Hispanic Heritage Month Success Story
Eduardo Crespo Dedicates His Life’s Work to Uplifting and Advocating for Hispanics in the United States
Since immigrating from Ecuador as a teenager, Eduardo Crespo has been an entrepreneurial self-starter, creating several companies and spearheading new initiatives throughout his life. Crespo's communications career started when he founded Latin Hit Parade, a groundbreaking Spanish-language radio program serving Lawrence Massachusetts.
Hispanic Market Solution was founded in 2008 when Crespo saw an opportunity to address a growing demand in corporations, non-profits, and businesses seeking strategies to penetrate Hispanic and Latino markets. Hispanic Market Solution assists by offering community engagement methodologies and support to organizations working on diversity, equity, and inclusion initiatives focused on Latino/Hispanic communities.
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.
Overcoming Pandemic Challenges
Like many businesses, Hispanic Market Solution faced challenges during the pandemic as marketing budgets tightened and sales declined.
Crespo navigated the crisis by utilizing the Paycheck Protection Program and securing an SBA Economic Injury Disaster Loan to keep the business open. In the second quarter of 2022, Hispanic Market Solution finally began to see a resurgence in sales – a testament to the resilience and stabilization of the economy.
The Hispanic Market Opportunity
Today, the Latino community has shown unprecedented demographic and labor force participation growth in Massachusetts and across the United States.
From 2010 to 2017, the Latino population surged by 28%, contributing to 60% of all population growth in the Commonwealth. According to the Gastón Institute at UMass Boston, by 2035 the Latino population will grow to over 1.15 million and represent nearly 15.3% of Massachusetts residents.
Latinos also represent the highest labor force participation at 70.2% in Massachusetts, which is due to the substantial proportion of their population being in the prime working age of 25 to 54 years of age. Crespo helps organizations navigate the Latino/Hispanic markets to find opportunities that can drive future growth within the realm of diversity, equity and inclusion.
2023 Minority Owned Small Business of the Year for Massachusetts
Throughout his career, Eduardo has demonstrated a relentless spirit to serve his community as a people connector and advocate for civil rights on behalf of his community. Crespo’s involvement in public service has allowed him to contribute in a variety of different capacities in these organizations and more:
- Co-founder and mentor, Entrepreneurship for All's Spanish Program, Emprendimiento para Todos
- United Way of Greater Boston and Merrimack Valley
- Commonwealth Corporation Board of Directors
- Lazarus House Board of Advisors
- Family Service Association, Board of Advisors
- MetroWest Chamber of Commerce, DEI committee
- OneSouthCoast Chamber of Commerce, DEI committee
- Straight Ahead Ministries
- Northern Essex Community College Foundation
In May of 2023, Crespo was honored as the Minority Owned Small Business of the Year for Massachusetts as part of National Small Business Week. In his speech, he dedicated the award to the Lawrence community and thanked his many family and friends for their unwavering support.