MESA, AZ — One in four — that's the number of new Hispanic-owned businesses in this country, according to the U.S. Small Business Administration.
As we celebrate Hispanic Heritage Month, it's important to look at all the ways the Hispanic community grows and shapes our economy, not just nationwide, but also right here in Arizona - and that includes a Valley man who beat the odds to cement his place in the Mesa business community and beyond.
Building a business that's a cut above the rest is a talent that's baked into Ignacio Del Rio after decades in the restaurant industry, but his road to success had plenty of bumps along the way.
He grew up in a small town in Mexico where he says there were no opportunities. When he was 10 years old, his mom passed away and he was sent to live with his aunts. At 16, he'd leave his family behind to make his way to the U.S., but would first make a life-changing pit-stop in Tijuana.
"I had 500 pesos in my pocket," explains Del Rio. "The bus was 365 pesos and I ran out of money in about two days, spent 27 days in Tijuana. I would go to parks, try to find bags that people left behind when they sat on benches, and see if they left food behind."
After spending nearly a month sleeping on the streets, rummaging through the trash for food, and fighting to survive, Del Rio was able to make his way to the U.S. and finally settled in Los Angeles where he started work at a gas station, then a McDonald's, and finally at a Mexican restaurant.
"I started as a dishwasher and within a few years, I became the president of the company."
And that level of success was no flash in the pan - fast forward to today and Del Rio is the owner of Bobby Q in Mesa off the U.S. 60 and Stapley where he manages more than 100 employees during the season. He's also a busy husband, father to eight children, an active member of the community, and still manages to grow his profits.
"This is the second year in a row that our sales are up 30%," Del Rio explains.
Bobby Q is one of the nearly five million Hispanic-owned businesses in the U.S., pumping more than $800 billion annually into the economy, according to the Small Business Administration.
Del Rio says being a Hispanic business owner means the world to him.
"It means I can share my success with my community."
Even in the face of doubters, he never lost hope and now serves as an example for anyone else who has ever dared to dream.
"You can do it. Anyone can do it. Just focus. And don't let anyone take your passion. See the goal. Breathe the goal. Sleep with the goal, dream with the goal, and just keep working really hard. It's not easy."
Del Rio is clearly a success story, but the reality is many Latino businesses typically have a harder time getting access to financing and funding from banks than white-owned businesses, especially when it comes to higher amounts. A report from Stanford University shows when asking for loans between $50,000 - $100,000, 78% of white-owned businesses get approved but the number drops to about half of that for Latino businesses.
To see that full Stanford report, click here.
Del Rio is also a board member of the East Valley Hispanic Chamber of Commerce which also has resources for businesses.
