The Impact of COVID-19 on Latino-Owned Businesses

On March 11, 2020, the World Health Organization declared COVID-19 a pandemic. Two weeks later, the Stanford Latino Entrepreneurship Initiative administered a survey to 224 mostly scaled ($1 million+ revenue) Latino-owned businesses in the United States to understand the immediate and potential long-term business impacts of the pandemic. Our survey captures the sentiment of Latino business owners in perhaps their most uncertain period of the pandemic, as shelter-in-place ordinances were becoming widespread and before Congress responded with the Paycheck Protection Program. SLEI will follow up with the same businesses in the upcoming weeks to report on any new and unforeseen challenges or opportunities.