Eduardo Crespo, CEO, Hispanic Market Solution,
Received the Massachusetts 2023
Minority Owned Business of the Year Award
Lawrence, MA-based Latino/Multicultural marketing, advertising, Diversity, Equity, and Inclusion firm engages corporations, non-profits, and government agencies with these growing markets.
BOSTON – The Small Business Administration (SBA) has named Hispanic Market Solution the 2023 Minority Owned Small Business of the Year for Massachusetts.
Hispanic Market Solution earned recognition for providing solutions to support Hispanic market penetration to organizations working on diversity, equity, and inclusion initiatives.
The company leverages its cultural and linguistic competencies to create targeted advertising, digital, social media, grassroots marketing, diversity training, media, and public relations campaigns. Additionally, HMS provides authentic transcreation, not a literal translation, which is the proper communication method,” according to Crespo.
“Eduardo Crespo has been a vital link for Hispanic market brand expansion and a pioneer in our region for more than two decades,” said District Director Robert Nelson. “Throughout his career, Eduardo has demonstrated a relentless spirit to serve his community as a people connector, finding opportunities and advocating for civil rights on behalf of his community.”
Since immigrating from Ecuador as a teenager – Crespo, an entrepreneurial self-starter, created several companies and spearheaded new initiatives throughout his career. Crespo’s communications career started when he founded Latin Hit Parade, a pioneering Spanish-language radio program serving Massachusetts listeners.
Crespo founded Hispanic Market Solution in 2008 when he saw an opportunity to address a growing demand in corporations, non-profits, and businesses seeking strategies to penetrate Hispanic and Latino markets. “The Hispanic Market Opportunity” thrived until the pandemic hit when sales steadily declined and marketing budgets tightened.
Eduardo used the Paycheck Protection Program to weather the storm and took out an SBA Economic Injury Disaster Loan to stay in business and survive the crisis. In the second quarter of 2022, Hispanic Market Solution finally began seeing a rise in sales again – proof that industries were stabilizing.
“It is imperative that we all recognize and appreciate the contributions of hard-working Latino business owners to our economy. Providing them access to technical assistance and capital are two main strategies to help them prosper. The leadership and staff of the Small Business Administration, along with its programs, continue to be an outstanding resource for all entrepreneurs. In addition, I applaud its “inclusive” effort by offering educational materials in Spanish and other languages,” stated Eduardo Crespo, CEO of Hispanic Market Solution.
Hispanic Market Solution’s past and present clients include Health Care For All, Eversource Energy, Entrepreneurship for All, American Airlines, Greylock Federal Credit Union, National Hispanic Corporate Council, Merrimack Valley Chamber of Commerce, Harvard Pilgrim Health Care, Cooperative Credit Union Association, Comcast, Harvard University, Hill Holiday, Hyatt Hotels, and MA Department of Public Health, to name a few.
Joe Bevilacqua, president of the Merrimack Valley Chamber of Commerce, nominated Eduardo Crespo and Hispanic Market Solution.
Crespo was honored at the annual SCORE Boston Celebrates Small Business Success Featuring the Massachusetts SBA 2023 Small Business Awards on Wednesday, May 10th, 2023, from 7:30 to 11:00 am, at the Sheraton Hotel, 100 Cabot St., Needham, MA.
About the U.S. Small Business Administration
The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start and grow their businesses. It delivers services to people through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.
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