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Orlando named best city for Hispanic entrepreneurs
Hispanic Heritage Month is celebrated from Sept. 15 to Oct. 15. A recent WalletHub study revealed that three of the top cities for Hispanic entrepreneurs are all in Florida; Orlando took the #1 spot.
ORLANDO - Hispanic Heritage Month runs Sept. 15 to Oct. 15. Florida has the third-largest Hispanic population in the U.S. According to a new study by WalletHub, Florida is the best state for Hispanic entrepreneurs – with 7 cities ranked in the top 10.
WalletHub Rankings
#10: South Burlington, Vermont
#9: Albuguerque, New Mexico
#8: Port St. Lucie, Florida
#7: Hialeah, Florida
#6: Cape Coral, Florida
#5: Miami, Florida
#4: Dover, Delaware
#3: Fort Lauderdale, Florida
#2: Pembroke Pines, Florida
#1: Orlando, Florida
WalletHub: Orlando is #1 spot for Hispanic entrepreneurs in the United States
What they're saying:
According to WalletHub, Orlando stands out because it has a Hispanic Chamber of Commerce, has high Hispanic-owned businesses, and its Hispanic population is growing.
"Orlando, FL, is the best city for Hispanic entrepreneurs, and one way it stands out is by having a Hispanic Chamber of Commerce, which helps to provide funding and support for Hispanic-owned businesses. Over 19% of businesses in Orlando are owned by Hispanic residents, the 10th-highest percentage out of the more than 180 cities in our study," WalletHub wrote in its study.
"Orlando leads the country when it comes to the share of residents who engage in entrepreneurship. Among Hispanic people in particular, the city has the 7th-highest entrepreneurship rate, too. It also has the 15th-lowest corporate taxes."
WalletHub said Orlando's Hispanic population has grown by nearly 30% over the last 5 years.
Celebrating Hispanic Heritage: Mecatos Bakery and Cafe
Mecatos Bakery and Cafe specializes in Columbian pastries, baked goods, and fried foods. It opened in 2016, survived the COVID-19 pandemic, and in fact, instead of closing locations, has opened more and expanded.
Currently, there are nine locations in Central Florida. Franchise opportunities are also available.
Owner Edin Lurduy has lived, worked, and gone to school in Orlando since moving here in 2001. Owning a bakery wasn't his goal at first, but he has found success, and has enjoyed sharing his culture and food with so many.
"Everyone will find their favorite dessert at Mecato's," he said.
How do you describe success?
"I think the keys to the success have been planning, execution, and most importantly, the team," he said.
"But the community that we operate in is also key," he said, adding that, "if I have an opportunity to thank the community, thank Central Florida, because they are a big part of where we are today."
Hispanic Chamber of Commerce
Edwin said the Hispanic Chamber of Metro Orlando has also been instrumental to his success.
"Their support has been above and beyond what a typical chamber does," he said.
"This recognition shows that Central Florida has created the right environment, provided the right resources, and supports small businesses to thrive," said President and CEO Pedro Turushina.
According to the study, 19% of businesses in Orlando are owned by Hispanic residents.
Pedro said the Chamber works to help more than 2,600 active members find ways to connect, learn, and succeed.
"When our businesses succeed, our entire community prospers," he said.
What does it take to be successful?
"My advice is to don't be afraid to ask for help," said Pedro.
"Plan, educate yourself, research it," said Lurduy. "If think you have something good, go for it."