Momento Latino And Yelp Partners To Support Latinx-Owned Businesses

Latinx business owners have one more reason to celebrate this Hispanic Heritage Month! Yelp, the public company that publishes crowd-sourced reviews about businesses, is partnering with Momento Latino, an organization dedicated to serving the needs and concerns of the Latinx community, to launch a new feature to identify companies that are Latinx-owned.

The “Latinx-owned Business” attribute on Yelp is available to all Latinx business owners and can be added using the Yelp for Business dashboard. According to the company, the new feature is entirely free, and the decision to self-identify as Latinx-owned is exclusive to the business.

"We are thrilled to be partnering with Yelp to support Latino-owned businesses," said Henry R. Muñoz III, founder of Momento Latino. "Latinos are entrepreneurs and the fastest-growing segment of small businesses in every state and every market sector in America, contributing over two trillion dollars annually to our nation’s economy. During COVID 19, Latino business owners were disproportionately left out of the economic stimulus effort, and have been struggling to keep their heads above water, despite the critical role their businesses play in communities across our country. There has never been a more important time to recognize their contributions, and with Yelp's partnership, we're excited to lift up their work, and support their success as part of Latinx Heritage Month."

According to a recent Stanford research report, the Latinx community has opened more small businesses than any other demographic in the U.S., and now thanks to the efforts of Momento Latino and Yelp is going to be easier to find and support these small businesses in their local communities.

“U.S. Latinos are the world’s seventh-largest economy. We’ve started 86% of new U.S. businesses during the last decade, and created nearly 3 million American jobs,” said activist Eva Longoria Bastón. “This partnership with Yelp will educate communities about the vital role that Latinx-owned businesses play in every American city. And, we’ll generate revenue for Latinx-owned businesses and support local economies during and beyond Latinx Heritage Month. We’re grateful to our Momento Latino coalition partners – like Support Latino Business, JUST, Latinx Startups, and many more – who make programs like this possible by supporting Latinx entrepreneurs year-round.”

Now it is more crucial than ever to support our local businesses and even Latinx street vendors. The COVID-19 pandemic has disproportionately impacted business owners of color, and unfortunately, Latinx entrepreneurs figures among the hardest hit. Another study from the CNBC found that 86% of Latinx small business owners reported how the pandemic affected their business. Two-thirds also revealed that they wouldn't be able to continue operating.