Challenges Facing Hispanic Entrepreneurs

Posted by Elena del Valle on May 14, 2014

*By Stephanie L. Black, MIM, MBA, doctoral candidate, University of Texas at San Antonio
Julio C. Canedo, Ph.D., assistant professor of Management, Northern Michigan University
Kimberly M. Lukaszewski, Ph.D., associate professor of Management, State University of New York at New Paltz
Dianna L. Stone, Ph.D., affiliate professor of Research, University at Albany, State University of New York

Stephanie L. Black, MIM, MBA, doctoral candidate, University of Texas at San Antonio

Julio C. Canedo, Ph.D., assistant professor of Management, Northern Michigan University

Kimberly M. Lukaszewski, Ph.D., associate professor of Management, State University of New York at New Paltz

Dianna L. Stone, Ph.D., affiliate professor of Research, University at Albany, State University of New York

Hispanic owned businesses have increased rapidly, and there are now more than two million in our nation (U.S. Bureau of Census, 2010). One reason for this is that entrepreneurship provides a springboard for economic advancement and social integration of minorities (Wang & Li, 2007). Also, Hispanic businesses are important contributors to our economy, and have a number of key strengths (Starr, 2012). For instance, many Hispanics have connections to Latin American markets, and meet the needs of the growing Spanish-speaking customer base (Starr, 2012). In addition, Hispanics are adaptable, resilient, and have revitalized the economy of inner cities (Dana & Morris, 2007).

Despite these strengths, Hispanics, not unlike other entrepreneurs, face many challenges. This article reviews existing research on the challenges faced by Hispanic entrepreneurs, and offers some evidence-based guidelines for enhancing their success.

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Hispanic business owners are more knowledgeable about financial planning than previous research suggests

Posted by Elena del Valle on November 17, 2010

By Dianna L. Stone, Ph.D., professor of Management
Joy Row, MBA, research project manager
Teresa Svacina, M.S., and Julio Canedo-Soto, MBA doctoral students
University of Texas at San Antonio

Dianna L. Stone, Ph.D., Joy Row, MBA, Teresa Svacina, M.S. and Julio Canedo-Soto, MBA

There has been a dramatic rise in the number of Hispanic owned businesses in the U. S. One reason for this is that entrepreneurship often provides a springboard for the economic advancement and social integration of minorities. Despite this growth, little research has focused on the success of Hispanic owned businesses. Studies have shown that minorities are more likely to start small businesses, but are less likely to be successful than Anglos1.

Although there may be a number of reasons for this, researchers have argued that the lack financial skills may be a key source of the problem. Results of other research shows that Hispanics2, and Hispanic business owners3 may have limited knowledge of financial planning. Thus, the primary purpose of this article is to relay results of some recent research on Hispanic business owners’ knowledge and use of financial planning.

Click here to read the entire article Hispanic business owners are more knowledgeable about financial planning than previous research suggests