In The Community
You might have come across the descriptor “Latina-owned,” but have you taken a moment to truly grasp the profound meaning behind these two words? This form of self-identification is gaining momentum, symbolizing a powerful and continuously expanding Latina-led movement.
The label "Latina-owned" signifies a unique intersection of gender, ethnicity, and culture, shaping a distinctive identity within the entrepreneurial landscape. It goes beyond a simple ownership tag, blending economic and social realities.
In a landscape historically dominated by men, being "Latina-owned" challenges traditional gender norms and underscores the dynamic role played by women in steering businesses and the U.S. economy toward success. It’s not widely known that Latina-owned businesses are growing the fastest among all women. Latina-owned businesses grew 164% from 2007 to 2018, which is almost three times more than the growth of women-owned businesses overall.
Latinas also come in as the second-largest group of female workers in the United States, with a total of 12.8 million Latinas in the labor force. This makes them just over 17% of the overall female workforce.
The label also grounds itself on the diversity of Latine heritage - with roots in different Latine American cultures, each with its own set of traditions. This cultural backdrop not only adds a unique flavor to the business but also establishes a connection with consumers seeking diversity in their choices and supporting businesses with authentic cultural roots.
Culturally, the "Latina-owned" label transcends mere ownership status. It’s a symbol of community, shared experiences, and empowerment. It reflects a commitment to preserving and celebrating cultural values in business practices, whether it be through products, services, or workplace environments. This cultural infusion not only distinguishes Latina-owned businesses but also fosters a sense of pride and identity among the entrepreneurs and their customers alike.
Latina women are excelling in every way – creating jobs, sparking innovation, and tuning into what U.S. consumers of all backgrounds want.
This trend also serves to lift up Latina women, giving them the spotlight they deserve and giving them the inspiration and experience to grow into leadership roles. More Latina entrepreneurs are making their mark and bringing a whole new level of representation to the table.
The path to success for Latina entrepreneurs is inherently challenging and marked by a complex interplay of racial and gender biases, including a persistent wage gap that disproportionately affects many Latina women. Moreover, limited networking, mentorship opportunities, and a constant struggle for access to loans and investments further compound these challenges. Venture capital investments have been dismal for years, with less than a half-percent of billions of dollars of capital going to Latina-led start-ups.
Foreign-born Latina entrepreneurs, in particular, face an uphill battle with challenges like language barriers and limited access to information. Providing language support, along with greater accessibility to entrepreneurial resources, can significantly help these Latina women more effectively navigate the intricate landscape of entrepreneurship.
Actively acknowledging, supporting, and investing in Latina-owned businesses is a necessary step in building true Latino economic influence and power. As the label continues to gain recognition, it becomes not just a marker of ownership but a catalyst for conversations and action around inclusion, representation, and the evolving narrative of Latina identity.
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Some of us might be able to relate to this: you find a hobby, start to love it, and start using your hobby to connect with your family and friends only to suddenly have your loved ones convince you to turn your passion project into a side hustle. Your passion for your hobby takes a backseat and leaves you stressing about a business plan, a logo, a brand, a bank account and all other tedious things that suck the joy out of something you once loved. How did you get here?
This is something I’ve been wondering for some time, especially since I have my own business where I work directly with artisans and come across so many other small businesses. I wonder how much of their craft comes from a deep love of the work they do and how much of it comes from the societal norms of monetizing our passions to make a little extra money on the side.
I start to wonder, why has it become so difficult to enjoy the talents of others without pushing them to monetize their craft? I’ve been guilty of it. I think we all have.
We’ll make comments like ‘You should sell these!’ and ‘Why aren’t you making them in different colors to maximize profits?!’ All with good intentions, of course. However, we fail to realize that so much of the things we are saying with good intentions are shaped by the normalization of a consumerist culture. Consumer culture is driven to make you feel validated if you own your own business or if you’re doing a thousand things at once even if you’re overworking yourself for it.
Now, I am not someone who typically frowns upon consumerism, being a huge fan of treat yo’ self days, but I’m also aware that we don’t and shouldn’t have to feel pressured to monetize every thing that brings us joy.
In a consumerist driven world, we might be better off finding joy in things that are simple and won’t bring on a chain of events like a business plan or legal filings. Perhaps the joy and validation that we might be looking for in starting a business can be found when we decide to keep our hobbies to ourselves.
Due to the pandemic, many of us are discovering new hobbies. This is something exciting and exactly what most of us need to keep us motivated during what feels like a never-ending lockdown. But in case you haven’t heard it,
your hobbies don’t have to be your side hustle.
Yes, your hobby might make you a whole lot of money… but it also might not. We need to stop buying into hustle culture and the idea that if you hustle hard enough you’ll be able to pay off those students loans faster or that you’ll be on the road to financial security quicker. All that you might end up with is quicker burnout and a path to more stressors during an already difficult time. Only you can answer these questions, but we are here to promote self-care and remind you that it’s okay to not monetize every interest. Your body and mind deserve some rest from this chaotic and demanding world, so indulge in some macrame or make resin art – without looking for the coin from it. Your body and mind will thank you.
