Dec 3 • 2 min read
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Research by Fox MC students featured in report on Hispanic businesses and consumerism

Students from Temple University’s Fox School of Business worked with the Greater Philadelphia Hispanic Chamber of Commerce to develop a recently released report, “The State of Hispanic Business,” that provides business insights about Latino businesses and consumers in the region.

In order for the Hispanic Chamber of Commerce to better serve the Hispanic business community, students in the Fox Management Consulting (Fox MC) program conducted primary research; identified the problems that currently exist; and analyzed the Greater Philadelphia region’s Hispanic population to better grasp the community’s needs and provide accurate suggestions.

Hispanic Chamber of Commerce

Online MBA and Undergraduate students from the Fox School conducted primary research, including surveys and interviews, to determine the state of Hispanic businesses. The students found that these businesses had experienced rapid growth and demonstrated diversity, and faced two large challenges: attracting a new-customer base and gaining access to capital. From their research, the Fox students determined that change in the Hispanic business community would come as a result of further education of its business owners and through access to additional resources.

The partnership between Fox MC and the Greater Philadelphia Hispanic Chamber of Commerce provided a mutually beneficial opportunity, said David Nash, an Assistant Professor at the Fox School and a Lead Faculty member on the Fox MC group that worked closely with the Chamber.

“We were able to offer valuable insights into the vibrant and diverse state of Hispanic business and commerce in the Greater Philadelphia region,” Nash said, “and the project provided a unique opportunity for our Online MBA and Honors undergraduate students to demonstrate their capabilities.”

Natily Santos, an MBA student who worked on the project for the Hispanic Chamber of Commerce commented,  “As a local Philadelphia resident and Latina professional it was both professionally and personally fulfilling to have had the opportunity to contribute to this project during my MBA program, as well as support GPHCC efforts to increase awareness of the Philadelphia Hispanic community as being increasingly influential and an important contributor to the local economy and future progress of the region.”

The research will inform the Greater Philadelphia Hispanic Chamber of Commerce and its constituents and sponsors of local businesses’ needs, which included the banking and real estate sectors, and in turn, makes the Chamber a more-effective resource for the Hispanic business community.

“We were able to partner with Fox Management Consulting, who stepped in and completed the study on a budget,” said Varsovia Fernandez, President and CEO of the Greater Philadelphia Hispanic Chamber of Commerce. “Along with the challenges facing the Hispanic business community, Fox students identified opportunities in reaching and the purchasing habits of consumers.”

During a November 13 press conference at which “The State of Hispanic Business” was unveiled, Chairman of the Board of The Hershey Company called the report, “a monumental study.”

–Ashley Kloczynski