Runaway Growth for Hispanic Entrepreneurs


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The nation’s 3.2 million Hispanic-owned businesses will generate $468 billion in revenue this year, a study by Geoscape said, citing an increase from 1.6 million businesses and $254 billion in 2002.
A recent Business Week article attributed that growth to the fact that immigrants are 27 percent more likely to start a business than native-born Americans.
“For a good period of time, Hispanic businesses concentrated in the trades, especially agriculture and construction,” Javier Palomarez, chief executive officer of the U.S. Hispanic Chamber of Commerce said in the article. “Today, we have businesses of all sizes in every industry and every corner of the country.”
Asked what the Hispanic Chamber of Commerce is doing to help promote Hispanic-owned businesses, he said the group is focusing on commerce, entrepreneurship and job creation.
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