When we think about the values that unite us as a Latino community, I’m willing to bet that 90% of us will say “hard work” is our top value. 

The importance of hard work as an indicator of success and social advancement is something we all experience in our own families. It could vary between cultures, but we are all chasing some version of our American Dream. 

I’ve worked in the financial services industry for over 30 years, and I never thought I would choose to become an entrepreneur. 

Recent data proves the Latino community has emerged as a vibrant and dynamic entrepreneurial force in the United States.

In 2023, a report from McKinsey & Co. unveiled a striking fact: Latinos were responsible for an impressive 36 percent of all new businesses launched across the country.

According to the Latino Community Foundation, by 2024, over 5 million Latino-owned businesses are projected to contribute an extraordinary $800 billion to the U.S. economy. This unprecedented growth is unparalleled.

To sustain and accelerate the flourishing of Latino enterprises, we must urgently prioritize investments in education and skill development, especially in the rapidly evolving realms of artificial intelligence and digital currency. We must dismantle barriers to essential access to capital, creating a robust and sustainable cycle of growth and opportunity that elevates not just the Latino community but society as a whole.

Given the current economic and political landscape, one must ponder: Is our commitment truly sufficient to harness this potential?

Despite our remarkable achievements, the Latino community continues to confront persistent challenges that hinder our progress. Immigration policies and aggressive enforcement actions have fostered an atmosphere of fear that envelops Latino neighborhoods — homes to countless vibrant Latino-owned businesses.

We face stark realities of wealth and income inequality that manifest as significant barriers, obstructing our access to vital resources and opportunities. These challenges are not insurmountable. Through innovative strategic initiatives, unwavering collective determination, and robust community solidarity, we can carve a powerful path toward overcoming these obstacles.

Now is the moment for Latinos to harness our economic strength — not through confrontation, but by fostering an atmosphere of progress, nurturing pathways for all, and laying the groundwork for a future that is both equitable and prosperous for ourselves and for the entire United States.

Recent adjustments in interest rates by the Federal Reserve have ushered in a powerful wave of opportunity for the Latino community, significantly reducing the burdens associated with mortgages, credit cards, and business loans. This shift not only alleviates financial strain but also fuels ambition.

As Latinos continue to rise as innovative and resourceful entrepreneurs, more affordable business loans are a beacon of hope, enabling us to break from financial limitations and reach unparalleled success.

My advice to President Trump’s economic advisors is to stop viewing our economy solely through the lens of demographics or immigration status. The American economy has been a success because immigrants and Latinos have played a vital role.

Policymakers, community leaders, financial institutions, and other influential stakeholders must recognize that our nation’s diversity is not just a characteristic but a profound strength, enhancing our social fabric and fostering economic growth. 

By uniting our efforts, we can pave the way toward a more inclusive and flourishing future for all, where every individual has the opportunity to realize their American Dream and contribute to the collective prosperity of our nation. 

Veronica Semler is a distinguished executive with over 30 years of proven leadership experience in the banking and financial sectors, having collaborated with both Fortune 100 companies and government agencies. She employs empathy as a powerful tool to drive transformative change, boldly challenging the status quo and reshaping how business is conducted.

The Wharton Online + Wall Street Prep Real Estate Investing & Analysis Certificate Program is an immersive 8-week experience that gives you the same training used inside the world’s leading real estate investment firms.

Use code SAVE300 at checkout to save $300 on tuition.

Program starts October 6.

Enroll Today

Chicago Protest: From Block Club Chicago, “Helicopters circled over a crowd of hundreds as people took to Downtown streets Wednesday night to protest the deployment of National Guard troops to the Chicago area.”

The Latino Newsletter welcomes opinion pieces in English and/or Spanish from community voices. Submission guidelines are here. The views expressed by outside opinion contributors do not necessarily reflect the editorial views of this outlet or its employees.