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At the United States Hispanic Chamber of Commerce, which I have the honor to lead as president and CEO, helping Latino-owned businesses succeed is at the center of our mission. Our responsibility to the more than 4.7 million Latino-owned businesses and our growing network of 260 local chambers and business associations nationwide is to pursue and advocate for inclusive economic growth and development that build shared prosperity.
We represent the fastest-growing group of entrepreneurs in the U.S., and we don’t take that responsibility lightly. The number of Latino business owners has grown by 34% over the last 10 years compared to just 1% for all other businesses, according to a recent study by the Stanford Latino Entrepreneurship Initiative, and much of this growth has been driven by Latinas. These new businesses are invigorating, highlight our potential and are what motivates me everyday.
In 2020, with the arrival of the COVID-19 pandemic, our chambers became emergency rooms for small businesses. We quickly mobilized and awarded hundreds of thousands of dollars in grants directly to Latino owners and our local chambers to provide assistance. These funds were a lifeline for Latino businesses to keep the lights on, make payroll, rent and meet other critical needs.
We also provided technical assistance, established online resource hubs in English and in Spanish and graduated more than 200 Latino-owned small businesses through our accelerator program.
Last year was also our most active year in Washington, D.C. We raised $850 billion to provide assistance for our Latino small business members. We advocated for access to the Paycheck Protection Program (PPP) for both Latino-owned businesses and 501(c) (6) Chambers of Commerce.
As we take a moment to reflect on our progress to date, we have our eyes on the future. There is no denying that the world has dramatically changed, and we need to adapt and thrive, not just to survive. And technology is driving change forward faster than ever before.
We got a glimpse of the transformational power of technology through our partnership with Google last year. We collaborated to provide extra funding and Grow with Google curriculum support to 40 of our chambers across the country. Together, we trained 10,000 Latino small businesses and the initial results and impact we’ve seen is truly remarkable.
Google and the United States Hispanic Chamber of Commerce share a deep commitment to economic opportunity, development and advocacy for Latinos. This is why today, we are sharing that Google will be making a $5 million investment in Latino-owned businesses and community organizations. Together we are also unveiling a new Latino-owned attribute that will be available across Google Search, Maps and Shopping. All this is part of Google’s $15 million investment in economic equity for Latinos.
Building more resilient Latino businesses
Today, we are deepening our partnership with Google with an additional investment that will allow us to create Grow with Google digital resource centers and train an additional 10,000 Latino business owners on how to use digital tools to grow their business. This work is critical to setting up Latino business owners for success for the long haul. These new skills, training and resources will help them be competitive in today’s digital economy and allow us to help aspiring entrepreneurs to think digital-first.
Google.org is also providing funding to support the Latino Community Foundation’s Entrepreneurship Fund, an initiative that strengthens Latino-led small businesses and micro-entrepreneurs across California. It will directly invest in 150+ micro-entrepreneurs to support the tireless work of street vendors, cleaning services, landscapers, childcare providers and other micro-entrepreneurs. For Latino-owned businesses, running a business is often a family affair, and the Entrepreneurship Fund will increase and improve the online presence for Latino-owned small restaurants through the creation of websites and social media accounts designed and managed by youth participating in tech skills building programs.
This is in addition to Google’s ongoing support of nonprofits through $3 million in donated ads to Latino organizations. This includes the Hispanic Access Foundation, which uses Google.org’s support to advertise internships for Latino college students, fundraise for DACA fee scholarships, and more — all in service of enabling more Latinos in the U.S. to achieve economic success.
Identify and buy from Latino-owned businesses
Today, we are partnering with Google to unveil a Latino-owned attribute that will be available on Search, Maps and Shopping, in the coming weeks, so businesses can easily identify as Latino-owned on Google. This update builds on the Black-owned, Veteran-owned and Women-owned business attributes, and is another way people can support diverse businesses across Google’s products and platforms.
