Hispanic Study Lists Top Business Concerns
No author cited
Salt River Project and the Arizona State University Hispanic Research Center,
October 2006
Available
online
Rising fuel costs, deciding how to grow a business, taxes and access to capital are among the most significant challenges facing Hispanic-owned businesses, according to an Arizona State University study. Also, most Hispanic-owned businesses also know about minority- and small-business organizations, but few are members of them.
Those are some of the findings in second annual Arizona Hispanic Business Study, a joint effort by the ASU's Hispanic Research Center and the Salt River Project, which provides water and power in the Phoenix area. The study, conducted this summer by Phoenix-based WestGroup Research, was based on a random sampling of Hispanic-owned businesses through telephone interviews with 544 Hispanic business owners across Arizona, including 116 from Pima County.
Approximately one-third of business owners surveyed experienced some type of discrimination because they were Hispanic or female, according to the study. Discrimination came in the form of having trouble finding a loan, being talked "down to" by a supplier or not having phone calls returned.
Among the smallest concerns of survey respondents were gaining credibility in the community, overcoming negative perceptions of being a Hispanic-owned business and negotiating with suppliers and customers.
Among other findings:
- One in four Hispanic-owned businesses have annual revenues of more than $1 million.
- Less than half promote their Hispanic heritage, network with other Hispanic business owners or are certified as a minority-owned business.
- Three out of four Hispanic business owners use at least some Spanish as part of their business.
