2015 FCC Ruling on Spectrums Has the Potential to Shape the Hispanic Business Community
In 2015 the FCC will be expanding existing wireless spectrums via an auction, and many in the Hispanic community are hoping that this will prove a boon for Hispanic businesses hoping to improve their online presence.
According to U.S. Hispanic Chamber of Commerce President Javier Palomarez, currently, “There is less capacity on their networks to deliver quality connectivity and support all of the innovative mobile technologies that can empower our Hispanic-owned businesses.” There has been an ongoing debate within the FCC regarding the increasing demand for wireless airwaves — network congestion is rife.
Whether or not the networks open up, though, the Hispanic Chamber of E-Commerce stresses that part of the problem — and the potential solution — is that Hispanic companies simply lack an understanding of employing online marketing strategies and connecting to their audiences.
“The Internet is a very powerful business tool to do so that it is not actively and effectively used by the majority of the Hispanic-owned businesses,” explains founder Tayde Aburto, and he notes that among the Hispanic business community, less than 50% of businesses with under 250 employees have a website. While there might be difficulties when it comes to limited spectrum space, Aburto says that Hispanic business owners should start by working with what is available.
Many businesses in the U.S. are interested in tapping into marketing to Hispanic consumers, who are slated to reach $1.5 trillion dollars in purchasing power by 2015 — and Hispanic businesses are in a prime position to reach these markets. However, there are several potentially significant obstacles standing in the way. Successful online marketing would be one, and gaining adequate financing would be another. Hispanic business owners sometimes experience difficulty receiving loans, and a lack of available money can cripple otherwise successful business plans.