Small businesses have long been the driving force behind innovation and creativity. Their ventures often form at the cross-section between a personal passion, practical application, and a market opportunity. The emergence of the gig economy transitioning to the side hustle economy amid the pandemic allowed entrepreneur dreamers to transform their visions into reality. This entrepreneurial spirit, coupled with the convergence of technology, has opened up unprecedented opportunities for small business owners. In my work with small businesses across the country, one of the cohorts of small businesses that I have seen follow this route to entrepreneurship with a unique vigor and focus is in the Latino community.
And it goes beyond my observations – in fact, according to a Stanford University study, Latino small businesses constitute the fastest-growing segment of the business landscape in the United States. Their resilience, adaptability, and commitment to their communities contribute significantly to economic growth.
A shining example of this wave of entrepreneurship is Dallas-based Lupita Rios.
Like many entrepreneurs, Lupita’s path to owning a small business wasn’t straightforward. Born in the United States, she spent her formative years in Coatepeque, Guatemala, before returning to the States at the age of 12. Her unwavering passion for science accompanied her throughout her life, leading her to pursue a PhD in neuroscience. However, in 2020, Lupita found herself grappling with mental health issues. Amidst this challenge, she discovered an unexpected remedy in working with plants. Little did she know that this hobby would soon blossom into her thriving business called Pita’s Planters.
Starting Pita’s Planters filled Lupita with joy, but her scientific background didn’t prepare her for the intricacies of running a business. As she pursued her PhD, she simultaneously navigated the world of entrepreneurship. Fortunately, her partner, David, stood by her side, offering unwavering support. Upon standing up Pita’s Planters, Lupita realized technology was key to transforming her hobby into a prosperous business.
But like many Latino small business owners, knowing she needed to invest in technology versus how to start were two very different things. In particular, Verizon’s 2024 Latino Small Business Survey highlighted nuances in the needs of Latino small business owners. According to the data, Latino small business owners were eager for external support. In fact, more than 4 in 5 say they’re interested in programs offering the ability to speak with IT experts about new technologies (88%) and eCommerce experts about their business’s digital presence (87%).
As Lupita needed technology advice in launching her venture, we at Verizon Business were lucky enough to partner with her. And while like many businesses, Lupita needed tools to manage inventory, connect with customers, and streamline operations, she also needed support externally. But Lupita’s largest challenge was scaling her time enabling her to pursue her education while launching the business. To solve this, Lupita leveraged our OneTalk platform, a multi-line telephone solution connecting office phones to mobile devices, providing business telephone features on any common device. This tool became an essential tool for Pita’s Planters. With OneTalk, Lupita could seamlessly manage calls, collaborate with her team, and provide excellent customer service. For Lupita, the investment in technology simplified the logistics of running a business and reduced the barriers to reaching customers, which allowed her the time to continue her education and achieve her mission to spread kindness in her community.
This investment in technology is not unique to Lupita but is a trend across the Latino small business community. In the last year, according to our survey, Latino small business owners are prioritizing technology (41%) and improvements to existing products/services (41%). Additionally, over 4 in 5 Latino small business owners say their business has leveraged digital tools and technologies to change their processes and customer experiences (86%) or create new opportunities to make money (81%) over the past three years.
Lupita’s focus to support her community also aligns with fellow Latino small business owners. In the past year, they share a remarkable confidence in their local economies. In fact, more than two-thirds of Latino small business owners (68%) expect their local business landscape to thrive in the coming months – 21% higher than their non-Latino counterparts.
What fuels this optimism? It could be the unwavering focus on community. For Lupita, her mission extends beyond profits – it’s about doing good and spreading kindness within her neighborhood. And perhaps this community-centric approach has been a secret ingredient in the remarkable growth of Latino small businesses over the past several years. After all, new ventures thrive when supported by their local communities. So, if you’re starting a business, remember that your neighbors, customers, and fellow entrepreneurs are your best allies.
Starting a business is no walk in the park, as Lupita can attest. However, armed with passion, the right tools, and a supportive community, anyone can embark on the entrepreneurial path. Lupita’s story mirrors that of countless successful business owners across the U.S. While she still has room to grow her business, she knows that her community will be there to lift her up. In this dynamic landscape, small businesses continue to be the backbone of our economy and prove that dreams, when fueled by determination and innovation, can indeed become reality. As I am coming from the technology provider side, I’ve seen how innovations in connectivity, e-commerce, and collaborations have made it easier than ever before for the next Lupita and we are here to help them!
Aimee Novak is the Vice President of Nationwide Small Business for Verizon.