Hispanic Businesses Profit With Mobile Technology [REPORT]

A new report released, “Hispanic Business Growth and the Mobile Future” details how mobile connectivity is fueling the thriving and dynamic Hispanic small business community. The report points to mobile technology’s fundamental role in the management, productivity and growth of Hispanic-owned firms. Hispanic entrepreneurs own more than 3.2 million businesses that together contributed over $468 billion to the American economy last year.

The survey, conducted by Social Lens Research for Mobile Future in partnership with the United States Hispanic Chamber of Commerce (USHCC) and Latinos in Tech Innovation and Social Media (LATISM), surveyed more than 500 Hispanic small business owners in the first quarter of 2014. The results of the survey reveal that 62% of Hispanic business owners credit growth to mobile technology and 83% say mobile technology has increased productivity.   
Key findings:

• Business Growth: 62% of Hispanic business owners credited at least 5% of business growth to mobile technology.
• Benefits: 90% of respondents reported seeing benefits as a result of mobile adoption, with 70% offering better customer service, 61% reporting increased productivity and 41% citing new client acquisition.  
• Productivity: 83% report saving at least one hour per day using mobile technologies.  
• Reliance on Mobile: 94% said a day without mobile would negatively impact their business and nearly 53% said it would be a “major disruption” or “utter catastrophe.”
• Mobile Tools: 67% report that the use of mobile technology enables them to respond to clients in a more timely way, 37% have created a mobile-friendly website and 31% use mobile payments.
• More Mobile Training: Many respondents are looking for training and tools to help maximize the benefits of mobile technology: Priorities— 53% want training on mobile marketing opportunities, 43% more business apps, 36% learn how to code mobile apps, and 35% bilingual mobile apps.

“Hispanics are early adopters of mobile technologies, so it is no surprise that Hispanic entrepreneurs are embracing wireless services to grow and manage their enterprises,” said Javier Palomarez, USHCC President & CEO. “It is particularly encouraging that mobile connectivity is translating into business growth and increased revenues for Hispanic firms.”

Hispanic businesses embrace mobile technologies to enhance customer service, maximize sales, and streamline payment. Additional mobile training and marketing could lead to continued growth.

“The survey highlights great progress by Hispanics, who aren’t just mobile consumers, but successful entrepreneurs making money using mobile tools,” said Ana Roca-Castro, LATISM Founder.

Mobile technology is connecting Hispanic small business owners to untold opportunities.

“Wireless technologies are transforming entrepreneurship throughout the business community,” said Mobile Future Chair Jonathan Spalter. “Continued investment in rapidly evolving mobile technologies is critical to ensuring growth, productivity and innovation as businesses compete in today’s digital marketplace.”  

 


 
 

 

Skip to content