Hispanic American entrepreneurs play a significant role in our country’s diverse history – and our economic landscape today. In fact, nearly one in four new businesses is Hispanic-owned, according to the Small Business Administration. Not only that, but there are approximately 5 million Hispanic-owned businesses in the United States (U.S.), and they contribute more than $800 billion to the American economy annually.
That’s why we’re highlighting five incredible stories of Hispanic, or Latino (also sometimes referred to as LatinX) American entrepreneurs in the small business landscape this National Hispanic Heritage Month, which runs from September 15 to October 15, 2023.
These successful Hispanic entrepreneurs defied the odds, shattered barriers, and achieved remarkable success in their respective fields. Before diving into the stories, let’s look at Hispanic Heritage Month and its history, as well as why and how small businesses can acknowledge this important month.
The Origins of Hispanic Heritage Month
Rich in culture, Hispanic American citizens have ancestors from Mexico, Spain, Central and South America, and the Caribbean. In 1968, President Johnson started the observation of Hispanic Heritage Week, and President Reagan expanded it to a month in 1988, the year it became public law. The timing is not coincidental, either; Hispanic Heritage Month coincides with Independence Day celebrations for many Latin American nations.
Since then, the United States has celebrated each year during this time, honoring Hispanic Americans and their unique contributions to the country. As a small business owner, you should celebrate these contributions, too. Here are just a few ideas to get you started supporting Hispanic-owned businesses:
- Get Involved. Find an event and get your family, coworkers, and other small business owners involved. Here’s a list of readings, concerts, and other events to get you started.
- Promote Hispanic Heritage Month. Use your company’s social media, or promote at your place of business with signs, decorations, and more.
- Offer Support and Partnership. Find local Hispanic-owned businesses and partner with them on an event. Or, you can donate to a Hispanic-focused nonprofit or just offer your support as a local businessperson.
Inspirational Hispanic Entrepreneurs
Now that you know a bit more about how and why Hispanic Heritage Month was started (as well as how to celebrate), let’s honor five amazing and inspiring Hispanic entrepreneurs. From actress business entrepreneur Jessica Alba to technology and robotics magnate Jordi Munoz, the following Hispanic entrepreneurs inspire with their accomplishments:
1. Jessica Alba
You may have seen her in blockbuster movies, but did you know she is also a multifaceted entrepreneur? Jessica Alba is a strong business leader and a NYT bestselling author.
Alba’s business strengths come from launching The Honest Company and Honest Beauty, two businesses that have tied her brand to wellness and healthy living through the use of clean, conscious beauty products such as lotions, face wash, shampoo, baby products, and makeup. She’s also been named to the best lists for Forbes and Fast Company, as well as being a strong philanthropist with a nonprofit organization under the Honest brand name.
Alba is honestly an amazing entrepreneur, and she’s only in her 40s.
2. Alberto ‘Beto’ Perez
Have you ever seen a gym buzzing with Zumba enthusiasts? You can thank Alberto ‘Beto’ Perez for inventing Zumba Fitness, a type of aerobic dance that can be found in gyms and fitness centers across the country. Zumba is not only fun and popular as a form of fitness but also is available in 180 countries today, so it’s safe to say it’s been incredibly successful, too.
Perez has humble roots: He was born and raised in Colombia to a single mother. With hard work, a love of dance, and ambition, he’s an extremely successful business owner today.
In an interview with Readers’ Digest, Perez once said, “Have passion and perseverance. It’s like fishing – you have to throw the bait. You throw it once, and the fish might not bite, so you have to throw it again and again, until it bites.”
3. Marcelo Claure
The telecommunications industry is full of entrepreneurs, and Marcel Claure is one of them who shines brightly. As the Chief Executive Officer of Sprint – a nearly $16 billion dollar company – Claure also founded mobile device distributor BrightStar. BrightStar’s success was rapid, with carriers in 50 different countries today.
Claure is a self-made billionaire – one who always had a passion for entrepreneurship, according to this Business Insider article. In fact, he used to buy and sell his mother’s clothes as a kid. After college, he was on a plane with a famous Bolivian Football Federation President. He talked his way into a job on that plane ride, and his business career was born.
4. Maria Contreras-Sweet
Banking can be a traditional industry – but that didn’t dissuade Maria Contreras-Sweet from launching a commercial bank in California. In addition to the bank, she also launched a marketing/research solutions company named Contreras-Sweet Enterprises, which has clients such as Walt Disney and Coca-Cola.
Maria Contreras-Sweet, originally from Guadalajara, Mexico, broke new ground when she launched her bank – ProAmerica – marking the establishment of California’s first Latino-originated commercial bank in over 35 years.
Additionally, Maria Contreras-Sweet was sworn in as the 24th head of the SBA in 2014, joining Obama’s cabinet. She supported 28 million small businesses through loans, funding, and contracts, while modernizing the agency and bringing it into the digital age. Her leadership led to record results in lending and contracting for small businesses.
5. Jordi Munoz
Technology and robotics are big business today, and Jordi Munoz knew that would be the case. In 2007, Munoz invented the first autopilot drone. Today, Munoz is co-founder of 3D Robotics, a multi-million-dollar company.
Munoz’s path to success was not easy; it was paved with creativity and resilience. According to BBC, Munoz was a Mexican immigrant who came to the United States at the age of 20 and had to wait for his green card. While waiting, he built a drone in his garage – and the rest is history.
Celebrating Hispanic Communities and Contributions Every Day
What do Munoz, Perez, Alba and the other entrepreneurs above have in common? A drive to succeed, creativity, resilience, and intelligence. Their stories are stories of Hispanic men and women who defied the odds and made their own success.
When you celebrate Hispanic business owners this Hispanic Heritage Month, remember the hard work and ingenuity of these business owners and countless others like them. And remember to celebrate Latin and Hispanic entrepreneurs every day – not just this month. Learning about the diverse journeys and life lessons from fellow entrepreneurs helps us recognize the immense impact of Hispanic business owners on global business today and every day.
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