U.S. economy being fueled by success of Hispanic-owned business

*How’s this for a story of transformation: According to a Pew Report the average white household is worth 10 times more than a Latino household. But, there are presently 3 million Latino-owned businesses in the U.S., and that number is growing. Households with small businesses are 80 percent more likely to to earn $100K. Education, fair lending practices, open internet, and yes, immigration will fuel this transformation. VL

By Brian Llenas, Fox News Latino

The number of Hispanic-owned businesses in New York City has nearly doubled since the late 1990s, to more than 140,000. About one in seven businesses in the Big Apple are now owned by Latinos.

The success stories extend beyond New York. There are more than 3 million Latino-owned businesses in the U.S., a number up more than 40 percent since 2007, according to a Hispanics in Business 2014 study, released by Geoscape and published in partnership with the U.S. Hispanic Chamber of Commerce.

Financial experts say Hispanics are starting businesses at three times the national rate, fueling the economy, empowering Hispanic families and all while changing main street USA.

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