Skip to main content
  • Claims Center
  • Contact Us
  • Español
  • Brokers & Agents
Hiscox Insurance
Menu Toggle
  • Home
  • Small Business Insurance Toggle Menu Toggle Menu
  • Why Hiscox Toggle Menu Toggle Menu
  • Resources Toggle Menu Toggle Menu
  • Policy Management Toggle Menu Toggle Menu
  • Claims Center
  • Contact Us
  • Español
  • Brokers & Agents
  • About
  • Get a Quote Get a Quote
  • About
  • Get a Quote Get a Quote
  • Blog Home
    Start Your Business
    Grow Your Business
    Protect Your Business
    Celebrate Courage
    Search

    Twenty-Four Seven

    Sign up to get the latest small business news delivered right to your inbox.
    Celebrate Courage
    September 26, 2014
    National Hispanic Heritage Month - Hiscox celebrates Hispanic and Latino entrepreneurs

    National Hispanic Heritage Month: Hiscox celebrates Hispanic and Latino entrepreneurs

    Customer stories | At Hiscox
    By: Hiscox Blog

    Share Image

    Embed Image

    Copy

    Share Article:

    Hiscox recognizes Hispanic and Latino business owners and entrepreneurs in honor of National Hispanic Heritage Month.

    First started in 1968, and legally-recognized as a national celebration since 1988, Hispanic Heritage Month celebrates Hispanic and Latino heritage from September 15 to October 15 each year.  The month recognizes the contributions that these cultures and individuals make to the United States, both culturally and economically.  And there’s no underestimating the economic contributions, especially when small business ownership is concerned.

    There are 3.2 million Hispanic-owned businesses in the United States, which a new study from consultancy Geoscape estimates will generate $468 billion in revenue this year.  Other recent research shows that immigrants are 27% more likely to start a business than native-born Americans, and U.S. Census data reports that Hispanic entrepreneurs opened twice as many businesses as the national average in the 2000s.

    To celebrate Hispanic Heritage Month and the tremendous positive impact Hispanic entrepreneurs are having on the American economy we’ll be spotlighting Hispanic business owners through October 15.

    Below is a round up of Hispanic and Latino entrepreneurs who have left an impact in the small business and entrepreneur fields. Each of these individuals started life outside of the U.S. before bringing their passion and dedication stateside to build the business of their dreams – businesses that are the embodiment of the American Dream.  We hope you’ll check them out and use the comments to let us know what you think, or suggest another Hispanic entrepreneur to profile.

    Marc Barros, CEO, Contour
    $15.1 million in annual revenue Marc Barros’ father moved to Seattle from Brazil when he was 25 to start a new life.  Barros, who launched Contour, a company that manufactures video cameras, while he was still an undergraduate in college, says that his father’s story has largely influenced his own approach to business.  “His lessons in life have guided my own decisions, my way of approaching problems, and my openness to new cultures, languages, and ways of thinking,” he says.

    Alex Charfen, CEO, Charfen Institute
    $9.9 million in annual revenue Alex Charfen grew up in Mexico City and moved to the United States when he was five.  In 2008, after investing in Florida real estate for about a decade, the housing market crumbled and Charfen and his wife went bankrupt.  “It was one of the most formative experiences of my life,” he says. But Charfen would not give up. He relocated his family to Austin, and founded Charfen Institute, a firm that helps distressed homeowners find solutions to foreclosure issues.

    Yolanda Schon, Franchise owner, Senior Helpers
    $500,000 in annual revenue
    The desire to keep her company at a manageable size is also important to Yolanda Schon, a Venezuelan immigrant who owns a Senior Helpers franchise in Miami. “I want to grow a little bit more, but I want to still keep control and have input on everybody we hire so I feel comfortable with that person,” says Schon, 56. She bought the business in 2008, using pension funds and a second mortgage on her home after she was laid off from a job in the building industry. Her close-knit family is supportive, but they also depend on her financially, which makes her “a little bit more fearful about taking more risk” in expanding the business, which employs 25.

    Carmen Castillo, Founder & CEO, SDI International
    $1.3 billion in annual revenue
    Carmen Castillo is the American Dream incarnate. She is the embodiment of all the qualities that people in the world of business marvel about. When we say 40% of America’s largest businesses were started by an immigrant or the child of an immigrant, we’re talking about Carmen. Ms. Castillo is a Spanish immigrant who left her native home, the island of Mallorca, and made it to America in order to do just that: make it in America. 20 years later, thanks to an immeasurable degree of hard work and steely resolve, Ms. Castillo is now the first Hispanic woman to become the Founder and CEO of a $1.3 billion U.S. company. In addition to championing minority-owned businesses through her work at SDI International, Carmen also serves on a panel at the United Nations, engaging in real-world discussions regarding the challenges and opportunities that exist for business diversity across the globe.


    Protect Your Business

    Protect the business you’ve worked so hard to build. Get a fast, free quote and your business could be covered today.

    Get a Quote
    Get a Quote
    Subscribe to our newsletter

    Related Articles

    5 Min Read
    Spotlighting Hiscox photographer customers, Kdmorris, Sydney Sherman, and Paramount Memories - William and Jennifer Chavis

    Exposed: photographers who developed their love for photos into a profession

    Customer stories | Small business inspiration

    We spotlight the creativity and drive that inspires photographers, and share the stories of these Hiscox customers who developed their passion into a profession.

    Read More

    5 Min Read
    Hiscox USA Diversity Report, Parts 1 and 2

    Diversity can help your business in more ways than you might think

    Thought-leadership | Small business inspiration

    Increasing diversity in your small business is the right thing to do, but did you know it may help your business in other ways too? Here’s what we learned from a recent survey. 

    Read More

    5 Min Read
    women-who-made-business-dreams-reality

    Strong uplifting women who made their business dreams come true

    Small business inspiration | Customer stories

    Behind every entrepreneur is a dream that motivated them. Get inspired by these four strong women who turned their business dreams into reality. 

    Read More


    We’re here to help.
    We provide tailored insurance for the specific risks you face, so you can take the right risks to grow your business.
    Get a Quote
    Get a Quote

    Footer menu 1

    • What We Cover
      • Business Insurance
      • General Liability Insurance
      • Professional Liability Insurance
      • Errors and Omissions
      • Cyber Security Insurance
      • Workers Compensation
      • Other Coverage
    • Who We Cover
      • Small Business Owners
      • LLC
      • Sole Proprietors
      • Entrepreneurs
      • Side Hustle
      • Contractors
      • Home Businesses
    • For Our Customers
      • Refer a Friend Program
      • Covid-19 Response
      • Claims Center
    • For Business Owners
      • Save with our Partners
    • About Hiscox
      • About Us
      • Careers
      • Contact Us
      • Hiscox Corporate
      • Investors
      • Foundation
      • Newsroom
      • We Stand Together
      • Affiliate Partner Program

    Footer menu 2

    • Accessibility
    • Site Map
    • Privacy Policy
    • Terms of Use
    • Legal Notices
    • Español

    Feefo Reviews: Hiscox rated 4.7/5 with 1,067 reviews between January 1, 2022 - January 1, 2023

    * Any cost, premium, or coverage stated before an official customer quote are estimates and an approximation and are not guaranteed. Actual cost, premium, and coverage are subject to the unique considerations of each individual risk. Customer quotes are based on the information provided to Hiscox, and are subject to required underwriting and rating factors. Until an official customer quote is provided, all communication on this website or advertisement is provided as an example for informational purposes only, and is neither an offer nor a guarantee of available premium or coverage. Any coverage afforded by the products described are subject to and governed by the terms and conditions of each policy issued. This information may not be used to modify any policy that might be issued. Any information provided to assist in understanding the coverage we offer does not modify any insurance policy, nor does it imply that any claim is covered.

    © 2023 Hiscox Inc. All rights reserved. Underwritten by Hiscox Insurance Company Inc., 30 N. LaSalle St., Suite 1760, Chicago, IL 60602. As of December 31, 2021, HICI had admitted assets of $1,250,758,353 and policyholders surplus of $332,792,666. Total liabilities were $917,965,687 (inclusive of $433,752,764 of loss reserves) and paid-up capital stock was $4,242,000.

    icon-facebook
    icon-youtube
    icon-twitter
    icon-linkedin