Hispanic-Owned Businesses Growing in the US

According to a new report released by the Census Bureau, Hispanic-owned businesses now comprise one of the fastest-growing segments the U.S. economy. Between 1997 and 2002, the number of businesses owned by Hispanics grew by 31 percent, reaching 1.6 million in 2002 and generating more thab $200 billion in revenue.

These numbers demonstrate the fact that Hispanics don't only come to the US to take jobs. They also create them. The majority of these businesses are small, self-employed operations. There are also sizable numbers of Hispanic-owned firms in the fields of health care, retail trade and transportation, according to Census figures.

Many of these businesses are growing in unexpected places. While most are still in California, Texas, Florida and New York, the states where Hispanic-owned firms are growing at the fastest rate, after New York, are Rhode Island and Georgia, followed by Nevada and South Carolina.


Latinos are also responding to globalization. It transforms not only their communities in the US but also redefines their relationships with their countries of origin.

For more insightful research about the Hispanic community on topics such as economics, health and education visit the Thomas Rivera Institue at: http://www.trpi.org/update/research.html