When Marco Euceda arrived in North Carolina in 2003, he knew he wanted to have his own business.
Since childhood, he had dreamed of running his own company, and although the path has not been easy, he now leads a remodeling and construction company that employs about 10 people in the Triangle region.
“Dreams are always dreams. You have to work on them. They’re not easy,” said Euceda, a Honduran entrepreneur, to Enlace Latino NC.
His story reflects the reality of thousands of Latino entrepreneurs who in recent years have become a more visible presence in the state’s economy.
Between 2017 and 2022, Latino business ownership in North Carolina grew by nearly 65%, reaching 4.7% of all businesses in the state in 2022, according to estimates from the state Department of Commerce.
Behind those figures are about 80,000 immigrant entrepreneurs generating more than $2.5 billion in revenue, according to the state Hispanic Chamber of Commerce.
These businesses drive job growth, commercial activity and community transformation in sectors such as construction, food services and retail. However, structural challenges persist that affect their stability, from access to financing to changes in labor and immigration policies.
Small businesses sustain the economy
On May 3, at the start of National Small Business Week, President Donald Trump highlighted the role of small businesses as “the foundation of national strength.” He noted that more than 36 million small businesses employ nearly half of the country’s workforce.
In cities such as Wilmington and other growing communities across the state, small businesses have become an essential part of the local economy.
“Small businesses are the backbone of our area,” said Atiba Johnson, president and CEO of the Wilmington Minority Chamber of Commerce.
“If minority business owners did not exist in this area, the economy would collapse,” he told Enlace Latino NC.
Johnson added that these businesses are especially critical in communities where entrepreneurs represent a significant share of the market.
Euceda has seen that impact in his daily work. His company not only handles residential remodeling, but also maintenance in community facilities, such as nursing homes.
“We are part of the economy because we buy materials, fuel, equipment, and we also create jobs,” he explained.
Expansion of Latino entrepreneurship
With the increase in Latino business owners, a new generation of bilingual entrepreneurs is also emerging, expanding their presence in sectors such as real estate, services and commerce.
Isabela Luján, a real estate agent in Wilmington, said the Latino business community has grown visibly in recent years.
“When I arrived in 2018, there were only three real estate agents working almost exclusively with the Latino community, and now there are many more,” Luján told Enlace Latino NC. She is the owner of Casa Oro Property Group.
Luján, who is also founder of the Latin American Business Council of the Wilmington Chamber of Commerce, said young bilingual entrepreneurs are expanding their reach in the profession.
“Many of them start with the Hispanic community, but because they handle English very well and are bicultural, they end up working with the broader population, not just Hispanics,” she added.
Financial barriers
Experts warn that one of the main challenges for Latino small businesses is access to capital and the financial infrastructure needed to grow.
“Many businesses have potential, but access to capital is where they get held back,” said Vania Ramos Ponce, a certified public accountant and business adviser.
Ramos Ponce told Enlace Latino NC that many businesses operate with limited or informal financial systems, making it harder to access financing and expand.
Only 36% of Latino-owned firms receive full bank financing, compared with 50% of white business owners, according to data from the state Hispanic Chamber of Commerce.
Impact of immigration policies
For Latino entrepreneurs, the pressure is not only financial — it is also structural and political.
Workforce availability, language, sector instability and the political climate around immigration directly influence how their businesses operate.
Luján said the immigration environment has also contributed to greater economic caution in the real estate sector.
“That has made many people freeze a bit when it comes to deciding to invest,” she said. “Even people with legal status think twice before investing.”
For his part, Euceda expressed concern about a proposal introduced in the state General Assembly that seeks to expand the use of the federal E-Verify system. The measure would reduce the threshold from 25 to 5 employees for businesses required to verify the immigration status of their workers.
He said the proposal adds another layer of uncertainty to a construction sector already facing rising costs, payment delays and difficulties hiring labor.
“That obviously worries us a lot,” Euceda said. “We are trying to keep fighting and support our families, and also be a vehicle for other families to sustain themselves, because it creates job opportunities for new people.”
Also read: Resources and tools to pay for college and continue your education
Initiative to support Latino businesses
Amid this uncertainty, the organization “Aquí: The Accountability Movement” is working to strengthen Latino businesses during National Small Business Week.
Through its campaign “Buy Latino. Build Community. Build America,” it suggests that if 10% of households in the United States spent $30 at Latino businesses this week, it would generate $400 million in economic activity.
“From the corner store to the mechanic, from the restaurant that already knows your order to the small business creating the next innovation, these businesses are woven into the fabric of our daily lives,” said Sindy Benavides, the organization’s executive director.
“At the same time, many Latino-owned businesses face real and growing challenges linked to current immigration policies and a broader climate of fear,” she added. “This is not just a community issue — it’s an economic issue. When Latino businesses struggle, entire neighborhoods feel the impact.”
Despite the challenges, Euceda said he remains focused on sustaining his business and contributing both to the economy and his community.
“Many of us are family-oriented people fighting for them, and our main goal is to put food on the table, but also to contribute to the nation,” Euceda said.
PODCAST
Después de la tormenta
Hace un año, el huracán Helene golpeó al oeste de Carolina del Norte. La comunidad latina respondió con algo más fuerte que la tormenta: solidaridad.
🎧 En este episodio, conoce cómo las organizaciones latinas transformaron la crisis en resiliencia.
▶️ ¡Dale play para escuchar!
Republique gratuitamente nuestras historias en su website o periódico. Seguimos la licencia de Creative Commons. Dele clic al recuadro, y siga las instrucciones.
