Hispanic Heritage Month, celebrated each year from September 15 to October 15, honors the profound impact and significance of Hispanic and Latinx histories, cultures, and contributions (US Census Bureau, 2022). This month-long celebration acknowledges the rich heritage of these communities and their lasting influence on American society across various fields, including politics, the arts, and sciences (Smithsonian Institution, n.d.).
Each year, the Latinx community in the United States contributes approximately $800 billion to the U.S. economy while owning 4.7 million businesses (SLEI, 2023). However, members of Latinx and Hispanic communities must face numerous challenges, including wage disparities and significantly reduced access to funding (Steen, 2021).
A 2022 report by Bain & Company and the Latino Donor Collaborative constituted that if Latinx-owned businesses were to grow at the same pace as the U.S. average, the economy would grow by $1.4 trillion (Latino Donor Collaborative, 2022). And by 2030, $3.3 trillion (Latino Donor Collaborative, 2022).
In McKinsey, Pérez (2022) also noted that
“addressing the barriers preventing Latinos from full economic participation could have a multitrillion-dollar impact, unleashing their entrepreneurial spirit, creating millions of jobs, driving consumer spending, and building intergenerational wealth” (para. 1).
This context emphasizes the importance of initiatives focused on supplier diversity, such as the work undertaken by the Northwest Mountain Minority Supplier Development Council, which aims to empower minority businesses and promote equitable access.
As of October 2024, nearly 20% of the Northwest Mountain Minority Supplier Development Council’s directory consists of Hispanic and/or Latinx businesses. Below, we have selected a few of these exceptional businesses to highlight during Hispanic Heritage Month and beyond:
Sir Walter Candy Co.
Inspired by his sister’s host dad’s passion for candy making and the cherished recipes passed down to him, Alfonso Porras began dreaming of creating his own candy.What started as selling candy at local farmers markets in the late 90s has blossomed into a 36,000-square-foot facility over the years, where this multi-generational family business brings its mission to life across the entire nation: spreading happiness, one sweet treat at a time, while preserving the art of candy making.Instagram: https://www.instagram.com/sirwaltercandy/
Website: https://sirwaltercandy.com
Online Shop: https://sirwaltercandy.com/shop/
- ELYON International
While Carmen Nazario was serving in the US Army, which she had joined on a whim, she found her true calling: computer programming. Followed by years of trailblazing through the corporate world, she founded ELYON International in 1997 with a single corporate customer.
27 years later, ELYON International is a powerhouse, delivering cutting-edge Enterprise IT Services & Solutions, Geographic Information Systems (GIS), Investigation Services, and professional support to government agencies and Fortune 500 companies.Carmen’s leadership blends a military mindset of precision with entrepreneurial savvy, turning challenges into opportunities and opportunities into achievements.
Website: https://www.elyoninternational.com
- Javier’s Mexican Food
Originally from a struggling village near Zacatecas, Mexico, Javier Chavez decided to immigrate to the United States without a penny to his name.After years of working tirelessly as a dishwasher, cook, and restaurant manager, the doors to Javier’s very own Authentic Mexican Food Restaurant opened in 1991.
Ever since then, the family business, which now spans over six restaurants throughout Utah, has been providing its guests with excellent Mexican food and friendly service, making everyone feel welcome and at home.Facebook: https://www.facebook.com/javiersmex/
Website: https://www.javiersmexicanfood.com
Restaurant locations and hours: https://www.javiersmexicanfood.com/contact-information
To order online: https://www.javiersmexicanfood.com/order-online
- Proactiviti
In 2022, Proactiviti was founded by Jose Saenz, Mario Jaspers-Faijer, and Carolina Timpe as a hispanic-first business that brings nearshore hiring and staff augmentation services to organizations in North America.Jose, Mario, and Carolina set out to give their clients a different way to hire contingent and full-time talent across technology, business operations, and support, all whilst bringing more financial freedom financial freedom and career stability to the LATAM region.
Website: https://www.proactiviti.com/
If you would like to get your Minority-owned business certified with the Northwest Mountain Minority Supplier Development Council as well, click here.
Sources
Latino Donor Collaborative, (2022). Closing The Capital Gap. https://latinodonorcollaborative.org/reports/2021-ldc-bain-closing-the-capital-gap-fueling-the-promise-of-latino-owned-businesses-report/
Smithsonian Institution. (n.d.). Hispanic Heritage Month. National Museum of the American Latino. https://latino.si.edu/learn/teaching-and-learning-resources/hispanic-heritage-month-resources/hispanic-heritage-month
Pérez, L. (2022). The economic power of Latino entrepreneurs and consumers | McKinsey. https://www.mckinsey.com/featured-insights/sustainable-inclusive-growth/what-will-it-take-to-boost-latino-economic-power
Pérez, L. et al, (n.d.). The economic state of Latinos in America: The American dream deferred .https://www.mckinsey.com/featured-insights/sustainable-inclusive-growth/the-economic-state-of-latinos-in-america-the-american-dream-deferred
Stanford Graduate School of Business. (2023). 2023 State of Latino Entrepreneurship. . https://www.gsb.stanford.edu/faculty-research/publications/state-latino-entrepreneurship-2023
Steen – Stanford Graduate School of Business. (2021). Latino Entrepreneurs Face—And Can Overcome—Funding Obstacles. https://www.gsb.stanford.edu/insights/latino-entrepreneurs-face-can-overcome-funding-obstacles
US Census Bureau (2022). Hispanic Heritage Month 2022. Census.Gov. https://www.census.gov/newsroom/facts-for-features/2022/hispanic-heritage-month.html