Como Lo Hicimos: The Success of Latino/a Businesses in Michigan
DOI:
https://doi.org/10.33423/jbd.v23i4.6743Keywords:
business, diversity, Latino-owned businesses success, funding, constraints, community participationAbstract
Using data from the same oral history interviews used by Coronado and Martinez (2018), this study describes the success of some Latino businesses operating in Michigan. It is based on interviews with 32 Latino and Latina business owners (LBOs) conducted by researchers at the Julian Samora Research Institute (JSRI) at Michigan State University from 2011 to 2012 in three Michigan cities: Saginaw, Lansing, and Metro Detroit. This study describes the ways and means by which these business owners started their businesses and the success and possible expansion of their activities at the time of the interviews. Almost all had humble start-up operations, relied on their own or family savings, had relatives who owned or operated a business, lacked access to formal financial markets, and had limited knowledge about government programs supporting small businesses. Success was based on hard work and persistence, the pursuit of opportunities, and the use of technology. Most give back to their communities and have expansion plans, either by securing government funds or bank loans.