Today, Square and Hello Alice unveiled a new study to outline the challenges and opportunities faced by Hispanic-owned small businesses and to provide resources to meet their needs. Hello Alice, the free platform helping over one million small businesses grow, released this latest survey report in honor of Hispanic Heritage Month. The survey was conducted in partnership with Square, the technology company helping sellers of all sizes run and grow their businesses, and The United States Hispanic Chamber of Commerce (USHCC).
The survey of 2,700 Hispanic small business owners across the United States on the Hello Alice platform revealed the largest challenges facing the Hispanic demographic: raising capital through funding or credit building opportunities, obtaining raw materials or inventory, acquiring customers, growing their staff, and effectively marketing to new and returning customers. Expanding access to financial education, grants, loans, credit cards, and other types of capital continues to be one of the best ways to address these challenges and help Hispanic owners further grow their companies and contribute to the overall global economy.