BIPOC Founders Will Find A Way.

Publicado por Sandra Velasquez en

As the saying goes -- necessity is the mother of invention. 

People start businesses for different reasons. For some, starting a business is a great way to invest money they already have to make it grow. 

For me, starting a business was a way to change my life. It was do or die. I could either bet on myself and figure it out or stay exactly where I was -- a 43 year old single mom with credit card debt,  student loans, and no savings. I knew that nobody was going to come and save me. I was going to have to find a way. 

You often hear about brands raising start-up money from family and friends. But what if your family or friends have no money? This is how economic cycles perpetuate themselves -- we often only associate with people in our same economic bracket. People with money know other people with money. People without money often do not have access to people with money. 

The statistics for BIPOC founders securing venture capital or traditional bank loans are abysmal. Only 2% of VC funding went to Latinx founders last year. This is why love reading articles like this one that highlight BIPOC founders who are breaking barriers and accessing resources. 

I started in my house because it was the only way I could launch. I manufactured my own products because it was the only way I could afford to produce small quantities. I shipped my own orders because it was the only way I could get orders out. 

I did what I had to do to begin. And now that I am on this journey, I hope I can inspire others and provide resources for others to find a way too. 

chicanaownedbusiness entrepreneurship founderstory latinaownedbusiness mexicanamerican

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