 2021, we’re partnering with communities across the country to celebrate National Support Latino Business Day. We are proud to spotlight the significant contributions of Latino/x workers, entrepreneurs and business owners to our economy and the country! https://supportlatino.biz/ #SupportLatinoBiz

 

  • Over the last decade, U.S. Latinos accounted for nearly 80% of all net new businesses created. Join the National Support Latino Business Day movement on Tuesday, Sept. 14th and help shed light on the incredible contributions of the Latino/x community. https://supportlatino.biz/ #SupportLatinoBiz 

Day of social examples

  • The U.S. Latino GDP is growing 6 times faster than the U.S. GDP as a whole. We are proud to partner with communities across the country to celebrate Support Latino Business Day. Together, let’s shop, support and spotlight the significant contributions of Latino/x workers, entrepreneurs and business owners to our economy and the country! https://supportlatino.biz/ #SupportLatinoBiz #SLBDay2021

 

  • I’m joining the National #SupportLatinoBiz movement by spotlighting at my 5 favorite Latino/x-owned businesses. Check out (tag 5 businesses) & support them on the third annual @SupportLatinoBiz Day! #SLBDay2021 

 

  • Join us in celebrating National Support Latino Business Day! Together, let’s shed light on the driving force that is the Latino/x-business community, the significant economic contributions they make and the jobs and communities they help create! #SLBDay 2021. Visit: https://supportlatino.biz. #SupportLatinoBiz

Post event social examples

  • Latinas are the fastest growing entrepreneur demographic in the U.S, despite comprising less than 1% of those who receive venture capital. National Support Latino Business Day is an annual celebration that gives Latino/x-owned businesses the recognition and access to growth opportunities they deserve. Continue the #HispanicHeritageMonth celebration with us & learn ways you can support at https://supportlatino.biz! #SupportLatinoBiz

 

  • Latinos are starting businesses at a faster rate than the national average across several industries, growing 34 percent over the last 10 years compared to just 1 percent for all other small businesses. Let’s keep the National Support Latino Business Day momentum going and join us in helping empower and embolden the Latino/x business community! Visit https://supportlatino.biz to learn more. #SupportLatinoBiz

 

  • Latino/x businesses are currently driving $800 billion into the U.S. economy annually. Join us in recognizing and supporting their invaluable contributions continuing the celebration this Hispanic Heritage Month and beyond. https://supportlatino.biz #SupportLatinoBiz 

Did You Know?

ECONOMIC DRIVERS/ENTREPRENEURSHIP

  • Hispanic-owned businesses contribute over $800 billion to the American economy every year. – USHCC (2021)
  • Latinos are starting businesses at a faster rate than the national average across several industries, growing 34 percent over the last 10 years compared to just 1 percent for all other small businesses. – USA TODAY (2020)
  • Latino-owned businesses reported an average revenue growth of 14%, outpacing the growth of the U.S. economy. – USA TODAY (2020)
  • Latino-owned businesses employ more than 3 million people, according to the 2019 State of Latino Entrepreneurship report by the Stanford Latino Entrepreneurship Initiative (SLEI), a Stanford University research initiative centered around Latinos in business. All told, Latino-owned businesses account for about 4% of U.S. business revenues and 5.5% of U.S. employment.
  • However, Latino-owned companies remain smaller than white-owned firms, averaging $1.2 million in revenue compared with $2.3 million brought in by a white-owned company. 
  • The U.S. Latino market is growing GDP at a rate of 8.6% which is faster than China and India. – Forbes (2020)
  • Latinas are the fastest growing entrepreneur demographic in the U.S, despite comprising less than 1% of those who receive venture capital. – Forbes (2020)
  • If U.S. Latinos were a stand-alone country, they would account for the 8th largest GDP in the world – larger even than the GDPs of Italy, Brazil or South Korea. – L’ATTITUDE
  • At over $1.7 trillion, U.S. Latino purchasing power is growing 70% faster than non – Latinos. – L’ATTITUDE
  • The U.S. Latino GDP is growing 6 times faster than the U.S. GDP as a whole. – L’ATTITUDE
  • Over the last decade, U.S. Latinos accounted for nearly 80% of all net new businesses created. – L’ATTITUDE
  • 3.2 million immigrant entrepreneurs (2019). 8.0 million number of people employed at immigrant-owned businesses (2017).
  • $1.3 trillion: Total sales of immigrant-owned businesses, 2017.
  • 50 percent: Rate at which the founding of new business by immigrants grew, 1996-2011.
  • -10 percent: Rate at which the founding of new business by the native-born declined during the same period. 
  • The U.S. Latino/a population is expanding approximately six times faster than non-Latinos and we have accounted for nearly 80% of all net new businesses created during the last decade. 
  • The Afro-Latino community would rank within the top 25 economies in the world if it was a single country. 
  • Researchers found that Latinos had their PPP loans approved at half the rate of white-owned businesses. 
  • When Latino entrepreneurs start a business, 70 percent of their funding comes from personal savings, according to the Stanford study, while just six percent comes from commercial loans.

 

PURCHASING POWER 

  • Total Annual Spending by U.S. Hispanic Households To Reach $978 Billion in 2020 – Higher Than Any Other Minority Consumer Group 
  • In fact, annual aggregate Hispanic household spending is projected to reach $978 billion in 2020, making Hispanics the single largest and highest-spending minority group in the United States. On the income side, the aggregate annual household income of the U.S. Hispanic market now tops $1.28 trillion.

 

THE WORK FORCE

  • Latinos accounted for 82% of the growth in U.S. labor-force participation between 2010 and 2017 despite accounting for less than 20% of the country’s overall population. 
  • Latinos account for 85% of all farmworkers, 59% of the country’s construction crews, 53% of all employees in food services and 39% of the nation’s total workforce. 
  • Latinos make up a large portion of the labor force in service sectors that were considered essential after the COVID-19 pandemic started (some 65%). 
  • A report published today by the UCLA Latino Policy and Politics Initiative examines unemployment figures for Latinas as well as changes in the number of Latinas in the U.S. labor force since the beginning of the COVID-19 pandemic. 
    • Latinas are disproportionately employed in leisure, hospitality and related low-wage industries that were particularly vulnerable to pandemic-related closures.
    • A lack of access to education and training opportunities for higher wage opportunities disincentivizes Latinas’ participation in the labor force overall.
    • Latinas are disproportionately responsible for family care obligations versus Latino men, and they are more likely to stay at home than U.S. mothers of other racial backgrounds. That burden was exacerbated during the pandemic because of the closure of schools and day care centers.

 

POPULATION/GROWTH

  • The Latino/a population grew from 50.5 million in the 2010 Census to 62.1 million in the 2020 Census. This represents an increase of more than 11.6 million in the span of ten years. 
  • While the nation’s population increased between 2010 and 2020, the Latino/a population increase accounted for more than half, 51.1% of our nation’s overall growth, affirming that Latinos/as are the fastest-growing demographic in America. 

 

COVID REALITIES AND INEQUITIES 

  • The Covid-19 crisis has hit Latino small businesses particularly hard, including not being able to access PPP funding at a similar rate to other business owners. And many individual proprietors or small, family-owned businesses may feel the impact of Covid more directly, as the pandemic has disproportionately impacted the Latino community.
  • Latinos were approved for PPP at half the rate as Whites. When it came to requesting and securing the full amount, Whites received the full funding 7% of the time, while Latinx businesses only got full funding 3% of the time!
  • Latinos currently comprise 29.3% of COVID-19 cases in the United States, second only to Whites (49.9%), according to CDC data on April 22, 2021.
  • As of April 21, 2021, 18.7% of U.S. COVID-19 deaths are among Latinos, according to a new CDC data web page, “Health Disparities: Race and Hispanic Origin.”
  • According to data collected in the month following December 14, 2020, by the U.S. Centers for Disease Control and Prevention, Hispanics or Latinos accounted for only 11.5 percent of those who had received at least one vaccine dose, despite 53 percent of Hispanics or Latinos being high-proximity workers who must work in person and in close contact with others—the highest rate of any racial or ethnic category. Moreover, 31 percent of Hispanics or Latinos are essential workers.
  • The Stanford Latino Entrepreneurship Initiative reported in May that 86% of Latino business owners had felt immediate negative impacts from Covid, a rate higher than other ethnic groups.
  • As of the week of January 6, 2021, food insufficiency had grown significantly worse in the Hispanic or Latino community, with an 8.1 percentage-point increase above pre-pandemic levels. In comparison, the increase for non-Hispanic white households over the same time period was 0.9 percentage points.

Resources

There are a significant number of resources available for Latino businesses. 

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