Out of the total number of Latino-owned businesses in the U.S., just under two percent gross more than $1 million dollars in annual revenue. This figure is about 60 percent lower than businesses not owned by Latinos.

The issues surrounding observations such as this will be discussed at next week’s symposium, the State of Hispanic Business, a program of the Greater Philadelphia Hispanic Chamber of Commerce (GPHCC). The symposium is designed to inform Philadelphia’s business community about the current climate for Latino-owned businesses in the Philadelphia region.

This morning, GPHCC announced the participants in the event’s panel discussion, which will be moderated by Michael Rivera of the Fox School of Business at Temple University. Panelists include:

• Curtis Gregory, Senior Director for the City of Philadelphia

• Carolín Jiménez, Assistant Vice President of Microlending for Finanta

• Jimmy Duran, Director of Programs for GPHCC

• Miguel Toro, co-owner of El Balconcito and owner of Vista Peru

• Miguel Peralta of Corner Food Market I & II

• Nestor Torres, owner of Casa Papel

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• Yazmin Auli, co-owenr El Coquí Panadería

The symposium will be held on Tuesday, Nov. 7 at the Federal Reserve Bank of Philadelphia, 10 Independence Mall, from 8:30 a.m. to 11 a.m. Tickets are $30 for GPHCC members, $55 for non-members.

While providing a statistical overview of the state of Hispanic-owned business, the chamber will also identify trends in various industries, as well as potential opportunities for business growth. These findings will be provided in a full report, which will be released by the chamber in March 2018.

Stakeholders involved in the economic development of the Philadelphia area’s Latino community will be able to use these observations to make informed investments and develop solutions for issues facing Hispanic entrepreneurs.

"Hispanic businesses are the fastest growing segment of the American economy and there are more than 18,000 Hispanic-owned businesses in the region,” said Jennifer Rodriguez, President and CEO of GPHCC. “It’s important to explore not only the achievements and the impact of Hispanics in the local and regional economy, but to also take a deeper look at the gaps and how we should be moving forward into resolving them."

The symposium comes during an exciting time for Latino-owned businesses in the region — the U.S. Hispanic Chamber of Commerce recently announced plans to hold the organization's National Convention in Philadelphia in 2018. The conference is the largest networking venue for Hispanic-owned businesses in the U.S.