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Latino Daily News

Sunday May 29, 2011

Nashville One of Nations Top Markets For Hispanic-Owned Businesses

Nashville One of Nations Top Markets For Hispanic-Owned Businesses

Photo: Nashville Top Market for Hispanic-Owned Businesses

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Nashville’s Hispanic immigrant population has soared over the last eight years and with that came many entrepreneurs making Nashville one of the nation’s top markets for Hispanic-owned businesses.

Currently Nashville ranks fourth as a top U.S. market for Hispanic self-employment which is an indicator of the number of businesses started.  In addition,  Forbes magazine has identified Nashville as a mecca for all immigrant entrepreneurs ranking it third in the U.S.

While Nashville has a small immigrant population at 107,000 it has “soared” from much lower levels by 83 percent from 2000 to 2008.  Specifically the Hispanic population over the last 10 years has grown 44 percent according to the most recent census.  One out of every 10 Nashville residents is Hispanic.

Currently there are over 1,000 Hispanic-owned businesses in the city, an increase of 60 percent over the last five years.  Many Hispanic business owners credit the technical assistance and entrepreneur programs catering to minorities as the reason why there are so many Hispanics starting their own businesses.

“What the successful immigrant entrepreneurs here have in common is a strong work ethic that leads them to spend countless hours at their businesses”, said Yuri Cunza of the Nashville Area Hispanic Chamber of Commerce.