Recently, I had the privilege of attending the Boricua Entrepreneurship Fest in Ponce, Puerto Rico. The energy, enthusiasm, and diversity of the island’s entrepreneurial ecosystem were nothing short of inspiring. This vibrant community is actively fostering innovation, creating opportunities, and building stronger connections. My experience there underscored a powerful truth: when a community doubles down on supporting its entrepreneurs, the positive ripple effects are transformative.
As we approach Hispanic Heritage Month, it’s the perfect time to reflect on the benefits of prioritizing entrepreneurship in Philadelphia and to invite Latino entrepreneurs to take the next step in their journey.
Multiplier effect of entrepreneurship
Entrepreneurship is a catalyst for economic growth and community development. When entrepreneurs succeed, they create jobs, strengthen the local tax base, and drive innovation across industries. But the impact of entrepreneurship goes beyond economics—it transforms communities. Small businesses bring character to our neighborhoods, offering services, products, and experiences that reflect the diversity and richness of our city. Supporting entrepreneurship is more than an investment in businesses; it’s an investment in people, places, dreams, and ambitions.
This is especially important in Philadelphia. Our city is home to a growing number of Latino entrepreneurs eager to contribute to the local economy and build a legacy. However, many of these entrepreneurs face significant barriers, such as limited access to capital, networks, and mentorship. By focusing on entrepreneurship as a key driver of growth, we can help break down these barriers and unlock the full potential of our diverse communities.
Lessons from Puerto Rico: The power of an entrepreneurial ecosystem
The Boricua Entrepreneurship Fest was a vivid illustration of what’s possible when a community rallies around its entrepreneurs. The event brought together business owners, investors, mentors, and support organizations—all united in their commitment to driving entrepreneurship forward. The synergy was palpable, with everyone working together to create a nurturing environment where ideas can flourish, and businesses can thrive.
This experience was both inspiring and instructive. It reinforced the importance of building a comprehensive support system for entrepreneurs—one that includes not only access to financial resources but also mentorship, education, and opportunities to connect with peers. While Philadelphia’s entrepreneurial ecosystem has grown significantly in recent years, there is still more we can do to ensure that every entrepreneur has the tools they need to succeed.
Empowering Latino entrepreneurs in Philadelphia
At the Greater Philadelphia Hispanic Chamber of Commerce (GPHCC), we are committed to building on this momentum by providing targeted support for Latino entrepreneurs. Our programs address the unique challenges faced by Latino business owners and equip them with the skills, knowledge, and connections necessary for long-term success.
This fall, we’re launching new cohorts of our entrepreneurship education programs. *Camino al Éxito* is perfect for early-stage entrepreneurs who have started a business and are asking themselves, “What’s next?” *Accelerate Business* is ideal for established businesses ready to grow aggressively and seeking a strategic plan, expert guidance, and mentorship. Lastly, *Build Latino* is designed for emerging entrepreneurs in the construction industry who want to avoid the common pitfalls that often plague small businesses in this sector.
Seizing the moment: Why entrepreneurship matters now more than ever
Reflecting on my experience at the Boricua Entrepreneurship Fest, I am more convinced than ever that supporting entrepreneurship is key to Philadelphia’s future. When we invest in entrepreneurs, we invest in a more vibrant, resilient, and prosperous city. But this requires intentional effort—providing resources, building networks, and removing barriers. It requires us to recognize that entrepreneurship isn’t just about economic gain; it’s about empowering individuals to realize their potential and, in doing so, uplift entire communities.
To every entrepreneur reading this: now is the time to take your next step. Whether you’re just starting out or looking to scale your existing business, GPHCC’s entrepreneurship programs can provide the support you need to achieve your goals. Join us this fall and become part of a community that believes in your power to build a better future for all.
To learn more about our programs and how to apply, visit philahispanicchamber.org.
Jennifer Rodriguez is President and CEO of the Greater Philadelphia Hispanic Chamber of Commerce.
