The Latino Coalition’s new partnership with the Direct Selling Association pushes for increased diversity in the small business world.
A new partnership between The Latino Coalition and the Direct Selling Association (DSA) will promote the growth of Latino small business and entrepreneurship.
Latino-owned businesses are the fastest-growing segment of small business, bringing in $500 billion in revenue each year, said TLC Chairman and Former Administrator of the U.S. Small Business Administration Hector Barreto. The partnership with DSA will help lower barriers and provide more opportunities to Latino entrepreneurs to encourage continued growth.
“This is a market that is growing very fast, and it’s a market that is looking for opportunities,” he said.
The new partnership will open up networking and collaboration between the two organizations’ members. DSA members—who sell products and services through independent entrepreneurs—will gain access to Hispanic entrepreneurs, creating a more diverse salesforce and market. For example, DSA will have access to TLC’s database of Hispanic small business owners, providing a means of direct communication.
“Some corporations may not really understand [the Hispanic] market, may have a hard time getting their arms around it, and they’re looking for people that can advise them, consult with them, and provide them warm introductions and positive access to this market,” Barreto said. “We could play that role.”
TLC members will connect with investors and receive information about how to gain traction for small business exploits. “For our members, it’s to explain to them how these companies operate, the different opportunities, and basically allow them access to those opportunities and information,” Barreto said.
This would particularly help the portions of the Hispanic community who may not have the same access or visibility, like Hispanic women who are starting small businesses in the U.S. at a rate six times faster than any other group. Barreto said the connection will help clear up misunderstandings around how organizations like DSA function and can help.
“They need to understand how those opportunities work, have a realistic expectation of how long it will take, what it would take to invest in terms of time and financial resources,” he said. “We can help communicate some of that information.”
To facilitate networking between the members, DSA and TLC will cohost two small business summits in Washington, DC, and Los Angeles that focus on Hispanic business.
“We’re excited to welcome DSA to our coalition, because direct selling offers upward mobility to millions of Hispanic Americans,” TLC National Executive Director Allen Gutierrez said in a statement. “As all small business owners, Latino entrepreneurs value hard work and independence. The formation of this partnership will significantly benefit small businesses and strengthen them in the long run.”