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Latino Daily News

Tuesday July 20, 2010

Where Hispanic Population Grows So Does Number of Hispanic-Owned Businesses

The number of Hispanic owned businesses is on the rise across the United States especially where their population is growing and that is in the southern belt of the country.  The southern region of the U.S. is showing the fastest growth in Hispanic owned businesses especially in North Carolina and Arkansas paralleling strong Hispanic population growth.

Across the country the number of Hispanic owned businesses grew by average of 44% whereas the number of non-Hispanic businesses grew by 14%.  The southern regions growth far exceeded the national figures with recent Census figures for 2007 showing a 160% growth for Hispanic owned in Arkansas and a 135% increase in North Carolina.

The majority of Hispanic owned businesses are concentrated in construction and home repair and maintenance.  Regardless of these great strides made by Hispanic owned businesses and the entrepreneurial spirit behind them, average revenue for these business lag national averages.  The national average for U.S owned businesses is $500,000 versus $180,000 for a Hispanic owned. 

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