Slumping US Economy Given Boost by Hispanic-owned Businesses

While financial experts project an economic downturn in every sector for 2023,(1) nearly 5 million Hispanic-owned businesses are contributing more than $800 billion to the US economy annually.(2) A 2021 report by Latino Donor Collaborative calculated the total economic output (gross domestic product, or GDP) of Latinos in the United States at $2.7 trillion in 2019. This is up from $2.6 trillion in 2018, $2.1 trillion in 2015, and $1.7 trillion in 2010.(3) This positive impact comes at the same time as the recent migration of hundreds of thousands of Latinos from Puerto Rico to Central Florida, which has been one of the most important demographic developments since the 1960s, reshaping the contours of life in the region.(4) Valor Capital’s Moises Agami, himself a native of Mexico City, applied his business acuity to his real estate development company in Clearwater, FL. “As Latino business owners, we’re not just opening more businesses ─ we’re also hiring and growing a lot more than the average business,” points out Agami. This echoes the Small Business Administration’s research that Latinos are hiring; 55% compared to 8% in the balance of the economy.(2)

Moises Agami is honored to have been chosen Mr. January 2023 and featured on the cover of TBBW magazine. He will be presented as a panelist at the Tampa Bay Business and Wealth Hispanic Business Summit, expressing positive growth and encouragement to Hispanic business owners with his knowledge and recommendations. His advice to participants, some of whom asked whether they should engage a mentor who is also of Hispanic roots: "If you want to do business here, learn the language, learn the customs, invest in yourself, find out what you can do to get more acquainted … Whatever you're doing in life, you need to strive to be an absolute professional. The way to do it is not to try to reinvent everything from zero. Find who is the best in your industry or your town and learn from that person. Say, 'I have some questions for you. I'm starting this business.' You'd be surprised how many times you're going to get invaluable information," said Agami.

With Serena by the Sea, Valor Capital’s current affluent, eco-friendly, and wellness-living project, under construction but completely sold out, Agami expects his 2022 revenues of $70 million to more than double in 2023 to $150 million. A soon-to-be-announced project in downtown St. Petersburg will be the new focus and real estate development venture. “These successes grow the economy and encourage additional Hispanic-owned business ventures while adding to the richness of the community. This is true in Florida – and the rest of the country,” points out Agami.

Agami encourages Hispanic businesses to take advantage of every resource in growing their businesses and to seek out incubators and institutions that help entrepreneurs and business leaders learn how to put steps into motion. As Agami phrases it, “We shine a light on the cultural and language differences that add to the fabric of business, making it stronger.”

Moises Agami goes on to say, “The impact of the Hispanic business community is more than a stamp of economic growth; when viewed through the larger lenses, it is indeed an important component of both the US and local economies.”

About Valor Capital
Valor Capital is a team of entrepreneurs passionate about creating world-class real estate experiences. They are an affiliate: a new venture spinoff of international development firm, Terra Capital Partners SA de CV (Terra Capital Partners). With a four-decade history of real estate developments in office, hospitality, medical, commercial and luxury residential product offerings — and a multi-billion-dollar portfolio and tens of millions of square feet already developed and sold — Valor’s developments are always on the cutting edge, with proprietary antiviral engineering design used throughout the firm’s newest developments. Visit www.valorc.com

Marr, Bernard. “The 7 Biggest Business Challenges Every Company Is Facing In 2023”, Forbes, 15 November 2022, forbes.com/sites/bernardmarr/2022/11/15/the-7-biggest-business-challenges-every-company-is-facing-in-2023/?sh=613852d45688.
Staff Writer. “Economic Impact – Spanish Heritage Month”, US Small Business Administration, 2022, sba.gov/about-sba/organization/observances/hispanic-heritage-month#:~:text=Economic%20impact&text=Nearly%20one%20in%20four%20new,to%20the%20American%20economy%20annually.
California Lutheran University. (n.d.). Retrieved January 27, 2023, from blogs.callutheran.edu/cerf/files/2022/05/2021_LDC-USLatinoGDP_final.pdf
Staff Writer. “Latinos in Central Florida: The Growing Hispanic Presence in the Sunshine State”, The Hispanic Federation, 2022, hispanicfederation.org/advocacy/reports/latinos_in_central_florida_the_growing_hispanic_presence_in_the_sunshine_state/.


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