Hispanic owned businesses just may be the fastest growing segment of the new businesses market in the United States. New government statistics show that businesses owned by Hispanics have grown at a rate that is three times the national average in recent years.

Hispanic owned businesses startup costs represent the greatest single challenge facing Hispanics who seek to establish their own business. Private financial institutions along with government-backed agencies recognize the distinctive contributions Hispanic owned businesses provide to the United States economy. That's why most of them offer special programs to get new and existing Hispanic business owners the capital they needs. A good first step towards starting your Hispanic owned business is to consider the available options:

1. Seek financial assistance in the form of loans and grants to start a Hispanic owned business.

2. Take advantage of essential Hispanic owned businesses advice that is widely available on the Internet.

3. Find Hispanic owned businesses marketing experts to show you how to effectively advertise your goods and services.

Action Steps
The best contacts and resources to help you get it done

Contact agencies that help with the startup and maintenance costs for Hispanic owned businesses

Whether you're just starting out, purchasing advanced technology or expanding your operations, business loans from accredited agencies can help you solve your financial issues.

I recommend: The U.S. Small Business Administration provides financial assistance to start up a Hispanic owned business or to further assist an existing one. Contact the Minority Business Development Agency to learn more about the loans and grants it provides specifically to Hispanic owned businesses.

Get free Hispanic owned businesses advice from market professionals

Read current market research reports that provide you with Hispanic owned businesses information on topics ranging from advertising essentials to international marketing schemes.

I recommend: The online community HispanicSMB.com maintains a comprehensive library of business reports on the subjects of marketing, legal issues, financing and credit that you can access free on its website. Hispanic Business specializes in providing a variety of business services, such as recruitment and advertising. Its online archive of business reports range from tracking the current face of the Hispanic business world in transition to media market projections.

Seek professional marketing advice to help Hispanic owned businesses flourish

Let marketing experts assist you in making the most out of any advertising campaign and in getting the right message about your business to the public.

I recommend: Terman Consulting Group, based in San Diego, California, has a team of marketing experts who can provide tips on advertising and marketing your goods and services. The highly trained staff at Allied Media are experts in multicultural communication. They will help you determine your advertising needs and equip you with strategies to reach your target audience.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Build relationships and network with other Hispanic business owners by joining an online Hispanic owned businesses directory.