Thursday, September 24, 2015

Hispanic business growth outstrips rest of U.S.

The growth in Hispanic-owned businesses in the United States is outstripping that of companies in general, according to a study released Monday.

Between 2012 and 2015, the number of Hispanic-owned businesses grew at an annual rate of 7.5 percent, 15 times faster than the 0.5 percent growth rate for all companies, according to the study by the consulting firm Geoscape and the United States Hispanic Chamber of Commerce.

There are an estimated 4.07 million Hispanic-owned businesses in the country, up 57 percent since 2007, the study said.

Revenue at Hispanic-owned companies also surged, rising 88 percent to a projected $661 billion this year from $351 billion in 2007.

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