As we enter Latinx Heritage Month (September 15th – October 15th) and the world celebrates the roles that members of the Latinx community play in today’s society, it is important to highlight the contributions and superpowers of an often overlooked population: Latinx women.
Latinx Heritage Month is a national celebration to honor the history, culture, and influence of past generations who arrived in America from Spain, Mexico, the Caribbean, Central, and South America. The celebration started in 1968 under President Lydon Johnson’s administration as a one-week event. Later, President Ronald Reagan extended the event to a month-long celebration. In commemoration of Latinx Heritage Month, Walker’s Legacy has compiled the top 3 things to know about the powerful presence of Latinx women.
1. Latinx Women Hold Purchasing Power
Latinx women are pushing their families to buy homes. According to a study released by The National Association of Hispanic Real Estate Professionals, Latinx women can be credited with the spike in Latinx homeownership, due to their perceived roles within the household.
Did You Know…
- 91% of Latinx women surveyed believe that buying a home is the soundest investment they can make
- 61% of Latinx women surveyed think they will make most of the decisions in their next home buying process
- On average, the women surveyed stated that they are responsible for 69% of household purchases over $100, and one-third of them reported being responsible for all of these purchases
2. Latinx Women Get Down To Business
Latinx women are thriving as business owners. According to the Walker’s Legacy Latinx Women Entrepreneur Fast Facts Sheet, Latinx women are making substantial strides in business despite having limited access to resources like funding, mentorship, and venture capital.
Did You Know…
- Nearly half of Latinx-owned companies are owned by women
- For Latinx women-owned businesses, entrepreneurship grew by 180%
- The number of Latinx women entrepreneurs grew at a faster rate than any other group – 137% between 2007 and 2016
3. Latinx Women Rise To The Occasion
Latinx women face many of the same challenges as most women of color entrepreneurs. Despite these groups of women entrepreneurs growing in numbers, their revenue and number of employees remain the same. In 2016, their unemployment rate was around 6.3%, compared to 4.3% of non-Latinx women.
Did You Know…
- Foreign-born Latinx women are more likely than their native-born peers to encounter language barriers or lack of access to networks.
- Latinx women are achieving higher education at a higher rate than their male counterparts. But Latinx women, like their non-minority peers, also face a gender wage gap when getting a paycheck from someone else.
- The rapid growth of Latinx-owned firms comes despite a recent downward trend in the U.S. Latinx population growth rate. That is, Latinx businesses are growing at an even faster rate than the U.S. Latinx adult population.
As we mark the beginning of Latinx Heritage Month, Walkers Legacy is proud to celebrate the cultures and contributions that Latinx women have contributed to entrepreneurship and business all over the world.