January 15, 2015 at 12:30pm

Examining Hispanic-Latino Entrepreneurship

Mark Munoz
The Hispanic-Latino community has expanded into an important contributor to the U.S. economy with over 2.3 million businesses in the United States categorized as Hispanic-owned. These businesses are producing over $345 billion in sales. What factors are contributing to this entrepreneurial success?
 
In his recently published book, "Hispanic-Latino Entrepreneurship: Viewpoints of Practitioners," Dr. J. Mark Munoz, Millikin University professor of international business, examines the entrepreneurial mindset of Hispanic-Latinos in the United States. The book was co-authored by Dr. Michelle Ingram Spain, professor at the DeVille School of Business at Walsh University in North Canton, Ohio, and published by Business Expert Press.
 
"The book is meaningful since it helps advance the understanding of Hispanic-Latino entrepreneurship," said Dr. Munoz. "Hispanic-Latinos number about 50 million, and constitute about 16 percent of the U.S. population. In addition to examining the entrepreneurial mindset of Hispanic-Latino entrepreneurs, the book discusses their entrepreneurial intent, goals and business strategies."
 
The authors captured the viewpoints of real-life Hispanic-Latino entrepreneurs by using a 15-item questionnaire to obtain information on how they utilized their business strategies. The book also highlights challenges relating to entrepreneurial pursuits, and the importance of hard work, discipline, and a positive mindset in the success of an enterprise.
 
"This was not an easy book project," said Dr. Munoz. "I had to interview over 20 Hispanic-Latino entrepreneurs throughout the country. Several Millikin students supported the project and assisted me in finding entrepreneurs."
 
Millikin alumna Jamie Rockhold '14 worked as an undergraduate research fellow and assisted Dr. Munoz during the research process. Rockhold presented some of the research findings in April 2014 during Millikin's annual Celebrations of Scholarship. Rockhold also contributed to the writing of the manuscript and analysis.
 
"Being able to work with Dr. Munoz on the entrepreneurship project was a great learning experience," said Rockhold. "With the guidance of Dr. Munoz, I became immersed in the research process of writing a book and the steps to take in order to finalize and publish the material. While I learned a great deal from being a part of the process, I learned even more from the entrepreneurs."
 
In terms of importance, Dr. Munoz sees the book playing a major role in both the academic and business sectors. Readers will find value in the insights of the entrepreneurs on topics such as education, training, and networking.
 
"In my view, as more Hispanic-Latino businesses are created in the U.S., this field of study will grow in importance," said Dr. Munoz. "Aside from the academic community, the book will be useful to entrepreneurs worldwide, government organizations, and policy makers."
 
Jamie Rockhold added, "It was interesting to discover similar characteristics among the entrepreneurs from a wide range of industries and backgrounds. When speaking with them, I became motivated in my career goals because despite all of the obstacles and hardships, the entrepreneurs continued to pursue their dreams and reach their current level of success."
 
Dr. Munoz is a recipient of several awards, including three Best Research Paper Awards, Teaching Excellence Awards, and a literary award. In 2013, he received a teaching excellence award from the Accreditation Council for Business Schools and Programs (ACBSP). In 2014, he received Millikin University's Teaching Excellence and Campus Leadership Award and was admitted as Fellow to the Royal Geographical Society.