Some comments I gave at a congressional briefing on immigrant enterprise, September 12, 2014, in Washington D.C.
Recent census figures indicate that Latinos now constitute the largest American minority group. The rise of this population has coincided with an unprecedented growth in Latino business.
The Latino share of American entrepreneurs grew from 10.5 percent in 1996 to almost 20 percent in 2012. During the past ten years, the number of Latino owned businesses has doubled, growing from 1.5 million to over 3 million in 2014. This rate of growth in business ownership is twice that of the general population. This year, the projected combined annual revenue of these businesses is over $450 billion dollars – an increase of over $100 billion dollars in the past six years.
The rapid growth in Latino enterprise is also observed among Latinas, who, like their Latino male counterparts, represent one…
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