Latino Business in the U.S.
LATINOS IN THE U.S.
- Over 55 million Hispanics comprise of 17.3% of the U.S. population
- There are more than 3 million Latino-owned businesses in the U.S. Up over 40% since 2007
- Latinos opened 86% of all the new businesses created in the U.S. between 2007 and 2012
LATINO OWNED BUSINESSES HAVE TO OVERCOME MORE…
- 50% of Latino-owned businesses fail in their first year
- 20% of Latino-owned businesses fail in their fifth year
- More than forty (40%) of non– citizen Latino business owners, all of whom are here legally are rejected when they apply for their first business loans.
CULTURAL BARRIERS, ACCESS, INFORMATION, AND EDUCATION ARE LIMITED
- Most Latino business owners have a limited understanding of the American business process
- There are limited opportunities for Latino business owners to engage viable financing or business development services
- Latinos lack a unified representation in the business community under a common mission and vision
- 99% of Latino-owned businesses DO NOT receive venture capital funding. Many don’t even know how to access such resources
- There is limited access to educational, technical and business development resources that help Latino owned businesses thrive
- Lack of marketing and branding opportunities where it matters
- Lack of common interest from Latino owned business leaders to support and celebrate our heritage and culture or investment in their communities