Connect with us

Hi, what are you looking for?

Business

Latino businesses in Springfield get financial boost

“It will help to enable members of the Hispanic community too be able to afford starting a business and go after their dreams,” said Eastfield Mall property manager Dave Thompson.

The Eastfield Mall and Massachusetts Latino Chamber of Commerce are working together to provide a local, Hispanic-Latino-owned business space inside the mall for one month at no cost.

The mall features a pop-up shop every month that is expected to bring in 12 new Hispanic-Latino “micro-businesses” this year. 

Massachusetts is home to more than 30,000 Hispanic-Latino businesses, 3,800 of which are employer firms that generate over $4.2 billion in annual revenue and create more than 27,000 jobs, according to Betty Francisco CEO of Boston Impact Initiative, co-founder of Amplify Latinx.

“Our economic recovery and growth depends upon the success of Latino businesses and the development of Latino talent in high-growth industries that are in need of diverse talent,” wrote Francisco in an opinion article calling for investments in Hispanic-Latino and Black businesses.

Hispanic-Latino consumer purchasing power is $1.7 trillion today and projected to grow to $2.6 trillion in just three years, according to the LDC 2020 Latino GDP Report. 

State Representative Orlando Ramos secured $100,000 to help fund the Pop-Up Shop Program. “Small and microbusinesses have struggled in the pandemic,” Ramos said. “Many were owned by Black and Latino business owners.”

Businesses can use the grants of about $1,000 to launch a marketing campaign, hire an accountant or cover unexpected expenses as the COVID recovery drags on, said Andrew Melendez, director of the Massachusetts Latino Chamber of Commerce.

“Black and Latino micro-businesses are the Commonwealths’ economic engine, and now more than ever, they are in need of direct support with capital infusion and tools to continue to be successful post-pandemic,” Melendez said.

More information is available from the chamber by emailing LatinoChamberMA@gmail.com or calling 413-342-1292.


Publisher’s Note: This story is an aggregate from MASSLive, WWLP, and

Cover Photo: ‘Our Modern Love‘, candle and craft vendor, (Credit: Eastfield Mall)

You May Also Like

Business

Business owners and local leaders celebrated the opening of 16 new businesses at the Eastfield Mall in Springfield on Tuesday, all Hispanic-Latino-owned. Borisushi, a...

Business

With the dramatic growth in the U.S. population, the number of Hispanic-Latino-owned businesses is growing faster than in other ethnic groups. Carl Palme is...

Business

Massachusetts agencies spent $4.8 billion in 2020, but Black-owned businesses were awarded only $11 million in state contracts and Hispanic-owned businesses got only $12...

Sign up for our Newsletter
Stay up-to-date with the latest news from MALN and the LNN Network.