Target: Marc Lowell Andreessen, Co-Founder of AH Capital Management, LLC
Goal: Invest in Latinx-owned businesses that could boost and empower American economy.
Early fall pays tribute to one of the fastest-growing populations in America. The number of Hispanic or Latinx individuals in the United States stands at over 60 million. And, despite assumptions to the contrary, over four in five Hispanics within the country are American citizens. Hispanic entrepreneurs have experienced similar rapid growth. An estimated five million Latinx-owned businesses are thriving in the U.S., contributing 800 billion dollars to the economy. And these entrepreneurs have expressed confidence in their ability to expand their businesses and hire more workers. But in spite of the many benefits that Latinx-owned businesses provide in boosting the American economy, entrepreneurs still face many roadblocks to realizing their full potential.
In addition to a lack of networking opportunities, Hispanic entrepreneurs often find it difficult to secure funding. A majority of these business owners must tap into their personal savings because rates of loan approval from banks are far fewer than for white-owned businesses. Venture capital investments are even less frequent.
Sign the petition below to urge one of the nation’s leading investment firms to invest in the future of small business.
PETITION LETTER:
Dear Mr. Andreessen,
Hispanic Heritage Month celebrates the contributions of Latinx Americans to this nation’s past, present, and future. Some of the most under-appreciated contributions come from the five million-and-growing Latinx-owned businesses that have pumped close to a trillion dollars into the U.S. economy. But despite these contributions, Hispanic entrepreneurs still face discrimination in securing necessary funding. A majority of entrepreneurs are largely funding their own endeavors.
Imagine the immense potential that could be realized if these businesses had access to the support and investment that could take them to the next level. Your firm could lead the way in realizing this potential and in uplifting America’s fastest-growing population sector. Venture capital is all about vision and taking risk to reap great rewards. Please initiate action plans and funding programs that will help Latinx and other minority-owned businesses pioneer a new business revolution.
Sincerely,
[Your Name Here]
Photo Credit: Cytonn
Supporting Hispanic businesses makes good socio-economic sense especially since Hispanic people comprise the second largest segment of the U.S. population.