Latino-owned businesses in Arizona are growing at twice the rate of the state’s overall economy. They now represent the fastest-growing segment in the state. These businesses are growing at a rate of more than 6.5%, or twice the pace of the state’s overall business growth.

During Hispanic Heritage Month, a national campaign worked to further boost Latino businesses. Organizers asked Americans to each commit to spending $30 at Latino-owned businesses during the 31-day commemoration. The spending goal was intentionally kept low so more people can participate.

“We know there are many American households that are also hurting financially, and we wanted to make sure that this was something that was accessible across the board,” said Sindy Benavides, executive director of Aquí: The Accountability Movement.

To better understand the business challenges faced by Latino immigrants, researchers at the University of Arkansas interviewed 200 different business owners. They found some barriers to success include understanding regulations and taxes, insufficient startup capital and getting licenses and permits.

Nationally, the Latino gross domestic product is $4 trillion.

Benavides explained the campaign took on greater urgency because enhanced immigration enforcement has hurt local businesses. She added if just 10% of U.S. households participate, the campaign could generate $400 million for Latino-run businesses.

“When we’re talking about the larger picture, this is impacting everyone,” Benavides stressed. “So, buying Latino really is building America.”

Aquí: The Accountability Movement began early last year to reshape narratives about Latinos, increase representation and hold public and private institutions accountable.

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Arizona’s Latino businesses growing twice as fast as state economy was first published by Public News Service and is republished with permission.

Mark Moran is a Producer with PNS.