Driving Business Success through the Pandemic Blog Popular Bank

04.28.2021 /

Driving Business Success through the Pandemic

Popular Bank announces partnership with Latin Business Today to share important insights to help small businesses and entrepreneurs.

Popular Bank and Latin Business Today have formally announced the launch of Driving Business Success through the Pandemic. The nine-part series will discuss topics and challenges facing Latinx small businesses amid the COVID-19 health crisis. The initiative, which first launched in summer 2020, aims to help millions of small business owners and entrepreneurs nationally.

As part of this partnership, Popular Bank Chief Operating Officer Manuel Chinea and Latin Business Today advisory board member Eli Mendoza, have teamed up to share their unique industry insights as small businesses work to scale economic disruption, uncertainty and recovery.

Driving Business Success through the Pandemic comes at a critical time for small businesses.  

According to a 2020 Stanford Latino Entrepreneurship Initiative survey, 86% of Latino small business owners experienced a serious and negative impact on their businesses by the pandemic. Similarly, two-thirds said they would not be able to continue operating beyond six months if current conditions continue. Because of these challenges, many small business owners are continuing to explore new financial relief tools amid changing community guidelines.

“Latinx-owned businesses had been growing at an accelerated rate prior to the pandemic. We want to do everything we can to provide guidance and resources, especially during this very difficult time, so they can continue to build on their success,” said Chinea. “It is critical to adopt and evolve sustainable business practices that can prepare businesses to quickly adapt to unforeseen changes in the environment. The initiative does just that, focusing on key areas such as financing, strategic planning, among others.”

Previous discussion included emergency funding and liquidity, small business agility and navigating success amid disruption. Upcoming discussions will closely follow the real-time experience of small business owners as they plan for more normal activity.

See our official announcement here.

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