Growing up in a small town in south Texas, our tenacious and resourceful Hispanic business community represented a path toward opportunity and hope for the future. An entrepreneurial spirit flowed through the community as folks opened small businesses–catering, photography, construction–to help make ends meet. Business owners would harness every available resource to maximize their venture’s viability and profit–their businesses were a reflection of who they were and where they were going. Today, Hispanic small businesses are harnessing the most valuable of resources: Mobile technologies and tools that are transforming small business.
Latino entrepreneurs own more than 3.1 million small businesses nationwide and together contributed over $468 billion to the American economy last year. This burgeoning community of entrepreneurs is inventive and tech savvy, using what is on hand to build and create, whether it be digital content or a new business venture. So it comes as no surprise that Latino business owners are among the fastest adopters of cutting edge mobile technologies that are transforming the way businesses interact with consumers, process payments, and market their products and services.
A recent report conducted for Mobile Future, the U.S. Hispanic Chamber of Commerce and Latinos in Social Media, “Hispanic Business Growth and the Mobile Future” illustrates how entrepreneurs are embracing the varied and sweeping capabilities wireless offers. Consider one statistic: 90% of the Latino small business owners surveyed reported seeing benefits to their business as a result of mobile adoption, with 62% reporting at least five percent business growth to mobile technology. While striking, these figures aren’t surprising, as Latinos are among the earliest adopters of mobile technology in the United States. According to an infographic released by Mobile Future last year, 60% of Latinos own a smartphone and 47% have cut the cord and converted to wireless only—this is compared to 34% of all US adults.
It can be said, Hispanics were the first adopters of mobile in large part to remain connected with family members in other countries. With the introduction of smartphones and tablets, mobile has become a multi-use tool, used not only to communicate, but to facilitate business management and growth.
I’ve witnessed the transformative effects of wireless technology on my sister’s small custom classroom décor shop. Mobile apps have allowed her to manage her finances, connect with clients across the region and instantly update her website with new products and designs—all right from her smartphone. My sister’s experience reflects what 67% of study respondents reported: the use of mobile enables them to respond to clients in a more timely way. Like my sister, 37% of the respondents have created a mobile-friendly website, and 31% use mobile payments.
The Hispanic business community recognizes that continued investment in wireless technologies is critical to success in today’s increasingly digital marketplace. Many respondents in the survey are looking for training and tools to help maximize the benefits of mobile technology and capitalize on untapped business opportunities–53% are looking for more mobile marketing opportunities, 43% are seeking more new business apps, 36% are interested in learning how to code mobile apps, and 35% are interested in seeing more bilingual mobile apps.
Clearly, mobile technology is creating new economic opportunities for Hispanic businesses across America. Our 21st century economy is being driven by mobile innovation that is removing barriers and creating opportunities. With an entrepreneurial spirit, and a motivation to succeed, there is no doubt that Hispanic small business owners will continue forging a path toward a vibrant mobile future.
Texas native Nydia Gutierrez is communications manager at Mobile Future.
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