‘These Businesses Are Growing at Twice the U.S. Rate’ – Entrepreneur
Rose Leadem says, “Hispanic-owned businesses are booming, with a growth rate double that of U.S. companies overall.
A recent study by Geoscape and the U.S. Hispanic Chamber of Commerce (USHCC) revealed the rapid growth of Hispanic entrepreneurship — and the impact of Hispanic businesses on the economy. The study projects that there will be 4.23 million Hispanic-owned businesses in the U.S. by the end of this year. The number has grown by 27.5 percent since 2012, vs. the 12.6 percent growth rate for all U.S. businesses over that time period.
This surge in business ownership comes at a time of slow growth for the U.S. Hispanic population, thanks in part to a decline in immigration from Latin America. Immigration from Mexico has even slowed to a standstill at times, according to the Pew Research Center. Still, though Hispanics comprise 17.4 percent of the U.S. population, the Geoscape/USHCC study finds this group accounts for 20 percent of all American entrepreneurs”.
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