Latinos: A powerful force turbocharging small-business growth and driving $700 billion into the US economy

There's a powerful force turbocharging small-business growth in the United States that often goes overlooked. It's the Latino contingent that has outstripped all other demographic groups in the sector. The nearly 4.4 million Latino-owned businesses in the United States contribute more than $700 billion to the American economy every year, according to a study by the U.S. Hispanic Chamber of Commerce. In fact, Latino-owned companies have grown 31.6 percent since 2012, more than double the growth rate of all businesses across America (13.8 percent), the USHCC reports.

LatinoLendrzHub EditorialDecember 31, 2018latino-owned business, se habla español, hispanic community, hispano

Latino-Owned Businesses May Be the U.S. Economy’s Best Bet

They’re called LOBs for short, but they’re working on a fastball. Latino entrepreneurs are starting small businesses faster than the rest of the startup population and becoming a bigger part of the total U.S. market every day. Estimates are that they will make up 29 percent of the U.S. population by 2050, up from 17 percent today.

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