• About
  • Article PDF
  • White Papers
  • Listening Tours​
  • Contact
  • Support Us
  • Advertising & Sponsorships
Tuesday, May 17, 2022
No Result
View All Result
  • Login
Times Of Entrepreneurship
Growth and Equity for a Changing World
Times Of Entrepreneurship
No Result
View All Result

Entrepreneurs are Tapping into Employees on a Booming Island Nation With 11% Growth

How the Pandemic’s E-Commerce Boom Drove Hire Horatio's Success to 800 Employees

by Skyler Rossi
February 28, 2022
in Global, New Builders
Reading Time: 4 mins read
0
Share on FacebookShare on Twitter
Alex Ross, Jose Herrera and Jared Karson, co-founders of Hire Horatio

When e-commerce boomed during the pandemic, Jose Herrera and his two partners were at the ready with a call-center business. They had started Hire Horatio in 2018 after meeting at Columbia University, and quickly pivoted to focus on businesses growing or turning to online operations.

To keep costs down and to spur economic development in Herrera’s native Dominican Republic, the trio decided to locate most of their staff on the island. Now, Hire Horatio employs 800 people there, paying more than three times the average wage on the island, according to the company. The average GDP per capita was about $7,300 in 2020, according to the World Bank.

“Part of the reason why I decided to start the company was because I wanted to find a way to give back to the island, and I never knew how to do that,” Herrera said. “And when I started doing research about this particular industry– when I grew up there, I worked at a contact center – I learned firsthand that the quality of the people is amazing.”

The Dominican Republic is widely thought of as a call center country, like India or the Philippines. But it has important advantages, according to Herrera, who came to the United States to go into investment banking. 

“Everyone is fully bilingual in English and Spanish,” he said. “Because of our warm culture, we are naturally gifted when it comes to customer support and providing outstanding service. That remained etched in my mind when I moved.”

He and his co-founders, Jared Karson and Alex Ross, noticed the difficulty of retaining and building in-house customer service staff, so they set out to build a service that could handle it for companies.

They started Hire Horatio in graduate school, testing it out on their friends that were launching businesses. Now, the company brings in about $10 million annually in revenue. It’s based in New York City, where the company launched and many of its clients are located, and has two offices in the Dominican Republic.

The company has 63 clients – including New York-based TheSkimm, New York-based Zola and New York-based StarFace, according to its website –  and dedicates about 12 employees to each. Each company pays $13.50 to $16.50 an hour for Hire Horatio’s services, Herrera said. 

11% Growth Expected

The Dominican Republic’s economy has been one of the fastest growing economies in Latin America and the Caribbean, according to the World Bank. The pandemic caused the first economic recession in the last 17 years, according to the World Bank. More than 190,000 people lost their jobs in 2020 as a result, an economic crisis that affected impoverished households, women and informal workers the most. 

But the island rebounded quickly, thanks to its tourism industry that bounced back quickly last year. In December, Central Bank analysts expected its economy to grow by 11% in 2021, the best since 1992. 

As U.S.-based companies have struggled to find workers, Hire Horatio has been able to fill roles rapidly, growing from 200 employees. The team deliberately reached out to companies experiencing an e-commerce surge for the first time, such as dog-food delivery services or wedding dress shops. 

The company also launched an initiative to encourage its employees to volunteer on the island. It’s organized beach cleanups, food drives and fundraisers, Herrera said.

“The purpose of the program is to help those in need but also have a positive impact in society and remind everyone of how privileged we are to live in the country,” he said. “The environment is a big component of the program, but we also work with some other communities to also give back in that way.”

So far the three have not raised any outside funding, Herrera said. They’ve invested their own savings.

The Dominican Republic has the highest level of early-stage entrepreneurship activity in its economy class, according to the Global Entrepreneurship Monitor 2021/2022 report.  It has more than 10 adults starting a business for every adult running a business, according to the report. Though the data puts into question the island’s resources for growing mature businesses.

“Either there has been a very recent blossoming of entrepreneurship in that economy, so that new businesses have not had time to become established, or — and more likely — most of its new businesses are transient and will probably not survive into maturity,” according to the report.

The Ministerio de Industria y Comercio has released several programs to encourage entrepreneurship, including entrepreneurship resources, English classes and a podcast highlighting entrepreneurs, Herrera said.

Lessons Learned:

Target new customers among companies undergoing big changes. Hire Horation deliberately reached out to those who had to move online for the first time because of the pandemic.

Look for insights in your own experience. Founder Jose Herrera had worked at a call center early in his career.

For more inspiring stories, insights and actionable funding opportunities, subscribe to Times of E’s weekly newsletter, www.timesofe.com/introduction.
Tags: Alex RossHire HoratioJared KarsonJose Herrara
Skyler Rossi

Skyler Rossi

Related Posts

Two blonde women outside, leaning against a pole

Big Social Media Doesn’t Work So Well For Small Businesses. But the Market Is Shifting.

by Lori Ioannou
April 27, 2022
0

QBSleeves co-CEOs Barbara Booth (left) and Cornelia Quinn created airplane tray covers to safeguard travelers against germs during the pandemic....

woman in a colorful skirt and turban

Main Street Caught in a Whipsaw as the Fed Looks to Combat Inflation

by Lori Ioannou
March 16, 2022
0

Meghan Noland founded her own brand, Meghan Fabulous. It's taken creative tacks to deal with inflation. Credit: Tyler Rowell (https://www.tylerrowell.com/)...

black woman florist

A Washington, D.C. Florist Steps into her Father’s Shoes, With the Help of Georgetown Students

by Skyler Rossi
March 1, 2022
0

Alexes Haggins recently re-opened her father's florist shop. Alexes Haggins grew up working shifts at her father’s floral shop in...

Black man in headshot

Problem Solved: A Lawsuit from Mattel Almost Killed a Board Game Dream, but the Founder Rebounded

by Skyler Rossi
February 23, 2022
0

Sherry Martin Sherry Martin’s first go at the board game business went better than he could have imagined. A year...

A Historically Black Community in Miami Helped A New Small Business Survive the Pandemic

A Historically Black Community in Miami Helped A New Small Business Survive the Pandemic

by Skyler Rossi
February 16, 2022
0

Akino and Jamila West Jamila West always wanted to open a bread and breakfast. So when a developer told her...

white women

Problem Solved: Thinking about Shifting to a 4-Day Workweek? Here’s How One Company Did it.

by Skyler Rossi
February 15, 2022
0

Rececca Callahan A year into the pandemic, the burnout was taking a toll on Wonderlic’s employees. Staff at the company,...

Subscribe to Times of E’s Free Weekly Newsletter

Learn about the emerging ecosystem of diverse founders

Popular

  • Distribution of Realized U.S. Venture Outcome Over the Past Decade

    Venture Capital Returns Are More Skewed Than People Realize

    0 shares
    Share 0 Tweet 0
  • Take Your IRR With A Grain Of Salt. It’s A Vanity Metric

    0 shares
    Share 0 Tweet 0
  • A Young Tech Millionaire Moved To Boise. Now, He’s Humbler, And More Connected.

    0 shares
    Share 0 Tweet 0
  • Commentary: Women Now Face Pressure To Look Beautiful Everywhere They Go. Here’s How To Set Them Free.

    0 shares
    Share 0 Tweet 0
  • Weekly Newsletter: $200M Headed to Entrepreneurs, VCs’ Vanity, & Summer Vacation Plans

    0 shares
    Share 0 Tweet 0

Recent

woman leaning against a brick wall in a white jacket

Editor’s Note: Times of E Is On A Summer Schedule

May 12, 2022
Weekly Newsletter: Abortion Scare Politics, Manufacturing Ethos And Most Fundable Companies

Weekly Newsletter: $200M Headed to Entrepreneurs, VCs’ Vanity, & Summer Vacation Plans

May 12, 2022
Take Your IRR With A Grain Of Salt. It’s A Vanity Metric

Take Your IRR With A Grain Of Salt. It’s A Vanity Metric

May 11, 2022

Recommended

  • Health
  • Climate
  • Deep Tech
  • Finance
  • Education
  • Women Entrepreneurs
  • Mentorship
What If We Saw Refugees As A Market, Instead Of A Burden?

What If We Saw Refugees As A Market, Instead Of A Burden?

3 years ago
pioneer place

Transformation Starts With Art, And Conversation

2 years ago
  • About
  • Partner
  • Bespoke Research
  • Listening Tours​
  • Contact
  • Support Us
  • Privacy Policy

(703-966-7357)

© 2020 Mondial Publishing Inc. All Rights Reserved.

 
Facebook Twitter Linkedin
No Result
View All Result
  • Research
  • Finance
  • Women Entrepreneurs
  • New Builders
  • Ecosystem
  • Events
  • Newsletter
  • Editor’s Note

© 2022 Mondial Publishing Inc. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Free Download

Times of E Speaks with Jim McKelvey

Get exclusive insights on the future of entrepreneurship. 

Download Now

Support Times of E

Times of E covers the emerging ecosystem of diverse founders.

With your support of our journalism, you will receive our weekly newsletter and one of these resources for free: 

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?