![]() He found raising capital for the restaurant to be his biggest challenge by far. "Given that Latinx business owners don't fit the pattern, we have an additional hurdle in terms of becoming 'investment worthy.' Getting over this hump is really difficult and is often why it takes Latinx-run companies so long to raise capital."Įzequiel Vázquez-Ger recently opened a Latin American restaurant called Seven Reasons in Washington D.C. "VCs tend to work on the basis of pattern recognition," continues Medina. Elizabeth Ortiz, co-owner and business development manager, Geek Powered Studios. Mentors can help you navigate the process to avoid delays and costly mistakes. Starting and running a business is difficult as Latinx business owners. "The challenge for Latinx business owners, especially in technology and the high-growth venture capital world, is we don't fit the standard model," says Manny Medina, CEO of Seattle-based Outreach, a sales management platform, and author of Sales Engagement: How The World's Fastest Growing Companies are Modernizing Sales Through Humanization at Scale. One of the main impediments to running a thriving business for many Latinx business owners is the often limited access to capital and the resulting negative effects on cash flow. Access to Capital Often Difficult for Latinx Business Owners Here five Latinx business owners share the top hurdles they've had to jump over while starting and running successful businesses. Thanks to a combination of hard work, determination and creativity, Latinx entrepreneurs like Rubinstein continue to increase in numbers.Īccording to the 2017 Kaufman Index Startup Activity report, which combined a sample size of "roughly 700,000 adults ages 20 to 64" over a 20-year period, "the share of all new Latinx entrepreneurs rose from 10 percent in 1996 to 24 percent in 2016."ĭespite these big gains, being a Latinx business owner is not without its challenges, as the following entrepreneurs can attest. "Latinos raise their kids to know that failure is not an option. ![]() from Chile, and my parents taught me that if I work hard, I can accomplish anything here," says the owner of the ad agency DXagency, which just celebrated its 15 th anniversary. "My family was blessed to immigrate to the U.S. ![]() Sandy Rubinstein credits her parents' influence for her success.
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