U.S. Department of Commerce

10/14/2021 | News release | Distributed by Public on 10/14/2021 09:10

Recognizing Hispanic American Heritage Month: Commerce Department Offers Valuable Resources and Services for Hispanic Entrepreneurs and Hispanic -Owned Businesses

The Hispanic American community is deeply rooted in the history of the United States and are an integral part of the rich fabric of our nation. True to our mission of creating the conditions for economic growth and opportunity-for all Americans-the Commerce Department works every day to support and invest in the Hispanic business community to create jobs and promote economic growth.

Over our Nation's history, the Hispanic American community in general, and the Hispanic American business community in particular, has provided invaluable contributions that have enriched America's economy and overall society. With the number of Hispanic Americans increasing as a share of the United States' overall population, we look forward to even more contributions from this vital community.

As of April 1, 2020, the Hispanic share of the U.S. population was 18.7%, making people of Hispanic origin the nation's second largest racial or ethnic group. Hispanic-owned companies are a quickly growing segment of U.S. businesses. Hispanic-owned employer firms account for over 40% of all minority-owned employer firms in the U.S., contribute $423 billion in U.S. economic output, and produce 2.87 million jobs per year.

The Commerce Department and its multiple agencies and bureaus offer a wide range of services to help U.S.-based companies, entrepreneurs, and innovators compete and be successful while strengthening the United States' role as a global and are uniquely equipped to help Hispanic and other minority owned businesses through the Department's Minority Business Development Agency (MBDA).

In addition to our MBDA offerings, below are a list of services and resources ranging from demographic data, grant opportunities, assistance with exporting as well as valuable resources for Hispanic American innovators, entrepreneurs and minority-owned businesses.

Additional government tools and resources for businesses, entrepreneurs and minority and women-owned businesses can also be found at theU.S. Small Business Administration.