Insights into the world of small business lending and development
With a level playing field, latino entrepreneurs could contribute $1.47 trillion to the U.S. economy
This post originally appeared on the blog of our partner, CDC Small Business Finance.
As an organization committed to creating access to capital for Latino entrepreneurs, we feel it is critical to share a look at the state of Latino-owned businesses. We encourage everyone to ask themselves if they are stepping up to support Latino small business growth and success.
DID YOU KNOW?
- There are more than 4 million Latino entrepreneurs in the nation.
- In California, a quarter of all businesses are owned by Hispanic entrepreneurs. But in spite of this entrepreneurial clout, Latino businesses account for just 6.5 percent of receipts and sales in the state.
- Latino businesses are currently driving over $660 billion into the U.S. economy annually.
- Latino entrepreneurs are outpacing the growth of all other businesses in the U.S. by 3-to-1.
- Potential to add $1.47 trillion to the U.S. economy if Latino entrepreneurs had the same access to resources and opportunity as their counterparts.