September 9, 2019, Boston, MA. — Amplify Latinx—a non-partisan convener on a mission to build Latinx economic and political power in Massachusetts— is partnering with community organizations, business leaders and elected officials to launch the first-ever National Support Latino Business Day on September 14 to encourage people to shop at Latino-owned businesses and highlight the significant contributions Latinos make to the U.S. economy. Lead partners working to change the national narrative about Latinos living in the U.S. include the U.S. Hispanic Chamber of Commerce, Aspen Institute’s Latinos & Society Program, Board of Hispanic Caucus Chairs, and Univision, among many others.
“We are thrilled to join the Support Latino Business Day initiative to recognize the contributions of our Latino-owned businesses in Massachusetts and support their growth through this national collaboration,” said Betty Francisco, Co-Founder of Amplify Latinx. “Over 10 percent of the Bay State’s small businesses are Latino-owned and are contributing significantly to our job creation, our tax base, and overall economic growth. The Support Latino Business Initiative compliments Amplify Latinx’s PowerUp Latinx Biz initiative focused on activating Massachusetts’ untapped economic potential by increasing visibility, growth and economic opportunity for Latinx businesses.
Amplify Latinx will work with Support Latino Business Day to bring national visibility to the Latinx business in Massachusetts through Amplify’s new PowerUp business directory, a free directory which seeks to connect Latino owned businesses with each other and to business resources, services and mentors to scale their growth. To kick off Hispanic Heritage Month, the City of Boston will also declare September 14th “Support Latino Business Day.” By highlighting and empowering the Latino business community, Support Latino Business Day will give a platform to Latino entrepreneurs who are changing the landscape of today’s economy.
According to a recent Stanford University study, Latino entrepreneurs are starting businesses faster than any other group, driving $700 billion into the U.S. economy annually. Latinos currently represent 18.3% of the United States population and are projected to reach 29% by 2060. Unidos US projects that Latinos, the youngest and largest minority in America, will account for about 20% of the U.S. workforce in five years. This increase in Latino labor growth, coupled with a rapid rise in educational attainment, is projected to contribute more to U.S. GDP growth than non-Hispanic labor by 2025, according to Peterson Institution for International Economics (PIIE). Latino consumers currently represent 1.7 trillion in buying power and expected to continue growing over the next two decades.
In coming together, there is no limit to the endless opportunities we can make readily available to our Latino business community. As consumers, allies and supporters, we can inevitably contribute to the greater good of our futures. We invite all to be a part of the Support Latino Business movement, a narrative focused on the positive contributions, stories, and achievements on our country’s diverse make-up.
About Amplify Latinx
Amplify Latinx is a non-partisan, collaborative movement whose mission is to build Latinx economic and political power by significantly increasing Latinx civic engagement and representation in leadership positions across sectors. Amplify Latinx launched PowerUp Latinx Biz, a first of its kind, Latinx-led collaborative initiative focused on activating Massachusetts’ untapped economic potential by increasing growth and economic opportunity for Latinx-owned businesses. Our mission is to create visibility for Latinx-owned businesses, meaningfully connect them to existing resources, and recognize them as an influential consumer market that must be engaged by our entire business community. For more information or to get involved, visit https://powerup.amplifylatinx.co and follow on social @AmplifyLatinx.
About Support Latino Business Day
Support Latino Business Day is a nation-wide initiative shining a light on the crucial economic contributions Latino businesses make, the jobs they help create, and the unique role they play in their local communities. Behind it, is one of the nation’s most diverse network of partners – including business leaders, owners, entrepreneurs, local activists, community organizations, elected officials, and corporate brands – coming together to tell stories about the impact Latino business have today, and the endless possibilities they’ll be realizing tomorrow. Support Latino Business Day represents the campaign’s first step in the building of a nexus of resources dedicated to the 360 support of diverse businesses, creating a strong network, innovative support hub, financial impact fund, mentorship and more. For more information or to get involved, visit https://www.supportlatino.biz and follow on social @SupportLatinoBiz.