| Which age category best describes you? | Count of Respondents | Percentage of Respondents |
|---|---|---|
| 65 to 74 years old | 1 | 1% |
| 45 to 64 years old | 35 | 31% |
| 35 to 44 years old | 42 | 37% |
| 25 to 34 years old | 30 | 26% |
| 18 to 24 years old | 6 | 5% |
| Hispanic League's PyMEs Survey | ||
| What is the highest educational level you have obtained? | Count of Respondents | Percentage of Respondents |
|---|---|---|
| Master's or higher degree | 13 | 12% |
| Bachelor's degree | 34 | 32% |
| Associate's degree | 22 | 21% |
| High School diploma / GED | 24 | 23% |
| Some high school or 8th grade | 13 | 12% |
| Hispanic League's PyMEs Survey | ||
| What is your gender? | Count of Respondents | Percentage of Respondents |
|---|---|---|
| Woman | 51 | 48% |
| Man | 56 | 52% |
| Hispanic League's PyMEs Survey | ||
| What is your or your family's country of origin? | Count of Respondents | Percentage of Respondents |
|---|---|---|
| Argentina | 12 | 9% |
| Brazil | 14 | 11% |
| Colombia | 10 | 8% |
| Mexico | 51 | 40% |
| Other | 42 | 33% |
| Hispanic League's PyMEs Survey | ||
| What is the primary language you speak at home? Please select all that apply | Response Options | Count of Respondents | Percentage of Respondents |
|---|---|---|---|
| Another language | No | 115 | 99% |
| Another language | Yes | 1 | 1% |
| English | No | 48 | 41% |
| English | Yes | 68 | 59% |
| Spanish | No | 34 | 29% |
| Spanish | Yes | 82 | 71% |
| Hispanic League's PyMEs Survey | |||
| If your primary language at home is a language other than English, how well do you speak English? | Count of Respondents | Percentage of Respondents |
|---|---|---|
| Very Well | 24 | 29% |
| Well | 36 | 43% |
| Not Well | 23 | 28% |
| Hispanic League's PyMEs Survey | ||
| Which of the following best describes your role in the business and/or entrepreneurial community? | Count of Respondents | Percentage of Respondents |
|---|---|---|
| I am in the very beginning stages of starting or opening a business | 42 | 33% |
| I am a small or medium business owner or entrepreneur | 87 | 67% |
| Hispanic League's PyMEs Survey | ||
| How many owners does your business have? | Count of Respondents | Percentage of Respondents |
|---|---|---|
| 4 or more | 11 | 13% |
| 3 | 10 | 12% |
| 2 | 15 | 17% |
| 1 | 50 | 58% |
| Hispanic League's PyMEs Survey | ||
| How many owners does your business have? | Disaggregation | Disaggregation Options | Count of Respondents | Percentage of Respondents |
|---|---|---|---|---|
| 1 owner | Gender | Man | 14 | 39% |
| 2 or more owners | Gender | Man | 22 | 61% |
| 1 owner | Gender | Woman | 27 | 77% |
| 2 or more owners | Gender | Woman | 8 | 23% |
| Hispanic League's PyMEs Survey | ||||
| Is your business for-profit or non-profit? | Count of Respondents | Percentage of Respondents |
|---|---|---|
| Non-profit | 6 | 7% |
| For-profit | 77 | 93% |
| Hispanic League's PyMEs Survey | ||
| What type of business is your business? | Count of Respondents | Percentage of Respondents |
|---|---|---|
| Arts-based business (theater, gallery, etc.) | 4 | 5% |
| Auto shop or auto-related business | 10 | 11% |
| Construction | 8 | 9% |
| Convenience store or gas station | 5 | 6% |
| Grocery store | 8 | 9% |
| Healthcare related business (pharmacy, chiropractic, etc.) | 4 | 5% |
| Hospitality related business (not including food service) | 3 | 3% |
| Information technology | 7 | 8% |
| Manufacturing related business | 4 | 5% |
| Other, not listed above (please specify): | 3 | 3% |
| Professional services (translation or interpreting services, lawyers, accountants, consultants, etc.) | 9 | 10% |
| Real estate | 5 | 6% |
| Restaurant or food service (bakery, catering etc.) | 10 | 11% |
| Retail (salon or barber shop, laundromat, shoe or jewelry store, etc.) | 7 | 8% |
| Hispanic League's PyMEs Survey | ||
| Which best describes the location of your business? If you have multiple business or store front locations then please select all that apply if the locations vary. | Response Options | Count of Respondents | Percentage of Respondents |
|---|---|---|---|
| Commercial space used by more than one business (i.e., a plaza with multiple businesses but separate leases) | No | 68 | 87% |
| Commercial space used by more than one business (i.e., a plaza with multiple businesses but separate leases) | Yes | 10 | 13% |
| Commercial space used by more than one business with a shared lease (i.e., both businesses are financially responsible for space) | No | 71 | 91% |
| Commercial space used by more than one business with a shared lease (i.e., both businesses are financially responsible for space) | Yes | 7 | 9% |
| I am currently looking for space | No | 75 | 96% |
| I am currently looking for space | Yes | 3 | 4% |
| Independent commercial space (i.e., non-residential space not shared with any other business) | No | 37 | 47% |
| Independent commercial space (i.e., non-residential space not shared with any other business) | Yes | 41 | 53% |
| Residential space, alone | No | 64 | 82% |
| Residential space, alone | Yes | 14 | 18% |
| Residential space, shared with another person that also uses residence for business | No | 70 | 90% |
| Residential space, shared with another person that also uses residence for business | Yes | 8 | 10% |
| Shared co-working space (e.g., Flywheel) | No | 73 | 94% |
| Shared co-working space (e.g., Flywheel) | Yes | 5 | 6% |
| Hispanic League's PyMEs Survey | |||
| What is the 5-digit zip code your business is located in? | Count of Respondents | Percentage of Respondents |
|---|---|---|
| 27009 | 2 | 2% |
| 27012 | 4 | 4% |
| 27023 | 4 | 4% |
| 27045 | 2 | 2% |
| 27050 | 1 | 1% |
| 27094 | 5 | 5% |
| 27098 | 3 | 3% |
| 27099 | 4 | 4% |
| 27101 | 3 | 3% |
| 27102 | 5 | 5% |
| 27103 | 6 | 6% |
| 27104 | 4 | 4% |
| 27105 | 6 | 6% |
| 27106 | 10 | 10% |
| 27107 | 15 | 14% |
| 27108 | 5 | 5% |
| 27109 | 1 | 1% |
| 27110 | 1 | 1% |
| 27111 | 1 | 1% |
| 27113 | 2 | 2% |
| 27115 | 1 | 1% |
| 27116 | 2 | 2% |
| 27127 | 8 | 8% |
| 27150 | 1 | 1% |
| 27152 | 2 | 2% |
| 27199 | 1 | 1% |
| 27284 | 5 | 5% |
| Hispanic League's PyMEs Survey | ||
| How long have you owned your business? | Count of Respondents | Percentage of Respondents |
|---|---|---|
| 9 or more years | 10 | 11% |
| 6-8 years | 18 | 21% |
| 3-5 years | 27 | 31% |
| 1-2 years | 19 | 22% |
| Less than a year | 13 | 15% |
| Hispanic League's PyMEs Survey | ||
| Currently, what stage of development is your business in? Select all that apply | Response Options | Count of Respondents | Percentage of Respondents |
|---|---|---|---|
| Exiting (I am looking to sell or transfer ownership of my business) | No | 81 | 98% |
| Exiting (I am looking to sell or transfer ownership of my business) | Yes | 2 | 2% |
| Expansion (Have opened multiple locations and/or branched out the business) | No | 72 | 87% |
| Expansion (Have opened multiple locations and/or branched out the business) | Yes | 11 | 13% |
| Growth (Have expanded business operations since the business's opening and extended the customer base) | No | 35 | 42% |
| Growth (Have expanded business operations since the business's opening and extended the customer base) | Yes | 48 | 58% |
| Maturity (The business is established within its industry and community / is currently stable) | No | 67 | 81% |
| Maturity (The business is established within its industry and community / is currently stable) | Yes | 16 | 19% |
| Startup (Recently crafted a business plan and started a business for an idea and/or product) | No | 64 | 77% |
| Startup (Recently crafted a business plan and started a business for an idea and/or product) | Yes | 19 | 23% |
| Hispanic League's PyMEs Survey | |||
| How many businesses do you currently own? | Count of Respondents | Percentage of Respondents |
|---|---|---|
| 3 or more | 5 | 6% |
| 2 | 10 | 12% |
| 1 | 70 | 82% |
| Hispanic League's PyMEs Survey | ||
| How many paid positions does your business have other than yourself/other business owners? | Count of Respondents | Percentage of Respondents |
|---|---|---|
| 10 or more paid positions | 26 | 36% |
| Less than 10 paid positions | 47 | 64% |
| Hispanic League's PyMEs Survey | ||
| In your most recent fiscal year, what was the approximate revenue of your business? | Count of Respondents | Percentage of Respondents |
|---|---|---|
| $1,500,000 or more | 4 | 6% |
| $1,000,000 to $1,499,999 | 4 | 6% |
| $750,000 to $999,999 | 3 | 5% |
| $500,000 to $749,999 | 7 | 11% |
| $250,000 to $499,999 | 5 | 8% |
| $100,000 to $249,999 | 10 | 15% |
| $50,000 to $99,999 | 8 | 12% |
| $25,000 to $49,999 | 6 | 9% |
| Less than $25,000 | 8 | 12% |
| Prefer not to Answer / I don't know | 11 | 17% |
| Hispanic League's PyMEs Survey | ||
| In your most recent fiscal year, what was the approximate revenue of your business? | Disaggregation | Disaggregation Options | Count of Respondents | Percentage of Respondents |
|---|---|---|---|---|
| $250,000 or more | Family-owned Status | Family-owned | 10 | 30% |
| Less than $250,000 | Family-owned Status | Family-owned | 23 | 70% |
| $250,000 or more | Family-owned Status | Not family-owned | 13 | 62% |
| Less than $250,000 | Family-owned Status | Not family-owned | 8 | 38% |
| Hispanic League's PyMEs Survey | ||||
| How would you characterize the consistency of the growth at this company since you started or took over your business? | Count of Respondents | Percentage of Respondents |
|---|---|---|
| Consistent, steady growth | 36 | 47% |
| Consistent, steady decline | 3 | 4% |
| Dramatic, swings up and down or year-to-year | 21 | 28% |
| Neither consistent nor dramatic | 16 | 21% |
| Hispanic League's PyMEs Survey | ||
| Which of the following funding sources has your business used or applied for? Please select all that apply. | Response Options | Count of Respondents | Percentage of Respondents |
|---|---|---|---|
| Business credit card | No | 77 | 92% |
| Business credit card | Yes | 7 | 8% |
| Business loan from a bank or credit union | No | 66 | 79% |
| Business loan from a bank or credit union | Yes | 18 | 21% |
| COVID-19 Economic Injury Disaster Loan | No | 79 | 94% |
| COVID-19 Economic Injury Disaster Loan | Yes | 5 | 6% |
| Community/philanthropic and government grants | No | 81 | 96% |
| Community/philanthropic and government grants | Yes | 3 | 4% |
| Family loan (e.g., lending circle) | No | 80 | 95% |
| Family loan (e.g., lending circle) | Yes | 4 | 5% |
| Family/friends credit card(s) | No | 80 | 95% |
| Family/friends credit card(s) | Yes | 4 | 5% |
| Family/friends savings | No | 63 | 75% |
| Family/friends savings | Yes | 21 | 25% |
| Home equity loan | No | 80 | 95% |
| Home equity loan | Yes | 4 | 5% |
| Paycheck Protection Program (PPP, COVID-19 recovery program) | No | 82 | 98% |
| Paycheck Protection Program (PPP, COVID-19 recovery program) | Yes | 2 | 2% |
| Personal credit card(s) | No | 60 | 71% |
| Personal credit card(s) | Yes | 24 | 29% |
| Personal loan | No | 70 | 83% |
| Personal loan | Yes | 14 | 17% |
| Personal savings | No | 21 | 25% |
| Personal savings | Yes | 63 | 75% |
| Private equity | No | 79 | 94% |
| Private equity | Yes | 5 | 6% |
| Hispanic League's PyMEs Survey | |||
| Did you apply for any financial assistance from the Paycheck Protection Program (PPP) to help your business during the COVID-19 pandemic? | Count of Respondents | Percentage of Respondents |
|---|---|---|
| Yes | 33 | 39% |
| No | 28 | 33% |
| I did not know about the program or I did not know know how to apply for the program | 18 | 21% |
| My business was not in operation at the time of the program | 5 | 6% |
| Hispanic League's PyMEs Survey | ||
| Which of the following best describes where you are at in starting your business? | Count of Respondents | Percentage of Respondents |
|---|---|---|
| I have an idea for a business or product to launch and a plan to launch it | 5 | 26% |
| I have an idea for a business or product to launch, but do not have concrete plans to launch it yet | 6 | 32% |
| I am still in the ideas stage considering what business or product I want to launch | 8 | 42% |
| Hispanic League's PyMEs Survey | ||
| When do you expect your business to open or to launch your product? | Count of Respondents | Percentage of Respondents |
|---|---|---|
| In a year or two | 5 | 12% |
| Within the year | 17 | 41% |
| Within the next 9 months | 2 | 5% |
| Within the next 6 months | 9 | 22% |
| Within the next 3 months | 8 | 20% |
| Hispanic League's PyMEs Survey | ||
| Do you have physical space for your business? | Count of Respondents | Percentage of Respondents |
|---|---|---|
| Yes | 22 | 55% |
| No | 18 | 45% |
| Hispanic League's PyMEs Survey | ||
| What kind(s) of physical spaces do you currently have or do you anticipate needing over the next year? Please select all that apply. | Response Options | Count of Respondents | Percentage of Respondents |
|---|---|---|---|
| Commercial kitchen | No | 37 | 95% |
| Commercial kitchen | Yes | 2 | 5% |
| I am or plan on operating my business out of a residential space only | No | 31 | 79% |
| I am or plan on operating my business out of a residential space only | Yes | 8 | 21% |
| Maker or production space | No | 29 | 74% |
| Maker or production space | Yes | 10 | 26% |
| Office | No | 26 | 67% |
| Office | Yes | 13 | 33% |
| Other space | Other, please specify: | 1 | 100% |
| Retail | No | 33 | 85% |
| Retail | Yes | 6 | 15% |
| Studio | No | 27 | 69% |
| Studio | Yes | 12 | 31% |
| Warehousing/shipping/receiving | No | 29 | 74% |
| Warehousing/shipping/receiving | Yes | 10 | 26% |
| Hispanic League's PyMEs Survey | |||
| What type of business is your business? | Count of Respondents | Percentage of Respondents |
|---|---|---|
| Arts-based business (theater, gallery, etc.) | 5 | 12% |
| Auto shop or auto-related business | 3 | 8% |
| Construction | 3 | 8% |
| Convenience store or gas station | 1 | 2% |
| Grocery store | 1 | 2% |
| Healthcare related business (pharmacy, chiropractic, etc.) | 3 | 8% |
| Information technology | 3 | 8% |
| Manufacturing related business | 2 | 5% |
| Other, not listed above (please specify): | 2 | 5% |
| Professional services (translation or interpreting services, lawyers, accountants, consultants, etc.) | 3 | 8% |
| Real estate | 2 | 5% |
| Restaurant or food service (bakery, catering etc.) | 4 | 10% |
| Retail (salon or barber shop, laundromat, shoe or jewelry store, etc.) | 8 | 20% |
| Hispanic League's PyMEs Survey | ||
| Response Options | Accessing capital / financial resources | Accessing information on how to apply for a loan | Bookkeeping / administration tasks involving managing money | Growing the business / product development | Inflation / increasing costs | Language barriers | Other financial management challenges |
|---|---|---|---|---|---|---|---|
| I Don't Know or Not Applicable | 15 (13%) | 12 (11%) | 11 (10%) | 7 (6%) | 9 (8%) | 7 (6%) | 34 (55%) |
| Major Challenge | 43 (37%) | 27 (24%) | 20 (18%) | 35 (32%) | 43 (39%) | 10 (9%) | 5 (8%) |
| Minor Challenge | 37 (32%) | 44 (39%) | 47 (42%) | 44 (40%) | 36 (33%) | 42 (38%) | 7 (11%) |
| No Challenge | 21 (18%) | 30 (27%) | 33 (30%) | 25 (23%) | 21 (19%) | 52 (47%) | 16 (26%) |
| Hispanic League's PyMEs Survey | |||||||
| Response Options | Accessing capital / financial resources | Accessing information on how to apply for a loan | Bookkeeping / administration tasks involving managing money | Growing the business / product development | Inflation / increasing costs | Language barriers | Other financial management challenges |
|---|---|---|---|---|---|---|---|
| Challenge | 80 (79%) | 71 (70%) | 67 (67%) | 79 (76%) | 79 (79%) | 52 (50%) | 12 (43%) |
| No Challenge | 21 (21%) | 30 (30%) | 33 (33%) | 25 (24%) | 21 (21%) | 52 (50%) | 16 (57%) |
| Hispanic League's PyMEs Survey | |||||||
| Response Options | Language barriers | Marketing / advertising | Other marketing / advertising challenges | Writing a business plan |
|---|---|---|---|---|
| I Don't Know or Not Applicable | 9 (8%) | 12 (10%) | 35 (53%) | 10 (9%) |
| Major Challenge | 10 (9%) | 27 (23%) | 2 (3%) | 24 (21%) |
| Minor Challenge | 41 (36%) | 50 (43%) | 9 (14%) | 46 (40%) |
| No Challenge | 55 (48%) | 28 (24%) | 20 (30%) | 34 (30%) |
| Hispanic League's PyMEs Survey | ||||
| Response Options | Accessing information on business regulations, taxes, and laws | Complying with business regulations, taxes, and laws | Language barriers | Other business regulations challenges | Registering Business with State of North Carolina |
|---|---|---|---|---|---|
| I Don't Know or Not Applicable | 7 (6%) | 5 (4%) | 7 (6%) | 32 (48%) | 7 (6%) |
| Major Challenge | 24 (21%) | 27 (24%) | 8 (7%) | 3 (4%) | 16 (14%) |
| Minor Challenge | 42 (37%) | 40 (35%) | 32 (29%) | 12 (18%) | 43 (38%) |
| No Challenge | 42 (37%) | 41 (36%) | 64 (58%) | 20 (30%) | 46 (41%) |
| Hispanic League's PyMEs Survey | |||||
| Response Options | Accessing information on business regulations, taxes, and laws | Complying with business regulations, taxes, and laws | Language barriers | Other business regulations challenges | Registering Business with State of North Carolina |
|---|---|---|---|---|---|
| Challenge | 66 (61%) | 67 (62%) | 40 (38%) | 15 (43%) | 59 (56%) |
| No Challenge | 42 (39%) | 41 (38%) | 64 (62%) | 20 (57%) | 46 (44%) |
| Hispanic League's PyMEs Survey | |||||
| Response Options | Finding location for business | General safety or security (e.g., streets are walkable) | Language barriers | Other location and/or physical space challenges | Physical building condition(s) of business | Shoplifting, theft, or vandalism | Tenant or landlord issues |
|---|---|---|---|---|---|---|---|
| I Don't Know or Not Applicable | 5 (4%) | 10 (9%) | 5 (5%) | 32 (51%) | 14 (13%) | 15 (14%) | 15 (14%) |
| Major Challenge | 25 (22%) | 17 (15%) | 7 (6%) | 2 (3%) | 18 (17%) | 21 (19%) | 9 (8%) |
| Minor Challenge | 37 (32%) | 45 (40%) | 37 (33%) | 9 (14%) | 36 (33%) | 37 (33%) | 35 (32%) |
| No Challenge | 47 (41%) | 40 (36%) | 62 (56%) | 20 (32%) | 41 (38%) | 38 (34%) | 52 (47%) |
| Hispanic League's PyMEs Survey | |||||||
| Response Options | Finding location for business | General safety or security (e.g., streets are walkable) | Language barriers | Other location and/or physical space challenges | Physical building condition(s) of business | Shoplifting, theft, or vandalism | Tenant or landlord issues |
|---|---|---|---|---|---|---|---|
| Challenge | 62 (57%) | 62 (61%) | 44 (42%) | 11 (35%) | 54 (57%) | 58 (60%) | 44 (46%) |
| No Challenge | 47 (43%) | 40 (39%) | 62 (58%) | 20 (65%) | 41 (43%) | 38 (40%) | 52 (54%) |
| Hispanic League's PyMEs Survey | |||||||
| Response Options | Language barriers | Other personnel challenges | Recruiting or retaining employees | Training employees |
|---|---|---|---|---|
| I Don't Know or Not Applicable | 9 (8%) | 33 (51%) | 10 (9%) | 9 (8%) |
| Major Challenge | 10 (9%) | 4 (6%) | 16 (14%) | 20 (18%) |
| Minor Challenge | 38 (33%) | 8 (12%) | 50 (43%) | 40 (35%) |
| No Challenge | 59 (51%) | 20 (31%) | 39 (34%) | 45 (39%) |
| Hispanic League's PyMEs Survey | ||||
| How familiar are you with the existing resources available for businesses and entrepreneurs in the county? | Count of Respondents | Percentage of Respondents |
|---|---|---|
| Very familiar | 26 | 23% |
| Somewhat familiar | 51 | 44% |
| Not familiar at all | 38 | 33% |
| Hispanic League's PyMEs Survey | ||
| How familiar are you with the existing resources available for businesses and entrepreneurs in the county? | Disaggregation | Disaggregation Options | Count of Respondents | Percentage of Respondents |
|---|---|---|---|---|
| Not familiar at all | Gender | Man | 11 | 20% |
| Somewhat or very familiar | Gender | Man | 45 | 80% |
| Not familiar at all | Gender | Woman | 24 | 49% |
| Somewhat or very familiar | Gender | Woman | 25 | 51% |
| Hispanic League's PyMEs Survey | ||||
| How familiar are you with the existing resources available for businesses and entrepreneurs at the state or federal level? | Count of Respondents | Percentage of Respondents |
|---|---|---|
| Very familiar | 12 | 11% |
| Somewhat familiar | 54 | 48% |
| Not familiar at all | 46 | 41% |
| Hispanic League's PyMEs Survey | ||
| How familiar are you with the existing resources available for businesses and entrepreneursat the state or federal level? | Disaggregation | Disaggregation Options | Count of Respondents | Percentage of Respondents |
|---|---|---|---|---|
| Not familiar at all | Gender | Man | 17 | 30% |
| Somewhat or very familiar | Gender | Man | 39 | 70% |
| Not familiar at all | Gender | Woman | 26 | 57% |
| Somewhat or very familiar | Gender | Woman | 20 | 43% |
| Hispanic League's PyMEs Survey | ||||
| How do you as a business owner or entrepreneur learn about resources for your business(es)? (Select All that Apply) | Response Options | Count of Respondents | Percentage of Respondents |
|---|---|---|---|
| Internet | No | 19 | 49% |
| Internet | Yes | 20 | 51% |
| North Carolina 211 | No | 39 | 100% |
| Organization or institution in Forsyth County | No | 30 | 77% |
| Organization or institution in Forsyth County | Yes | 9 | 23% |
| Organization or institution in the United States | No | 38 | 97% |
| Organization or institution in the United States | Yes | 1 | 3% |
| Organization or institution in the state of North Carolina | No | 38 | 97% |
| Organization or institution in the state of North Carolina | Yes | 1 | 3% |
| Other, please specify: | No | 32 | 82% |
| Other, please specify: | Yes | 7 | 18% |
| Peer-to-peer support | No | 35 | 90% |
| Peer-to-peer support | Yes | 4 | 10% |
| Radio | No | 37 | 95% |
| Radio | Yes | 2 | 5% |
| Stores/Tiendas | No | 37 | 95% |
| Stores/Tiendas | Yes | 2 | 5% |
| Word of mouth | No | 28 | 72% |
| Word of mouth | Yes | 11 | 28% |
| Hispanic League's PyMEs Survey | |||
| Response Options | ACCESS Center for Equity + Success | Agile City | Center for Creative Economy / CCE | City of Winston-Salem | Greater Winston, Inc / The Chamber of Commerce | HUSTLE Winston-Salem | Hispanic Federation | Hispanic League | Innovation Quarter | Local Financial Institution (bank, credit union, CDFI) | North Carolina Department of Administration / Historically Underutilized Businesses | North Carolina Minority Business Development Agency | Prospera USA | Small Business Administration (SBA) | Small Business Center (SBC) at Forsyth Tech |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No | 95 (85%) | 101 (90%) | 79 (71%) | 96 (86%) | 97 (87%) | 101 (90%) | 97 (87%) | 86 (77%) | 97 (87%) | 95 (85%) | 101 (90%) | 100 (89%) | 101 (90%) | 92 (82%) | 97 (87%) |
| Yes | 17 (15%) | 11 (10%) | 33 (29%) | 16 (14%) | 15 (13%) | 11 (10%) | 15 (13%) | 26 (23%) | 15 (13%) | 17 (15%) | 11 (10%) | 12 (11%) | 11 (10%) | 20 (18%) | 15 (13%) |
| Hispanic League's PyMEs Survey | |||||||||||||||
| Response Options | City of Winston-Salem | Hispanic League | Local Financial Institution (bank, credit union, CDFI) | None of the above | Small Business Administration (SBA) |
|---|---|---|---|---|---|
| No | 64 (85%) | 65 (87%) | 65 (87%) | 48 (64%) | 64 (85%) |
| Yes | 11 (15%) | 10 (13%) | 10 (13%) | 27 (36%) | 11 (15%) |
| Hispanic League's PyMEs Survey | |||||
| Does your business have a need for translation or bilingual support in English or Spanish? | Count of Respondents | Percentage of Respondents |
|---|---|---|
| Yes | 39 | 49% |
| No | 40 | 51% |
| Hispanic League's PyMEs Survey | ||
| What is a greater translation or bilingual need for you and/or your business? | Count of Respondents | Percentage of Respondents |
|---|---|---|
| Translation or bilingual support for services, products, and/or marketing purposes | 14 | 36% |
| Interpretation or bilingual support for conversation or communication with staff, customers, or business partners/affiliates | 6 | 15% |
| Both | 19 | 49% |
| Hispanic League's PyMEs Survey | ||
The table below displays the results of the statistical tests ran by analysts. Analysts followed guidelines outlined by McHugh (2013) to determine which statistical test should be ran in each situation. The Statistical Significance column indicates whether a relationship between a question, the Dependent Variable column, and a disaggregation, the Independent Variable column, is stronger than what would likely be attributed to random chance at the 95% confidence level.
| Dependent Variable | Independent Variable | Statistical Test | p-value | Statistical Significance |
|---|---|---|---|---|
| How many owners does your business have? | Gender | Pearson's Chi-Square Test of Independence | 0.003 | Yes |
| How many owners does your business have? | Family-owned Status | Pearson's Chi-Square Test of Independence | 0.579 | No |
| How many owners does your business have? | Stage of Development | Fisher's Exact Test for Count Data | 0.469 | No |
| Is your business a family-owned business? | Gender | Pearson's Chi-Square Test of Independence | 0.112 | No |
| Is your business a family-owned business? | Stage of Development | Fisher's Exact Test for Count Data | 0.693 | No |
| How long have you owned your business? | Gender | Pearson's Chi-Square Test of Independence | 0.220 | No |
| How long have you owned your business? | Family-owned Status | Pearson's Chi-Square Test of Independence | 0.586 | No |
| How long have you owned your business? | Stage of Development | Fisher's Exact Test for Count Data | 0.399 | No |
| Currently, what stage of development is your business in? | Gender | Fisher's Exact Test for Count Data | 0.500 | No |
| Currently, what stage of development is your business in? | Family-owned Status | Fisher's Exact Test for Count Data | 0.693 | No |
| In your most recent fiscal year, what was the approximate revenue of your business? | Gender | Pearson's Chi-Square Test of Independence | 0.184 | No |
| In your most recent fiscal year, what was the approximate revenue of your business? | Family-owned Status | Pearson's Chi-Square Test of Independence | 0.045 | Yes |
| In your most recent fiscal year, what was the approximate revenue of your business? | Stage of Development | Fisher's Exact Test for Count Data | 0.603 | No |
| Did you apply for any financial assistance from the Paycheck Protection Program (PPP) to help your business during the COVID-19 pandemic? | Gender | Pearson's Chi-Square Test of Independence | 0.093 | No |
| Did you apply for any financial assistance from the Paycheck Protection Program (PPP) to help your business during the COVID-19 pandemic? | Family-owned Status | Pearson's Chi-Square Test of Independence | 0.851 | No |
| Did you apply for any financial assistance from the Paycheck Protection Program (PPP) to help your business during the COVID-19 pandemic? | Stage of Development | Fisher's Exact Test for Count Data | 0.750 | No |
| When do you expect your business to open or to launch your product? | Gender | Pearson's Chi-Square Test of Independence | 0.173 | No |
| Do you have physical space for your business? | Gender | Pearson's Chi-Square Test of Independence | 0.260 | No |
| How familiar are you with the existing resources available for businesses and entrepreneurs in the county? | Business Owner Status | Pearson's Chi-Square Test of Independence | 0.215 | No |
| How familiar are you with the existing resources available for businesses and entrepreneurs in the county? | Gender | Pearson's Chi-Square Test of Independence | 0.003 | Yes |
| How familiar are you with the existing resources available for businesses and entrepreneurs in the county? | Family-owned Status | Pearson's Chi-Square Test of Independence | 0.841 | No |
| How familiar are you with the existing resources available for businesses and entrepreneurs in the county? | Stage of Development | Fisher's Exact Test for Count Data | 1.000 | No |
| How familiar are you with the existing resources available for businesses and entrepreneursat the state or federal level? | Business Owner Status | Pearson's Chi-Square Test of Independence | 0.769 | No |
| How familiar are you with the existing resources available for businesses and entrepreneursat the state or federal level? | Gender | Pearson's Chi-Square Test of Independence | 0.014 | Yes |
| How familiar are you with the existing resources available for businesses and entrepreneursat the state or federal level? | Family-owned Status | Pearson's Chi-Square Test of Independence | 0.470 | No |
| How familiar are you with the existing resources available for businesses and entrepreneursat the state or federal level? | Stage of Development | Fisher's Exact Test for Count Data | 0.850 | No |
| Does your business have a need for translation or bilingual support in English or Spanish? | Gender | Pearson's Chi-Square Test of Independence | 0.157 | No |
| Does your business have a need for translation or bilingual support in English or Spanish? | Family-owned Status | Pearson's Chi-Square Test of Independence | 1.000 | No |
| Does your business have a need for translation or bilingual support in English or Spanish? | Stage of Development | Fisher's Exact Test for Count Data | 1.000 | No |
| Accessing capital / financial resources | Business Owner Status | Pearson's Chi-Square Test of Independence | 0.033 | Yes |
| Accessing capital / financial resources | Family-owned Status | Pearson's Chi-Square Test of Independence | 0.915 | No |
| Accessing capital / financial resources | Stage of Development | Fisher's Exact Test for Count Data | 0.883 | No |
| Accessing capital / financial resources | Gender | Pearson's Chi-Square Test of Independence | 0.394 | No |
| Accessing information on how to apply for a loan | Business Owner Status | Pearson's Chi-Square Test of Independence | 0.260 | No |
| Accessing information on how to apply for a loan | Family-owned Status | Pearson's Chi-Square Test of Independence | 0.135 | No |
| Accessing information on how to apply for a loan | Stage of Development | Fisher's Exact Test for Count Data | 0.889 | No |
| Accessing information on how to apply for a loan | Gender | Pearson's Chi-Square Test of Independence | 0.992 | No |
| Bookkeeping / administration tasks involving managing money | Business Owner Status | Pearson's Chi-Square Test of Independence | 0.086 | No |
| Bookkeeping / administration tasks involving managing money | Family-owned Status | Pearson's Chi-Square Test of Independence | 0.785 | No |
| Bookkeeping / administration tasks involving managing money | Stage of Development | Fisher's Exact Test for Count Data | 0.546 | No |
| Bookkeeping / administration tasks involving managing money | Gender | Pearson's Chi-Square Test of Independence | 0.276 | No |
| Growing the business / product development | Business Owner Status | Pearson's Chi-Square Test of Independence | 1.000 | No |
| Growing the business / product development | Family-owned Status | Pearson's Chi-Square Test of Independence | 0.732 | No |
| Growing the business / product development | Stage of Development | Fisher's Exact Test for Count Data | 0.699 | No |
| Growing the business / product development | Gender | Pearson's Chi-Square Test of Independence | 0.092 | No |
| Inflation / increasing costs | Business Owner Status | Pearson's Chi-Square Test of Independence | 0.243 | No |
| Inflation / increasing costs | Family-owned Status | Pearson's Chi-Square Test of Independence | 0.155 | No |
| Inflation / increasing costs | Stage of Development | Fisher's Exact Test for Count Data | 1.000 | No |
| Inflation / increasing costs | Gender | Pearson's Chi-Square Test of Independence | 1.000 | No |
| Language barriers (financial challenges) | Business Owner Status | Pearson's Chi-Square Test of Independence | 0.213 | No |
| Language barriers (financial challenges) | Family-owned Status | Pearson's Chi-Square Test of Independence | 0.334 | No |
| Language barriers (financial challenges) | Stage of Development | Fisher's Exact Test for Count Data | 1.000 | No |
| Language barriers (financial challenges) | Gender | Pearson's Chi-Square Test of Independence | 0.256 | No |
| Other financial management challenges | Business Owner Status | Fisher's Exact Test for Count Data | 0.705 | No |
| Other financial management challenges | Family-owned Status | Fisher's Exact Test for Count Data | 0.637 | No |
| Other financial management challenges | Stage of Development | Fisher's Exact Test for Count Data | 0.620 | No |
| Other financial management challenges | Gender | Fisher's Exact Test for Count Data | 1.000 | No |
| Advertising / marketing | Business Owner Status | Pearson's Chi-Square Test of Independence | 0.150 | No |
| Advertising / marketing | Family-owned Status | Pearson's Chi-Square Test of Independence | 0.763 | No |
| Advertising / marketing | Stage of Development | Fisher's Exact Test for Count Data | 0.145 | No |
| Advertising / marketing | Gender | Pearson's Chi-Square Test of Independence | 0.103 | No |
| Language barriers (marketing / advertising challenges) | Business Owner Status | Pearson's Chi-Square Test of Independence | 0.941 | No |
| Language barriers (marketing / advertising challenges) | Family-owned Status | Pearson's Chi-Square Test of Independence | 0.934 | No |
| Language barriers (marketing / advertising challenges) | Stage of Development | Fisher's Exact Test for Count Data | 1.000 | No |
| Language barriers (marketing / advertising challenges) | Gender | Pearson's Chi-Square Test of Independence | 0.124 | No |
| Writing a business plan | Business Owner Status | Pearson's Chi-Square Test of Independence | 0.193 | No |
| Writing a business plan | Family-owned Status | Pearson's Chi-Square Test of Independence | 0.631 | No |
| Writing a business plan | Stage of Development | Fisher's Exact Test for Count Data | 0.036 | Yes |
| Writing a business plan | Gender | Pearson's Chi-Square Test of Independence | 0.593 | No |
| Other marketing / advertising challenges | Business Owner Status | Fisher's Exact Test for Count Data | 0.066 | No |
| Other marketing / advertising challenges | Family-owned Status | Fisher's Exact Test for Count Data | 1.000 | No |
| Other marketing / advertising challenges | Stage of Development | Fisher's Exact Test for Count Data | 1.000 | No |
| Other marketing / advertising challenges | Gender | Fisher's Exact Test for Count Data | 1.000 | No |
| Accessing information on business regulations, taxes, and laws | Business Owner Status | Pearson's Chi-Square Test of Independence | 0.077 | No |
| Accessing information on business regulations, taxes, and laws | Family-owned Status | Pearson's Chi-Square Test of Independence | 0.405 | No |
| Accessing information on business regulations, taxes, and laws | Stage of Development | Fisher's Exact Test for Count Data | 0.317 | No |
| Accessing information on business regulations, taxes, and laws | Gender | Pearson's Chi-Square Test of Independence | 0.766 | No |
| Complying with business regulations, taxes, and laws | Business Owner Status | Pearson's Chi-Square Test of Independence | 0.183 | No |
| Complying with business regulations, taxes, and laws | Family-owned Status | Pearson's Chi-Square Test of Independence | 0.623 | No |
| Complying with business regulations, taxes, and laws | Stage of Development | Fisher's Exact Test for Count Data | 0.008 | Yes |
| Complying with business regulations, taxes, and laws | Gender | Pearson's Chi-Square Test of Independence | 0.480 | No |
| Language barriers (business regulation challenges) | Business Owner Status | Pearson's Chi-Square Test of Independence | 0.298 | No |
| Language barriers (business regulation challenges) | Family-owned Status | Pearson's Chi-Square Test of Independence | 0.212 | No |
| Language barriers (business regulation challenges) | Stage of Development | Fisher's Exact Test for Count Data | 0.903 | No |
| Language barriers (business regulation challenges) | Gender | Pearson's Chi-Square Test of Independence | 1.000 | No |
| Registering Business with State of North Carolina | Business Owner Status | Pearson's Chi-Square Test of Independence | 0.015 | Yes |
| Registering Business with State of North Carolina | Family-owned Status | Pearson's Chi-Square Test of Independence | 1.000 | No |
| Registering Business with State of North Carolina | Stage of Development | Fisher's Exact Test for Count Data | 0.089 | No |
| Registering Business with State of North Carolina | Gender | Pearson's Chi-Square Test of Independence | 0.450 | No |
| Other business regulations challenges | Business Owner Status | Pearson's Chi-Square Test of Independence | 0.038 | Yes |
| Other business regulations challenges | Family-owned Status | Fisher's Exact Test for Count Data | 0.616 | No |
| Other business regulations challenges | Stage of Development | Fisher's Exact Test for Count Data | 0.234 | No |
| Other business regulations challenges | Gender | Pearson's Chi-Square Test of Independence | 0.921 | No |
| Finding location for business | Business Owner Status | Pearson's Chi-Square Test of Independence | 0.047 | Yes |
| Finding location for business | Family-owned Status | Pearson's Chi-Square Test of Independence | 0.883 | No |
| Finding location for business | Stage of Development | Fisher's Exact Test for Count Data | 0.145 | No |
| Finding location for business | Gender | Pearson's Chi-Square Test of Independence | 0.426 | No |
| General safety or security (e.g., streets are walkable) | Business Owner Status | Pearson's Chi-Square Test of Independence | 0.448 | No |
| General safety or security (e.g., streets are walkable) | Family-owned Status | Pearson's Chi-Square Test of Independence | 1.000 | No |
| General safety or security (e.g., streets are walkable) | Stage of Development | Fisher's Exact Test for Count Data | 0.388 | No |
| General safety or security (e.g., streets are walkable) | Gender | Pearson's Chi-Square Test of Independence | 0.610 | No |
| Language barriers (location and/or physical space challenges) | Business Owner Status | Pearson's Chi-Square Test of Independence | 0.817 | No |
| Language barriers (location and/or physical space challenges) | Family-owned Status | Pearson's Chi-Square Test of Independence | 0.881 | No |
| Language barriers (location and/or physical space challenges) | Stage of Development | Fisher's Exact Test for Count Data | 0.605 | No |
| Language barriers (location and/or physical space challenges) | Gender | Pearson's Chi-Square Test of Independence | 0.422 | No |
| Physical building condition(s) of business | Business Owner Status | Pearson's Chi-Square Test of Independence | 1.000 | No |
| Physical building condition(s) of business | Family-owned Status | Pearson's Chi-Square Test of Independence | 0.798 | No |
| Physical building condition(s) of business | Stage of Development | Fisher's Exact Test for Count Data | 0.320 | No |
| Physical building condition(s) of business | Gender | Pearson's Chi-Square Test of Independence | 0.523 | No |
| Shoplifting, theft, or vandalism | Business Owner Status | Pearson's Chi-Square Test of Independence | 0.536 | No |
| Shoplifting, theft, or vandalism | Family-owned Status | Pearson's Chi-Square Test of Independence | 0.068 | No |
| Shoplifting, theft, or vandalism | Stage of Development | Fisher's Exact Test for Count Data | 0.913 | No |
| Shoplifting, theft, or vandalism | Gender | Pearson's Chi-Square Test of Independence | 0.527 | No |
| Tenant or landlord issues | Business Owner Status | Pearson's Chi-Square Test of Independence | 1.000 | No |
| Tenant or landlord issues | Family-owned Status | Pearson's Chi-Square Test of Independence | 0.698 | No |
| Tenant or landlord issues | Stage of Development | Fisher's Exact Test for Count Data | 0.356 | No |
| Tenant or landlord issues | Gender | Pearson's Chi-Square Test of Independence | 0.022 | Yes |
| Other location and/or physical space challenges (personnel challengs | Business Owner Status | Fisher's Exact Test for Count Data | 0.449 | No |
| Other location and/or physical space challenges (personnel challengs | Family-owned Status | Fisher's Exact Test for Count Data | 1.000 | No |
| Other location and/or physical space challenges (personnel challengs | Stage of Development | Fisher's Exact Test for Count Data | 0.117 | No |
| Other location and/or physical space challenges (personnel challengs | Gender | Fisher's Exact Test for Count Data | 0.399 | No |
| Language barriers (personnel challenges) | Business Owner Status | Pearson's Chi-Square Test of Independence | 0.111 | No |
| Language barriers (personnel challenges) | Family-owned Status | Pearson's Chi-Square Test of Independence | 0.939 | No |
| Language barriers (personnel challenges) | Stage of Development | Fisher's Exact Test for Count Data | 0.543 | No |
| Language barriers (personnel challenges) | Gender | Pearson's Chi-Square Test of Independence | 0.018 | Yes |
| Recruiting or retaining employees | Business Owner Status | Pearson's Chi-Square Test of Independence | 0.956 | No |
| Recruiting or retaining employees | Family-owned Status | Pearson's Chi-Square Test of Independence | 0.793 | No |
| Recruiting or retaining employees | Stage of Development | Fisher's Exact Test for Count Data | 1.000 | No |
| Recruiting or retaining employees | Gender | Pearson's Chi-Square Test of Independence | 0.131 | No |
| Training employees | Business Owner Status | Pearson's Chi-Square Test of Independence | 0.564 | No |
| Training employees | Family-owned Status | Pearson's Chi-Square Test of Independence | 0.930 | No |
| Training employees | Stage of Development | Fisher's Exact Test for Count Data | 0.712 | No |
| Training employees | Gender | Pearson's Chi-Square Test of Independence | 0.014 | Yes |
| Other personnel challenges | Business Owner Status | Fisher's Exact Test for Count Data | 0.130 | No |
| Other personnel challenges | Family-owned Status | Fisher's Exact Test for Count Data | 1.000 | No |
| Other personnel challenges | Stage of Development | Fisher's Exact Test for Count Data | 0.084 | No |
| Other personnel challenges | Gender | Fisher's Exact Test for Count Data | 0.114 | No |
| Hispanic League's PyMEs Survey | ||||
Some questions in the survey allowed participants to select ‘Other’ and specify a personalized response if none of the options available applied to them. Preparing the data for analysis involves coding those ‘Other’ open-ended responses. For example, “What type of business is your business?” was a question asked to both current and prospective owners. There were 13 response options, but respondents could also select ‘Other’ and enter their responses. Forsyth Futures staff analyzed those open-ended responses and recoded them into existing categories if they matched or reflected an existing response option. For example, one participant stated their business industry was a “Dry cleaning service,” which was recoded under the existing “Retail” option since the open-ended response matched an original response option. ‘Other’ answers that did not fit an existing response option are summarized in the analysis write-up.
Most respondents who selected ‘I don’t know,’ ‘Not Sure,’ and/or ‘Prefer not to Answer’ as responses were removed from the data and treated as missing. In addition, some of the variables presented in the report represent collapsed or recoded versions of variables for better interpretation of analyses involving the disaggregations. For example, “Currently, what stage of development is your business in?” is a question of current business owners. It is a select all that apply-type question, and respondents could choose from five stages or select “I don’t know.” If the participant selected “I don’t know,” analysts treated the response as missing and removed it from the analyses involving that question. The report presents the full distribution of answers to readers, but for the disaggregations, analysts collapsed the variable from five response categories into three mutually exclusive categories (Startup and/or Growth Stage; Expanded Matured and/or Exiting Stage; and Various Stages). However, some of the variables in the report were not collapsed or used in disaggregation analyses due to insufficient responses and/or inability to collapse specific categories into mutually exclusive categories.
A significant issue with the data collection process was the infiltration of Internet bots, specifically with responses to the English version of the survey. Analysts employed various quality flags to remove suspected bots from the sample, including leveraging Qualtrics’ survey software, robust data quality flags, and manually going through suspected bots’ responses line-by-line to look for nonsensical information/responses to open-ended questions (including answers in languages other than English and Spanish), invalid business names, and additional response information. Before removing any suspected bots from the sample, two analysts agreed independently of removal. An email verification program was also used to ensure only respondents with valid emails were in the final sample.
A primary limitation of this study is that the results presented are from a cross-sectional survey at a fixed point in time and do not represent Hispanic/Latinx business owners’ or prospective owners’ attitudes, needs, or challenges over time.
Another limitation is the survey design. Although instructions stated to answer questions based on the business in greatest need of resources or help, business owners with more than one business may not have followed the instructions. However, most of the sample was unaffected since only 18% of owners reported owning more than one business. Additionally, pilots for both English-speaking and Spanish-speaking respondents were completed to ensure the questions and response categories were understandable in both languages. Nonetheless, the wording of survey questions could have been more challenging for current and prospective owners to understand, especially given some of the technical business terms or language used.
Lastly, survey recruitment was a considerable challenge for this survey. Efforts were made to ensure that the digital distribution of the survey was accessible across various sources (e.g., PyMEs committee members, social media, local news features, etc.) to reach as many Hispanic/Latinx business owners as possible with various incentives (e.g., gift cards, drawings). Despite this effort, internet bots accessed the survey since it was publicly available. While Forsyth Futures was careful and intentional in removing suspected bots (discussed earlier in Data Cleaning), a few respondents in the final sample may be internet bots who passed the data quality checks employed by analysts. Future survey efforts with Hispanic/Latinx populations should focus more on direct recruitment – in-person and digitally (e.g., via email).