The Aspen Institute Forum on Latino Business Growth
American Latinos are fueling new business growth nationwide. Despite leading in new ventures, they face challenges when it comes to scaling those businesses. This June, the Aspen Institute Latinos and Society Program enlisted 27 cross-sector leaders and stakeholders to develop solutions that support Latino-owned business (LOB) in growing their ventures through the Aspen Institute Forum on Latino Business Growth.
Given the trifecta of rapid growth of the Latino population (reaching one-third of the US population by 2060), record levels of new LOBs (4-15 times the rate of other populations) and the limitations to scaling LOBs, high-value intervention is needed to optimize the impact of LOBs on the U.S. economy. With these circumstances, the group set out to identify high-impact solutions with the greatest likelihood of scaling a critical segment of the Latino business universe – those with potential to reach over a million in revenue. The focus areas were: 1) access to capital, 2) Latino power and influence, 3) adequate business training, 4) networks and mentoring, 5) branding and narratives, and 6) procurement opportunities.
A report laying out the full set of challenges and action oriented solutions for different stakeholders will be released at a public event and live streamed to view in November 2017.