Happy Hispanic Heritage Month! We are excited to illuminate a few facts about the history of this month and the important role that Latinx entrepreneurs hold in our economy and TheWMarketplace. Please read on!
Hispanic Heritage Month begins on September 15 and runs through October 15 and celebrates the history, traditions, values and contributions of Americans whose ancestors come from Spanish, Mexican, Caribbean, and Central and South American cultures. Here are some interesting facts and figures about Hispanic Heritage Month and Latinx businesswomen in particular.
Hispanic Heritage Month starts on September 15 because this date is the anniversary of independence for five Central American countries: Costa Rica, El Salvador, Guatemala, Honduras and Nicaragua. In addition, Mexico celebrates its independence on September 16, Chile on September 18 and Belize on September 21.
Hispanic Heritage Month has been observed for more than 50 years. It started as a federally-recognized week in 1968 and was extended to a full month in 1988. This year, the Library of Congress, National Archives, National Endowment for the Humanities, National Gallery of Art, National Park Service, Smithsonian Institution and United States Holocaust Memorial Museum are all hosting activities and events that pay tribute to "the generations of Hispanic Americans who have positively influenced and enriched our nation and society.
Latina Equal Pay Day falls on October 21, 2021, this year. This is the day when the pay of Hispanic women catches up to the previous year's annual pay of non-Hispanic men in the United States. Put another way, it takes Latina workers nearly 22 months to make the same amount as a non-Latina man, and these women reach the milestone later than any other demographic group. In 2020, Latina Equal Pay Day was October 29 and in 2019 it was November 20, so there has been some improvement, but much more is needed.
Hispanic population in the United States has grown 23 percent since 2010, up to 62.1 million people. The increase in population the past decade has been driven mostly by births, not immigration, which is a reversal of trends over the past 30 years.
- Latinx-owned businesses are outpacing the general population rate. According to the Stanford Latino Entrepreneurship Program, "Latina-owned businesses have grown at two to four times the general population rate since 2015... There are 1 million net new Latinx-owned businesses created every five years." But despite this growth, access to capital remains an enormous problem, locking out expansion and opportunity for too many women entrepreneurs.
Latinx entrepreneurs are an important part of TheWMarketplace community of sellers, and hold crucial roles within TheWMarketplace team itself. You can support this community by choosing to shop their businesses -- starting with our collection of Latinx products and services here on TheWMarketplace.