Hispanic Businesses Grow at Twice National Average and Contribute $668 Billion Annually to the U.S. Economy

*The U.S. Hispanic Chamber of Commerce is doing their annual shindig in Miami this week and they’re reporting good news concerning Latino businesses in the U.S. VL

By Business Wire (2.5 minute read)

IAMI–(BUSINESS WIRE)–(USHCC NATIONAL CONVENTION) – October 10, 2016 – There will be 4.23 million Hispanic-owned businesses projected this year – double the growth rate of all U.S. firms, according to a study released today by Geoscape, a leading provider of business intelligence technology, data and analytics.

Published in partnership with the U.S. Hispanic Chamber of Commerce, the Hispanics in Business 2016 study details the growth of Hispanic business ownership, high levels of entrepreneurship and contributions to the U.S. economy. The results were formally unveiled at The USHCC National Convention, taking place this week in Miami.

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Rapid Growth
Hispanic-owned businesses have grown 27.5 percent since 2012, double the growth rate of all businesses in the U.S (12.3 percent). The fastest-growing states for Hispanic entrepreneurial activity continue to be California, Texas and Florida, though New York, Georgia, Arizona and Illinois have also experienced substantial business growth. READ MORE