Hola!

As the Latino demographics in the
United States continue to change, so
does the concentration of Latino-owned businesses. Houston is a global
market and this is also true of the international Latino population. We have a large
concentration of Mexican origin, but the
landscape for Latinos is broad here in
Houston; Latinos here have come from all
over Latin America and South America.

“You have Latino owners and then you
have some businesses that have diversified
ownership,” says Herman Rodriguez, vice
president and senior business relationship
manager at Wells Fargo Bank in Houston.
“It can really be diversified and there’s a lot
of assimilation that has come through in
the past decade.”

Smart Business talked to Rodriguez
about how the landscape of Latino-owned
businesses has changed in the last 10 years.

With an increase in the Hispanic population
in the U.S., how has Latino ownership
changed?

I do know that the Hispanic population in
Harris County became a majority in 2007
and I believe that Latino ownership has
grown because of those numbers. However, I think that the way it’s changed is that
there are a lot of businesses now that are
partnered or intermingled with other
nationalities. With assimilation has also
come an understanding of the business
systems in the United States. We have
major players that understand how banking, marketing and management contribute
to growth and profit.

Growing up in the majority Latino town
of Robstown, Texas, a city outside of
Corpus Christi, I learned and observed the
way business was done. I feel there has
been a lot of adaptation by Latino owners
to the ways the U.S. market.

What are some of the similarities and differences between working with Latino owners
and non-Latino owners?

Similarly, its nice to have a common
ground. Whether you’re both Aggies, or
you’re both Latinos, either way you have a
brethren and a common ground. However,
when working with Latinos, you have to
take culture, including the language barrier
and the level of assimilation, into account
because you have some owners who have
been in the country for a couple of years
and you have others that have been here
for generations. The biggest misconception is that all Latinos are recent immigrants. I speak fluent Spanish because it
was my first language. My parents not only
made me take it in college for reinforcement, but we spent time in Monterrey with
my family in the summer to keep my grasp.

Is it easier when you gain that knowledge
firsthand?

I think having the exposure to my
Mexican culture and Spanish language is a
definite advantage. The language by far has
exposed me to so many stories in my nine
years here in Houston. I know a number of
situations due to my ability to communicate in Spanish. This exposure gives me an
understanding and a way to not only relate,
but to help our clients. Most often, I find
common ground with similar experiences
and struggles. Latinos who speak fluent
Spanish usually prefer to speak in their
native tongue, especially when doing business. Formal Spanish is different than
Spanish spoken in Mexico or by Mexican-Americans in the United States. And in
Houston we are communicating with
Salvadorians, Nicaraguans, Puerto Ricans,
Cubans, Dominican Republicans; all of
those nations are represented and all of the
dialects may be similar and different at the
same time. If I speak Spanish, they don’t
need a translator and they are hearing their
questions answered in their own language
so they are able to understand it better.
Clients form bonds with their bankers
regardless of language, and that is completely encouraged. If you do not have a
bond or sense of trust with your banker, I
encourage you to find it.

What effect does NAFTA have on relations
with Latino clients?

I think NAFTA had a large impact on
doing business in the US, period. It has positive and negative aspects, which I do not
have the expertise to define. I will say
though that in my personal opinion, it has
put a welcome mat on America’s front door
that says ‘We want to do business with
you,’ to Latin American countries. NAFTA
opened a new chapter in getting closer to a
free enterprise system.

What kind of future do you see for Latino
business owners?

Latino-owned businesses, especially
those that deal regionally in Texas, are at
an advantage because they understand
their consumer. Texas has seen a big influx
of Latinos, as has California, and to do
business in Texas without consideration
or a level of understanding would not be
beneficial.

HERMAN RODRIGUEZ is a vice president and senior business relationship manager at Wells Fargo Bank. Reach him at (281) 587-3021 or [email protected].