HISPANIC WOMEN SURGE IN BUSINESS ROLES

Hispanic women are surpassing other groups in their ability to start and run businesses, a trend that will only increase, according to experts taking part in Denver at the first Latina Summit of the U.S. Hispanic Chamber of Commerce. "Latin women are leading small-business growth in this country. This amazing information is important in itself, but it's even more important taking into account the economic problems the country's entire business community has faced in recent years," Elizabeth Vasquez Gallagher, the vice president of the USHCC, said Thursday. Businesses owned by Hispanic women have grown almost 125 percent in the last decade, Vasquez Gallagher said, citing a report by the Center for Women's Business Research. In fact, more than a third of Hispanic businesses are currently run by women. And according to the U.S. Bureau of Labor Statistics, from the year 2000 to 2007 the number of Hispanic women in high-level business and professional positions grew between 20 and 23 percent. "The tremendous success and growth of Hispanic business in this country is inspiring. We can learn much from this success," David Lizarraga, chairman of the USHCC board, said. In 2002, there were 1.6 million Hispanic non-farm businesses generating annual revenues over $220 million.
"The tremendous success and growth of Hispanic business in this country is inspiring. We can learn much from this success," David Lizarraga, chairman of the USHCC board, said. In 2002, there were 1.6 million Hispanic non-farm businesses generating annual revenues over $220 million. At present it is estimated that there are 2.5 million Hispanic businesses, of which close to 750,000 are run by women, with total revenues of more than $46 billion per year. Among Hispanic businesswomen, 22 percent are involved in health or social services, 19 percent in service industries, 17 percent in administration and 11 percent in sales, while the rest are divided among professional and scientific enterprises along with other businesses. In comparison, 21 percent of Hispanic men's businesses are in construction, 14 percent in services, 11 percent in transportation and another 11 percent in administration. For Linda Alvarado, president and general manager of Denver-based Alvarado Construction and the first Hispanic woman to own a Major League Baseball team, the Colorado Rockies, "Hispanic women are changing the labor force, because we're no longer just consumers but now we're also leaders." "We take care of the house and we build houses. We make bread and earn our daily bread. Stereotypes die slowly and we should not have stereotypes of ourselves," she said.