The Mexican American in the Business World
Richard Goodman discusses some of the particular issues affecting Mexican American Businessmen. He explains that Mexican Americans face special challenges as they seek to enter the business world, including little experience and the lack of capital. He says that while cities with large Mexican populations, like San Antonio, can be ideal for Mexican American business, they are the exceptions. Moreover, Goodman says that Mexican Americans are often naive about business practices and must rely on trial and error, which in the business world often leads to failure.
Goodman says one of the largest problems affecting the Mexican American businessmen is the lack of sound bookkeeping practices. Without financial records, they cannot qualify for loans or accurately determine their taxes.
Some businesses have found success using family labor and locating themselves within the barrio, where property rates are lower and where customers may be more loyal. Goodman explains that ethnic banks were expected to help Mexican American businessmen, but they like other banks require collateral, which many Mexican American businessmen lack, to extend loans. Consequently, they have not been able to help as much as hoped. Although, they do offer much need guidance and advice for new business owners.
KEYWORDS
BarrioBusiness
Businessmen
Ethnic Banks
Ethnic Consumers
Ethnic Enclaves
Latino Market
Loans
Mexican Businessmen
San Antonio
Second generation