The Economy After a Pandemic: Establishing Latina Entrepreneurs in America
Posted on 10/15/2021 @ 09:15 AM
By Priscilla Garcia, Economic Empowerment Program Coordinator
COVID-19 impacted industries and the economy differently and the effects are everlasting. According to UnidosUs, the unemployment rate amongst Latinas in April of 2020 was 20.2% and a 30% loss in Latina-Owned businesses compared to 20% amongst all overall businesses. Latinas were one of the hardest hit demographics by the pandemic, they were the ones most likely to face food and housing insecurities and income losses. In order to help Latina entrepreneurs become successful in their fields, they need the tools necessary on how to run successful and sustainable businesses.
In February 2021 it was reported that there are one million fewer Latinas back in the workforce even though jobs have been opening back up again. 37% of Latinas have reported that the pandemic had a tremendous impact on their finances and still have not been able to recover. Post-pandemic LULAC is aiding in helping Latinos across the country recover from the effects of COVID-19 and aid those who want to take this opportunity to establish their own businesses and aid in stimulating the economy.
In 2021, The League of United Latin American Citizens (LULAC), in partnership with The Coca-Cola Foundation awarded 6 new sites in the first phase of the Latina Entrepreneur Academy (LEA). LEA provides disadvantaged women the skills and resources necessary to be successful entrepreneurs. The academy will provide a series of informational sessions on various topics related to establishing and sustaining a small business: how to build a business plan, budgeting, marketing, networking, enhancing investor strategies, etc, that will better prepare women entering the business arena. Through this initiative, LULAC hopes to nurture the entrepreneurial spirit and provide support to driven Latinas who seek to launch and/or expand business endeavors.
LEA is currently in its third year of programming.Since its inception, LEA has grown tremendously. With so many young Latina entrepreneurs wanting to participate, the program has had to introduce a second phase to meet the needs of so many willing contenders that will take new applications in the Spring of 2022.
A total of 655 Latina entrepreneurs have participated in its 14 academies. At the end of the academy the participants are given the opportunity to compete in a competition amongst their peers for a chance to win some seed money to establish their small businesses. The following businesses have been awarded a total of $6,000 in 2020 to help them succeed as a small business.
Nancy Flores- Austin, TX-
At the end of the academy Nancy’s goal was to open her own digital media company offering representation and coverage of Latinx community news and culture in the Austin, TX area. She wanted a digital media company that would create a community and sense of belonging to allow for those represented to become engaged and involved in local issues and community.
Aura I. Aráuz- Germantown, MD-
House Delikatessen House Delikatessen is a family owned and operated business focused on offering delicatessen products that are high quality, hand crafted and have exceptional flavors. Aura is dedicated to keeping up with the demand fromtheir customers and was planning on expanding her business to offer more products from specialized suppliers.
Trina Price- Austin, TX 3rd place $500-
PEB Trina’s business is PEBSKY Staffing Services, (PSS) a Professional Employer Organization that acts as a co-employer in the hiring process for small/mid-size companies and remote workers. PEBSKY Staffing Services came into existence when Trina was a full-time college student, full-time worker, full-time single parent.
To learn more about Coca-Cola and LULAC’s partnership visit www.lulac.org/academy.