No sector promises to turn early-stage financing into GDP growth like Latino-owned businesses (LOBs).
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.
According to a study the Stanford Graduate School of Business, if those businesses grew as fast as the U.S. average, they could add $1.4 trillion to the U.S. economy.
That’s a tough number ...