Today’s concept of a “business” is very different from what it used to be. Among the many new business models, a growing segment called micro-entrepreneurship has become a permanent fixture in our economy. And leading the way are Latinas, a group that usually doesn’t receive the attention it deserves, according to Angelica Fuentes.
A micro-entrepreneurship is a small business—sometimes with less than nine employees or none—started by an individual. Many micro-entrepreneurships operate in the owner’s residence; they are popular because they usually require little initial investment and low overhead. Among their advantages are the ability to do business online and to target a particular consumer group.
An incredible achievement! In the United States, 6.4 million women own businesses and employ 9.2 million people. Let's keep growing these numbers. #womenbusiness pic.twitter.com/bANCS6M51s
— Angelica Fuentes (@angelicafuentes) September 30, 2022
According to the Small Business Administration, 75 percent of private sector employers in the United States are “micros.”
Latinas, in particular, have taken advantage of the move toward micro-entrepreneurship. It’s estimated that the number of Latina-owned businesses has risen by 87 percent over the last five years.
The innovative energy of the relatively younger Hispanic population has found a niche. The convenience of running a micro business- many of which can be operated from home on Etsy- is particularly beneficial for Latinas, who receive less than one percent of available venture capital.
Latina micro-entrepreneurs: success stories
Everyday activities and hobbies are now thriving money-makers. Angelica Fuentes, a well-known supporter of Hispanic achievements, shares the success stories of two Latina micro-entrepreneurs.
Maria Victoria “Vic” Sanchez is the owner of Libro Mágico Amarillo, a publisher of children’s books. As former attorney, Ms. Sanchez grew tired of the corporate world and began writing and customizing educational books for bilingual children during the COVID-19 pandemic. She credits patience and “thinking positively” as success factors in doing what “we believe in”.
Sarita Lopez, the owner of The Cactus Water, LLC, is a Napa Valley-based entrepreneur. She got her business idea from watching the sales of prickly-pear Cactus paddles called nopales. An organic farmer, Ms. Lopez branded the product line Green-Go Cactus Water, which she credits as providing health benefits to herself and her buyers.
As innovators such as Vic and Sarita continue to gain proper attention in the business world, it seems intuitive that plenty of others will soon follow. It’s just too hard to ignore such success for very long.
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