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While there can be debate about what it means, the unassailable fact is that Latino -owned businesses in the United States are growing at a blistering pace — in fact more than twice the national average.  This trend has been sustained for at least the last decade and manifests itself both in the growing number and size of Latino- owned businesses.  During the latest 5-year period for which information is available from the census bureau, Latino owned business’ revenue jumped by an astonishing 55% to nearly $350 billion. Some think that the census data underestimates the economic clout of Latino businesses, estimating the sales of such businesses in 2008 at $547 billion.  Many are very substantial businesses with numerous employees: the number of Latino- owned businesses with more than $1 million in revenue grew to over 44,000 in 2007, up from just 29,000 five years earlier.

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Source:  Forbes

Author:  Evangeline Gomez

Tags: Hispanic, Latino, economy, growth

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This is exciting!...Proud to be a small part of what's happening.

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