Multigenerational hispanic-owned businesses face challenges [Video]

Factor in if you are a minority and your chances for success drop even further. “Hispanic small businesses attempt to start 6X more often than any other ethnicity,” added Fierova.

And if you try to maintain a family-owned business, or legacy business, things get even trickier according to the local expert. “It’s not as common as you’d like. There is a growing trend for family-owned businesses to have trouble finding the next successor. And so, we’re working with businesses to have a succession plan.”

There are plenty of success stories here in the Coastal Bend. Banuelos t=Tires is going on three generations. Snow Ball is on its second generation. And even tortilla companies like Marroquin Restaurant and Tortilla Factory are prospering, finding their place against big box grocery stores and other …