The National Association of Women Business Owners (NAWBO) is honoring and supporting Latina business owners through a meaningful collaboration with the Arizona Hispanic Chamber of Commerce (AZHCC). The new partnership coincides with Hispanic Heritage Month (Sept 15 – Oct 15) through a series of “spotlights” featuring prominent Latina business owners in the Valley. Each of these “spotlights” will highlight the accomplishments and impacts that Latina entrepreneurs have had on the Arizona market, and will be prominently featured across NAWBO’s social media channels.
Monica Villalobos, President and CEO of the AZHCC, believes the partnership will be mutually beneficial to both organizations. “We need collaboration more than ever. Even though this year business owners of all genders, races and ethnic groups were forced to navigate completely new territories and make difficult decisions – Latino entrepreneurs and women owned enterprises are among the majority directly impacted by the economic fallout from COVID-19. Working together now and pooling our collective resources is critical to the success of our state’s recovery strategy for all small businesses.”
According to a survey conducted online in late March by the Stanford Latino Entrepreneurship Initiative, 86% of all Latino small business owners reported significant negative impact on their business by the pandemic. Nearly two-thirds said that they will not be able to continue operating beyond six months if current conditions continue.
On average, women and minority owned businesses operate with investments of $213,000 and $185,000 respectively, compared to the median investment of nearly $1 million for all businesses according to Datos AZ 2019 figures published by AZHCC. The recent economic downturn caused by COVID-19 has negatively impacted Latina owned businesses far more than the national average for all businesses. NAWBO hopes to encourage Latina business owners to attend events designed to help them learn how to continue growing their business. These programs will be offered at member exclusive prices to all AZHCC women members in an effort to make them more accessible than ever. In addition, AZHCC intends to give NAWBO members discount of 20% on annual dues to encourage cohesion and collaboration between the two organizations.
Jean Briese, President of NAWBO Phoenix, believes the celebration of Latina business owners here in Phoenix shouldn’t be limited to just one month. “This year has taught us to show up more supportive for each other. While we are all in the same storm, we’re not all in the same boat. As women in business we acknowledge and honor the unique challenges faced by the diverse ethnic groups represented within our organization. We also recognize the power of collaboration and we don’t think it should be limited to a day, or a month in a year. Our commitment is here to stay.” The partnership won’t stop at recognition; the best way to grow a business is for these owners to be educated on best practices and that’s the NAWBO mission.
