Today, there are 4.65 million Hispanic-owned companies – representing 14% of the 33 million total U.S. businesses. And their growth continues to vastly outpace that of other U.S. businesses. In fact, Hispanic businesses grew 40.2% from 2012 to 2018 – more than twice the 18.8% growth rate of other U.S. firms. Today, about 1 out of every 7 businesses is run by a Hispanic American entrepreneur.
“The influence of Hispanic Americans in both the consumer and business markets continues to grow,” said Karthik Iyer, COO at Claritas. “Today, Hispanic American professionals are launching businesses at twice the rate of non-Hispanics. And they already own nearly 25% of businesses in areas such as the West South Central United States. So it’s no surprise that many marketers are looking for new ways to target this fast-growing professional market segment.”
Click Here to read the full article.
Join our network of Latino Entrepreneurs!