Latino business growth outstrips the rest
*This flies in the face of the perception that Latinos are “takers.” Latinos are starting businesses at 15 times the rate of the national average, mainly because the lack of opportunities in established businesses and big companies. VL
By Joyce M. Rosenberg, Associated Press
The growth in Hispanic-owned businesses in the U.S. is outstripping that of companies in general, according to a study released Monday.
[tweet_dis]Between 2012 and 2015, the number of Hispanic-owned businesses has grown at an annual rate of 7.5 percent[/tweet_dis], 15 times faster than the 0.5 percent growth rate for all companies, according to the study by the consulting firm Geoscape and the United States Hispanic Chamber of Commerce. [pullquote]”Many choose to create their own businesses because they didn’t see the opportunities in Corporate America.”[/pullquote] [tweet_dis]There are an estimated 4.07 million Hispanic-owned businesses in the country, up 57 percent since 2007[/tweet_dis], the study said.Revenue at Hispanic-owned companies has also surged, rising 88 percent to a projected $661 billion this year from $351 billion in 2007.
Click HERE to read the full story.
[Photo by Stijn Nieuwendijk/Flickr]
