Aspen Institute Launches Playbook for Scaling Latino-Owned Businesses
On February 13, the Aspen Institute’s Latinos & Society Program held a launch event for its new publication, A Playbook For Scaling Latino-Owned Businesses. Building upon a prior convening and report, participants of the Aspen Institute Forum on Latino-Owned Business Growth developed the playbook, which is a compilation of “plays” in four key areas that stakeholders–including public officials, corporate entities, capital providers, and entrepreneur supporters–can implement to increase the contribution of Latino-owned businesses to the American economy.
Of the 4.65 million Latino-owned businesses in the U.S. (which generate an estimated $700 billion per year), just three percent have scaled to $1 million dollars or more in revenue. If Latino-owned businesses were to scale at the same rate as White-owned businesses, an estimated $1.47 trillion dollars could be added to the economy.