Hispanic- and Latino-owned businesses in the United States have a significant impact on the nation's economic landscape. As of 2023, there are approximately 5 million Latino-owned businesses in the U.S., bringing in more than $800 billion annually. However, Latino business owners often lack equal access to capital, coaching, and networks, which makes starting and scaling a business all the more challenging.
Fortunately, many organizations have formed over the years to help support and sustain the growth of Latino entrepreneurship. From influential organizations to government-backed initiatives, here are 13 programs that can help Hispanic business owners get started or find assistance.
[Read more: How (and Why) to Get Certified as a Minority-Owned Business]
The Association of Latino Professionals for America
The Association of Latino Professionals for America (ALPFA) is a nonprofit with a mission to create opportunities for Latino individuals.
ALPFA serves as a valuable support system for Latino entrepreneurs, offering collegiate scholarships, educational programs, professional connections, and more. ALPFA also hosts several business events throughout the year, including the Northeast Regional Tech Summit and annual conventions from its many regional chapters.
ALPFA professional membership comes in three tiers: a free Basic plan, a monthly Gold plan, and a one-time-fee Platinum plan.
The EY Entrepreneurs Access Network
The EY (formerly Ernst & Young) Entrepreneurs Access Network (EAN) strives to address the gap in networking, business education, and capital that Black and Latino entrepreneurs often face.
EAN offers a range of resources, including one-to-one coaching, training programs, and an annual spring summit for Black and Hispanic/Latino leaders. Those interested can apply to join an upcoming EAN cohort; applications for the 2025 cohort close on August 30, 2024.
The Hispanic Association of Small Businesses
The Hispanic Association of Small Business (HASB) is a nonprofit designed to empower current and aspiring Hispanic entrepreneurs. It provides a range of free- to low-cost services to local business owners, including informational resources, business education workshops, remedial English classes, and consultation and networking opportunities.
For entrepreneurs in (or able to travel to) California, HASB hosts several events throughout the year, including an annual gala.
Latinas Think Big
Latinas Think Big brings together Latin American women with a shared interest in big ideas and ventures. It's known as the largest network for Latina professionals, entrepreneurs, and students, offering in-person events as well as an online community of over 20,000 members.
Learning opportunities and career advice are some of the perks of membership; members of the community celebrate each other's achievements with plenty of opportunities for local and national networking. Past national summits have been held in locations such as Los Angeles; Cambridge, Massachusetts; and New York City.
The Latino Business Action Network
The Latino Business Action Network (LBAN), in partnership with Stanford University, aims to foster the growth and success of Latino businesses through innovative programs.
LBAN's Business Scaling Program, offered each spring and fall at Stanford, equips entrepreneurs with essential skills and knowledge to expand their business ventures. Additionally, LBAN's Startup Accelerator, held each spring, offers crucial resources and guidance to help emerging businesses navigate challenges and seize opportunities.
However, support doesn't stop after the LBAN programs are completed. Alumni can stay in touch with their mentors and with each other via the LBAN Alumni Portal, creating an ecosystem that cultivates ongoing business growth and connection.
[Read more: 10 Funding Options for Hispanic- and Latino-Owned Businesses]
The League of United Latin American Citizens
The League of United Latin American Citizens (LULAC) works to promote civil rights, economic empowerment, and social justice for Latin American communities in the United States. Within the economic and business sphere, LULAC offers various programs to support and uplift Latino-owned enterprises.
For example, the Empower Hispanic America with Technology initiative equips aspiring professionals with essential tech skills, bolstering their potential in the digital landscape. LULAC also hosts several in-person events throughout the year, including a national convention, a national women’s conference, and a youth conference.
LULAC offers multiple membership options, including free e-membership, paid monthly membership, and a one-time-fee lifetime membership.
The Minority Business Development Agency
The Minority Business Development Agency (MBDA), an arm of the U.S. Department of Commerce, has helped minority-owned businesses since 1969. The agency focuses its efforts on connecting minority-owned businesses with capital, contracts, and assistance with entering new markets.
Additionally, there are many MBDA Business Centers around the United States, where Hispanic and other minority business owners can seek guidance, information on funding, and other resources.
The U.S. Hispanic Chamber of Commerce (USHCC) serves as the umbrella organization for more than 200 local Hispanic chambers of commerce and Hispanic business organizations around the United States.
The National Association for Latino Community Asset Builders
The National Association for Latino Community Asset Builders (NALCAB) recognizes entrepreneurship as a key strategy in creating jobs and economic stability for the Latino community. One of its main initiatives in supporting Latino wealth is through small business development.
NALCAB serves the broader Latino business community by offering grants, loans, and training to its members; business owners can search for participating resources in their communities to reap these benefits. Entrepreneurs and nonprofit partners can also access educational resources, including on-demand training and webinars.
The National Hispanic Business Group
The National Hispanic Business Group (NHBG) aims to create a supportive ecosystem for Hispanic entrepreneurs to thrive and prosper. Through a range of programs and initiatives, NHBG empowers business owners to leverage valuable resources, networking opportunities, and industry insights.
The NHBG promotes economic advancement within the Hispanic business community through mentorship, scholarships, specialized workshops, and in-person events throughout the year. The organization also meets with corporate partners to establish mutually beneficial relationships, including expanded minority vendor programs and business partnerships.
The National Minority Supplier Development Council
The National Minority Supplier Development Council (NMSDC) plays a vital role in certifying minority-owned businesses, which opens the door to new business opportunities. The NMSDC acts as a matchmaker between certified minority-owned businesses and large public and private entities seeking to hire diverse suppliers.
In addition to certification, the NMSDC offers a range of educational programs to support minority business enterprises in developing their skills. These include courses on accessing capital and contracts, executive leadership education, marketing and sales, and more — and often come with the opportunity to secure business grants and funding.
Beyond these programs, the NMSDC hosts virtual and in-person events focused on education, networking, leadership, and other business topics.
SCORE for Hispanic Entrepreneurs
Supported by the U.S. Small Business Administration (SBA), SCORE is the nation’s largest network of volunteer expert mentors. The program pairs small business owners with experienced business professionals who can offer region- and industry-specific insights. Alongside its business mentorship program, SCORE also provides a range of business education resources, such as webinars and on-demand courses.
Latino business owners can explore SCORE for Hispanic Entrepreneurs, a centralized hub that offers tailored webinars, articles, and other resources. Those interested can apply to match with an expert mentor or volunteer as mentors themselves directly from the hub.
SBA 8(a) Business Development
The SBA further champions Hispanic-owned businesses through the 8(a) Business Development program. The initiative aids qualifying small enterprises owned by socially and economically disadvantaged individuals, including Hispanic entrepreneurs.
Ready to equip participants with resources, training, and mentorship opportunities, the program promotes growth and equal opportunity in the federal marketplace. To participate, Hispanic-owned businesses must meet specific eligibility criteria, including the following:
- Qualifying as a small business.
- Being at least 51% owned and controlled by socially and economically disadvantaged U.S. citizens.
- Having a personal net worth of $850,000 or less, an adjusted gross income of $400,000 or less, and assets totaling $6.5 million or less.
Those interested in the 8(a) Business Development program can read the full list of qualifying criteria to learn more. Once certified, participants gain access to federal contracting opportunities, facilitating expansion and exposure to a broader clientele.
The U.S. Hispanic Chamber of Commerce
The U.S. Hispanic Chamber of Commerce (USHCC) serves as the umbrella organization for more than 200 local Hispanic chambers of commerce and Hispanic business organizations around the United States.
The USHCC works to develop national programs to help Hispanic businesses, promotes trade between Hispanic businesses in the United States and Latin America, and provides technical assistance and training to Hispanic entrepreneurs. Additionally, the organization hosts events and programming, including free webinars, and regularly updates its page of free business resources.
[Read more: 11 Hispanic- and Latino-Owned Business Directories]
This article was originally written by Leanne Haas and Sean Ludwig.
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