Economies across the globe face a double-headed threat: record levels of unemployment and towering public debt. Over the past two years, many western governments' response to one has come at the cost of the other; furlough schemes and stimulus cheques have left government balance sheets looking worryingly red.
It’s time to take a more aggressive approach. READ MORE AT THE HILL
Just 18.7% of all businesses in the US are minority-owned, despite ethnic and racial minorities making up 40% of the population. For entrepreneurs of colour who face systemic barriers like a lack of funding, choosing the right location to start or scale a business is important.
If you’re a startup owner of colour looking for funding, resources and support, these top 10 cities are worth relocating to, a JobSage report reveals. READ MORE AT BUSINESS CHIEF
The Chicago Film Office, a division of the Department of Cultural Affairs and Special Events (DCASE) developed a 8-week hands-on skill-based program in partnership with local production, costumes, and camera industry unions and post-production.
The 25 students selected to participate have begun attending virtual and onsite instruction. Each participant is developing specific skill sets in production, editing, accounting, hair/make-up, costumes, grip, lighting, camera and many more industry path
Transforming ideas into reality is one of the most fulfilling things that a small business person does. However, it’s not enough to just have an idea and start a business. To succeed in the long term, you need to put in the work to make your basic brand story thrive through the equally important elements of strategy and execution. READ MORE AT BUSINESS2COMMUNITY
Ernst & Young LLP (EY US) today welcomes 96 Black and Latino founders and CEOs to the 2022 cohort of the EY Entrepreneurs Access Network (EAN). A national business accelerator, EAN is a comprehensive, executive program designed to elevate emerging and established Black- and Latino-owned companies through access to resources, networks and one-on-one mentoring. This marks the second full cohort of EAN participants, after the program officially launched in January 2021. READ MORE AT CISION
Applications for new businesses rose 20 percent last year, after languishing for a decade. Many newly minted founders attribute it to the pandemic.
“People have become disaffected with what they’re doing, and might as well do the thing they've been wanting to do for a while,” says Stewart Thornhill, executive director of the Zell Lurie Institute for Entrepreneurial Studies at the University of Michigan. Some people who were furloughed or laid off near the start of the pandemic became entreprene
With dramatic growth in the U.S. Hispanic population, the number of Hispanic-owned businesses is growing faster than in other ethnic groups. And Latino entrepreneurs are going far beyond the sterotypical blue-collar industries like restaruants, hospitality and construction.
A January report from Stanford University concluded that Latino-owned businesses with employees are more likely than their white-owned counterparts to be technology innovators. The study found that 19% of Latino-owned firms
Latinos in the fight against climate change will gather this week during a virtual summit highlighting the community’s growing environmental activism. By the numbers: 81% of Latinos in the U.S. consider addressing global climate change a priority, compared to 67% of non-Hispanics, according to a Pew Research Center poll. READ MORE AT AXIOS
While Latino-owned businesses are growing at a much faster rate than any other business segment in the country, they continue to face greater barriers to financing and report lower than average revenue per company than white-owned companies, according to new data released last week.
On Friday (January 28), the Stanford Latino Entrepreneurship Initiative (SLEI) released its seventh annual research report, State of Latino Entrepreneurship, exploring the impact, challenges, and opportunities of th
Average annual revenue for Latino-owned businesses ($258,251) in 2020-21 was $82,535, lower than their revenues the previous year ($340,787), a 24.2% decline, according to the annual Biz2Credit Latino-Owned Business Study. The analysis also found that average annual revenue for Latino-owned businesses was $45,435 greater than for non-Latino-owned companies ($212,816).
However, despite some superior performance measures, the funding rate for Latino-owned companies was 34.5%, slightly lower than
The universities and colleges providing students with the most opportunities for long-term economic success are Hispanic-serving Institutions in California, New York and Texas, according to an analysis published Thursday.
Based on the EMI metric, six state schools in California, two public colleges in New York, and two public universities in Texas are doing a better job of promoting economic mobility and a path to the middle class. All of these schools also happen to be Hispanic-serving Institu
Hispanic-owned businesses have been the fastest-growing segment in the U.S. over the past 10 years, their numbers increasing by 34% since 2010, versus only 1% growth for all other business owners, according to a recent Stanford University study. READ MORE AT MEDIAPOST
The tech industry is growing in Arizona and nationally, with net employment in 2018 bringing on more than 260,000 new jobs nationally. Since the employment shortage that followed the Great Recession a decade ago, net tech employment has increased by an estimated 1.9 million jobs. Yet, as the industry is growing, it’s leaving people of color and women behind. READ MORE AT CRONKITE NEWS
Projections show half of all homebuyers nationally will be Hispanic in the next decade. Latinos are the only demographic in the U.S. to increase their rate of homeownership for each of the past six years, according to the National Association of Hispanic Real Estate Professionals. Oklahoma had the fifth-highest growth at 95.5% from 2009 to 2019, according to NAHREP. READ MORE AT THE JOURNAL RECORD
According to a report by UCLA’s Latino Policy & Politics Initiative, Latinas are leaving the workforce at higher rates than any other demographic.
For some Latinas, the mirage of the American Dream faded amid the Covid-19 pandemic, and many chose to divest from the cultural, societal, and professional standards placed on first- and second-generation communities. READ MORE AT REFINERY 29
Latinos are an economic engine for the US. They are the fastest growing minority: by 2030, 1 in 5 workers will be Latino. And they have the highest rate of entrepreneurship of any race: their businesses have grown by 12.5 percent over the past five years, compared to 5.3 percent for White-owned businesses. READ MORE AT MCKINSEY & COMPANY
Latinos are projected to make up 22.4 percent of the US labor force by 2030 and more than 30 percent by 2060. Yet they remain concentrated in roles generally dismissed as “jobs no one else wants to do.” They are underpaid, less likely to have nonwage employer benefits, and disproportionately vulnerable to disruption. The $288 billion annual gap in income compared with non-Latino White workers not only represents lost economic opportunity but has significant implications for Latinos’ ability to
The rise of remote work during the pandemic led several Silicon Valley venture capitalists to escape California, with its wildfires and high taxes. Miami, with a large Latino population, and Atlanta, with a large Black population, have both seen higher interest.
Data from Crunchbase compiled for Reuters showed startups with a Black or Hispanic founder got 3.5% of the record $311 billion U.S. venture funding in the year to Dec. 16, up from an average 2.5% in the previous five years.
Florida and
FOR IMMEDIATE RELEASE:
December 10, 2021
CONTACT:
DCASE Communications, dcase@cityofchicago.org
Jamey Lundblad, Jamey.Lundblad@cityofchicago.org
MAYOR LIGHTFOOT AND DCASE ANNOUNCE NEW “CHICAGO MADE” INITIATIVE TO STRENGTHEN CHICAGO’S TV & FILM INDUSTRY
Innovative workforce development program and public awareness campaign are outcomes of Mayor Lightfoot’s COVID-19 Recovery Task Force
CHICAGO—Mayor Lori E. Lightfoot and the Chicago Film Office at the Department of Cultural Affairs and Spec
Latinos will make up more than 1 in 5 U.S. workers by 2030. Yet despite high rates of job participation and entrepreneurship, a massive wage gap is one of the factors hindering their economic mobility, a new study has found.
The wage gap for Latinos is as high as $288 billion per year, according to "The economic state of Latinos in America: The American dream deferred," a report by McKinsey & Co. in partnership with the Aspen Institute, which was released Wednesday. READ MORE AT NBC NEWS
