Houston: A land of opportunity for Latino entrepreneurs

Por

Patricia Tepozteco

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Publicado: 22/10/2024 · 11:42 a.m. MX | Actualizado: 22/10/2024 · 11:42 a.m. MX

Houston, Texas, is an attractive landscape for Latino-driven businesses. Hispanics make up 47.5% of the population, and Latinos comprise 62% of the workforce. The city’s diversity—over 144 languages are spoken—makes it an ideal setting for multicultural businesses with high growth potential.

In an interview with Heraldo USA, Adriana González, CEO of the Latino Business Chamber of Houston, noted that Latino-owned businesses have recently shifted toward technology, energy, and financial services. Meanwhile, sectors like marketing, consulting, and healthcare are gaining ground, adding to traditional industries such as hospitality and construction.

Key factors for starting a business in Houston, Texas

For González, one of the foremost challenges in starting a business abroad is understanding the local business ecosystem. To achieve this, one must surround oneself with advisors and supporters who can guide entrepreneurs through adaptation.

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She highlighted that conducting market research is crucial, enabling businesses to identify unique selling points that can lead to success. For instance, Texas offers a vibrant nostalgia market that caters to the demand for products from Latin American countries.

“We’re always looking for what reminds us of home. But what will we bring to the market? That’s a question to answer before investing in a warehouse, accountants, or lawyers. It’s tough, and profits don’t come overnight—it takes time,” she emphasized.

Tips for starting or establishing a business in Houston

“A business doesn’t grow on its own,” says the CEO of Houston’s Latino Business Chamber, stressing the need for a support network. Unlike in Latin America, where entrepreneurs often do it all, success in the U.S. requires delegating tasks, such as accounting, to others.

Education, training, and the pursuit of support are essential to business success, and González suggests starting these efforts from one’s home country to ease the establishment process in Houston.

“Surround yourself with experts who can guide you, and don’t settle for the first advisor. Interview two or three, find banks where you feel comfortable, and trust the people who can make the move easier,” she advises.

The business association says patience and perseverance are key, as it can take three to five years for a business to establish itself, generate profits, and achieve stable growth. “Latinos are hard workers, and the early years demand a relentless 24/7 effort. It’s crucial to evolve from an entrepreneur into a business owner,” notes the CEO.

She adds, “The American dream requires commitment: education, continuous learning, surrounding yourself with experts, and above all, not letting go of that dream.”

How Houston’s Latino Business Chamber supports new businesses in Texas

The Latino Business Chamber of Houston is a nonprofit organization dedicated to supporting Hispanic businesses. Its members come from Mexico, Bolivia, Ecuador, Venezuela, Colombia, and beyond.

Their efforts are grounded in four pillars: education, information, alliances, and support to help businesses grow. They also provide guidance for new entrepreneurs, helping them shape their ventures to increase their odds of success.

Patricia Tepozteco

Patricia Tepozteco