UPS understands that minority-owned small businesses have been disproportionately affected by the pandemic and this is a particularly difficult challenge for Latino owners. According to the Stanford Latino Entrepreneurship initiative, Latino-owned businesses were hit the hardest and will recover more slowly from the pandemic. Businesses face challenges due to lower initial capital, less access to federal aid funds, decreased revenue, and supply chain disruptions - the Latino community continues to be vulnerable in this volatile business environment. At no time has working together been more important to us: Building equity for Latino businesses is critical to the overall health of the United States economy.
UPS launched Proudly Unstoppablei to amplify minority small business owners and the needs of their communities. UPS is proud to partner with the United States Hispanic Chamber of Commerce to invest in keeping Latino-owned small businesses moving forward. Through this partnership, 27 grants were distributed to struggling small businesses.
The show also featured Latino-owned small businesses in a limited-edition UPS Express box, custom designed by Mexican artist Luis Pinto. The artwork was titled 'Challenges are our fire' and reflected the creativity and resilience of Latino small business owners. UPS recognizes that what makes the history and identity of Latin America great is the sum of its little stories of effort, resilience and community and wanted to reflect that spirit in the artwork.
The Latino small business community is unstoppable. For a Hispanic owner in the United States, the operation of the store cannot be understood without the sum and harmony of all the elements that make it what it is: the vision, empathy and determination of its owners, the effort, vitality and warmth of all and each of its team members, the empathy, teamwork and professionalism of its suppliers, messengers and logistics operators, and the confidence and reinforced satisfaction of its customers.
Latino owned and operated businesses are projected to continue to be competitive, digitized, and progressive - a productive ecosystem that in the United States equates to 4% of the profits of all U.S. businesses and generates 5.5% of the nation's jobs. We all have the power to support and contribute to its success that is so vital to our communities. These small businesses inspire us every day to remain unique, big, and resilient. But above all, unstoppable.