Latinas are a growing economic force in the country. The MAHCC values the substantial and unique contributions Latina businesswomen make to the economy, and it formally recognizes Latina entrepreneurship and achievement through the popular Latinas in Business Awards Luncheon.
A 2015 government study reported that one in five females in the U.S. are Latinas. They comprise the nation's largest ethnic minority. Twenty-five percent of females in public schools are Latina, and more are college educated than ever before. Latina numbers will continue to grow. By 2030, one-third of the female population in the U.S. will be Latina.
Latinas own more than 1 million businesses in the U.S. and of all U.S. women-owned businesses, one in ten are owned by a Latina. Their growth was more than double the growth of women-owned business between 1997-2014. In 2014, businesses owned by Latinas employed over 400,000 individuals and they poured in over $71 billion to the nation's economy.
A business model popular among Latinas is the "non-employer" business. With low barriers to entry and high flexibility, it comprises 93% of Latina businesses. Entrepreneurs utilizing this model include real estate agents, salespeople, independent contractors, and others who run businesses from their homes.
While underrepresented in the professions, Latinas are making progress. Latinas comprise 6.7% of female lawyers and 7.5% of female physicians (the latter is the greatest growth of any other group of women between
In all managerial professions, women were underrepresented at 38%. But Latinas grew from 6.3% to 9.5% in the time period 2004-2014 (a 30% increase) which was a larger advance than any other female group.
Women, as a whole, continue to be underrepresented in the C-suite, the top of the managerial ladder. In 2014, only 4.3% of female CEOs were Latinas. Latinas' upward advance to the top eschelons has been stalled since 2007 at less than 1% of boardroom seats at Fortune 500 companies. Because the top positions are typically filled from within, Latinas will find their best chances are to begin early on to find their way into professional occupations.
Meanwhile, Latinas' presence in the small business arena are where they continue to excel, and that's good for the nation because small business is the life blood of our nation's economy.
Source: Fulfilling America's Future: Latinas in the U.S., 2015 by Patricia Gandara, Professor of Education, UCLA and Co-Director, The Civil Rights Project and The White House Initiative on Educational Excellence for Hispanics.