Building wealth for Latino- and Hispanic-owned businesses and entrepreneurs

Minority-owned businesses—particularly Latino- or Hispanic-owned businesses—are at a systematic disadvantage for business development and growth, as they have been denied equal opportunities for wealth accumulation and systematically devalued in the marketplace. These structural barriers also extend to areas such as government contracting and procurement, access to capital, banking status, and ownership of employer firms—a key measure of wealth generation, Yet as prior research from Brookings and Gallup has noted (and contrary to the patterns observed in ownership rates), entrepreneurial traits tend to be higher among Black, Latino or Hispanic, and multiracial workers. We hope this conversation can spotlight and uplift not only the opportunity of investing in Latino- or Hispanic-owned businesses and entrepreneurs, but also the tool, approaches, and policy recommendations necessary to remove those same structural barriers.

On Monday, September 30, Brookings Metro will bring together a range of stakeholders to explore key insights, data, and policy recommendations for increasing the proportion of business ownership in Latino or Hispanic communities. The program will feature a research presentation from Andre Perry, senior fellow and director of the Center for Community Uplift at Brookings; a moderated discussion with leading experts; and a fireside conversation with Michael Arougheti, CEO of Ares Management Corporation and chair of the Ares Charitable Foundation board of directors.

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