As National Hispanic Heritage Month wraps up this coming week, let’s take a look at how Hispanic small business owners and entrepreneurs are doing. Overall, based on various sources, Hispanic-owned businesses are growing fast, seeking financial fuel for that growth, yet still smaller in size than non-Hispanic-owned businesses.
Smaller Sales But …
Nearly one-fifth of Hispanic-owned firms (18%) employ more than 10 people, according to the Census Bureau’s Annual Business Survey (ABS). That’s not much different from the share among non-Hispanic-owned businesses (21%). Yet among all small businesses (those with 1 to 499 employees), non-Hispanic-owned businesses are larger in sales (85% larger) and payroll (60%) per