Center for Hispanic Entrepreneurship
Hispanic Entrepreneurship Research
Accelerate El Paso Report
Accelerate El Paso is an initiative developed through a partnership between the City of El Paso and local business organizations focusing on developing the region’s minority business community through a $100,000 grant from Living Cities comprised of funds from the Citi Foundation and other large foundations nationwide. The initiative includes the creation of a program that could enhance the utilization of local resources and local business partners. The City of El Paso partnered with such local business organizations including the Small Business Development Center (El Paso Community College), Workforce Solutions Borderplex, El Paso Chamber, El Paso Hispanic Chamber of Commerce, the Hub of Human Innovation, El Paso Country Economic Development Office, and Center for Hispanic Entrepreneurship (The University of Texas at El Paso). The partners were asked to collaborate as they all share similar goals to expand minority businesses by removing common barriers to markets, barriers to contracts, barriers to capital, barriers to education, and barriers to helping businesses individually through one to one consulting.
Please submit the following form to download the Accelerate El Paso report to find out more about how the City of El Paso and CFHE are moving business forward:
Understanding Hispanic Entrepreneurial Success: An Exploratory Study
Over the past decade, the Hispanic population in the United States has increased from about 12.5% to more than 16.5% of the population (U.S. Census Bureau, 2010). Along with the rise in population, the number of Hispanic businesses has also increased.
By 2015, the number of Hispanic businesses is estimated to have climbed to 4.07 million establishments with $661 billion in revenue, a 57 percent increase from 2007 (Escape, 2015).
As important as this group is and as entrepreneurial as it might be, many studies have recognized that these and other minority businesses still lag in many economic factors. According to the latest research, minorities are more likely to start small businesses but are not likely to be as successful as other, non-Hispanic, businesses (Canedo, Stone, Black, & Lukaszewski, 2014).
Hispanic businesses are increasingly becoming the backbone of the economy of the U.S. Thus, understanding the factors that relate to Hispanic business success is of great interest
The paper explores the success and failure factors for Hispanic businesses and extends the literature through an analysis of a Texas Hispanic Chamber of Commerce database. Literature suggests that tailored training provided by organizations such as these will reduce failure rates. Thus, the study focused on identifying characteristics of firms that maintained or joined a chamber of commerce.
For full paper click here: http://search.proquest.com/openview/4edce66e9962c4a40c0f3290e1df7c80/1?pq-origsite=gscholar&cbl=1576345
University of Texas at El Paso
Gary L. Frankwick
University of Texas at El Paso