Hispanic- and Latino-owned businesses in the U.S. have been hit hard by the pandemic with slower sales, staff cuts and closures. According to the Stanford Latino Entrepreneurship Initiative, 86% of Latino-owned businesses surveyed reported immediate negative effects of COVID-19 in the early months of the pandemic. Nearly two-thirds said they would not be able to sustain operations for more than six months.
UPS is committed to making sure Hispanic- and Latino-owned businesses thrive by offering business solutions that help overcome changing conditions.
From brick and mortar to digital
Premium Imports, a handmade, premium cigar manufacturer based in Coral Gables, Florida, felt the impact like many other traditional brick and mortar businesses, having to shut down for months. UPS helped Premium Imports shift its business to e-commerce by implementing UPS Digital Connections, a program that connects businesses with a wide range of industry-leading technology partners with discounted pricing on digital solutions.
Digital Connections also helps customers get monetary support to help them buy technology solutions for their businesses to remain innovative and generate revenue.
For Premium Imports, UPS implemented its Quantum View Manage system to follow their inbound, outbound, third party or imports shipments.
A guide to growth
In addition to logistics services, UPS supports businesses with market intelligence and guidance. Creative Covers, a woman- and Hispanic-owned small business specializing in designing and manufacturing custom covers, began when owner Brigit Calderon stitched a peace sign on a vinyl cover for the spare tire of her Jeep Wrangler in 1998.
As the company develops strategies to increase its market share, UPS has provided guidance on how to engage customers including using Listrak, a business solution that helps drive revenue growth.
Technology and digital support are key
According to the Aspen Institute Latinos and Society (AILAS), an organization working to increase Latino access to opportunity and economic advancement, providing technology and digital support are key factors in helping Hispanic- and Latino-owned businesses survive the pandemic and prosper beyond it.
“Latino-owned businesses are a growing sector of the economy and contribute significantly to its overall strength. If they continue to struggle, it’ll have a negative impact on the overall economy. So we’re providing services to support their needs,” said Mark Senchak Jr., UPS business development account executive.
Transitioning to an online marketplace
UPS helped Bueno Foods embrace technology as it worked to keep up with the changing needs of its customers. For the past 30 years, UPS has been a partner of Bueno Foods, a small Albuquerque-based preeminent manufacturer of New Mexican and Mexican cuisine.
As Bueno Foods transitioned to the online marketplace, UPS shared the Online Shopper Survey with the food company to help its owners learn what customers look for in an online shopping cart.
Future of potential
With Hispanic and Latinos representing a large and growing percentage of both the U.S. workforce and the country’s business owners, they are poised to be a major contributor to rebuilding the country’s economy.