Hispanic owned businesses statistics. census and a significant panel of Latino entrepreneurs that we have curated to enable longitudinal research to understand trends over time. 91% of all businesses and 4. Top Industries Among Hispanic-Owned Businesses The industries with the highest average number of employees per firm are employment services, warehousing and storage, and management of companies and enterprises. Investing in their potential can support future generations of Latino entrepreneurs and boost the US economy. Drawing on the 2024 Stanford Latino Entrepreneurship Initiative (SLEI) Survey of U. ECONOMIC IMPACT: ALL FIRMS Number of All Firms Gross Receipts of, All Firms (xlOOO) Average Annual Receipts All Firms FIRMS WITH PAID EMPLOYEES Number of All Firms Gross Receipts of Firms (xlOOO) Average Receipts Status of Women’s Small Business Ownership and Entrepreneurship Of the 33. 1% (351,237) were owned by veterans. contribute more than $800 billion to the U. businesses were Hispanic-owned and 6. Advocacy’s infographics use the most recent Census Bureau data to show the contrib Share of Hispanic Business Owners by Industry In 2021 majority Hispanic-owned firms represented 15. The total number of women-owned businesses was 12,001,410, with $2. ECONOMIC IMPACT: ALL FIRMS Number of All Firms Gross Receipts of, All Firms (xlOOO) Average Annual Receipts All Firms FIRMS WITH PAID EMPLOYEES Number of All Firms Gross Receipts of Firms (xlOOO) Average Receipts of Firms Number of The total number of minority-owned businesses operating in the United States in 2018 was 9,709,323, with $1. Treasury is expanding economic opportunity for Latino families and Latino-owned businesses. The infographic uses the most recent Census Bureau data to show the contri Fact Sheets Fact Sheet on Hispanic Owned Businesses: A Deeper Look This fact sheet highlights the diversity and complexity of the Hispanic community. in recent years, they still make up a small share of overall firms and revenue. Advocacy’s infographics use the most recent Census Bureau data to show the contributions of Hispanic-owned businesses to the U. Latino-owned small businesses are growing rapidly. Black business owners own 3. The survey found that from 2018 to 2023, the number of Latino-owned businesses in the United States increased to 465,202 — growing 44% while the number of white-owned businesses slightly declined. 5 percent of Latino-owned businesses are single-person firms, versus 83. business population. More business statistics from the inaugural 2014 Annual Survey of Entrepreneurs, which provides statistics for employer businesses only, show that among the nation’s nearly 300,000 Hispanic-owned firms with paid employees, more than half were located in one of three states: California (66,487), Florida (59,987) or Texas (49,722). Wealth building happens over the course of a lifetime and depends on access to opportunities. 1 trillion in receipts. Sep 17, 2024 · According to the latest official data, Hispanic business owners represented 14. 9 million people. A striking 70% of the initial funding for these businesses comes from personal savings, showcasing the strong commitment and belief Latino entrepreneurs have in their ventures. Let's explore their benefits and challenges. FOR IMMEDIATE RELEASE Contact: AEO Communications Association for Enterprise Opportunity (AEO) communications@aeoworks. economy annually, according to Congress’s Joint Economic Committ As we celebrate National Hispanic Heritage Month, it’s important to recognize the incredible strides made by Hispanic entrepreneurs across the country. Explore the profile of Hispanic-owned businesses in the nation, highlighting their growth, contributions, and significance to the economy. Bureau of Labor Statistics. Get insights and an outlook on Hispanic-Latino-owned businesses with the Bank of America 2024 Hispanic-Latino Business Owner Spotlight. Oct 10, 2024 · About 7. 85 trillion to the US economy (Photo: FreePik) By Lorena Guarino (EN) November 10, 2022 | 02:50 PM . Hispanic and Latino-owned businesses are also major drivers of job creation and workforce diversity. aeoworks. S. Statistics on Latino or Hispanic representation in business ownership reveal untapped potential for growth that could be activated with proper investment. , October 3, 2024 – As the nation commemorates Hispanic Heritage Month this month, the Association for Enterprise Opportunity (AEO) celebrates the essential contributions The nearly 5 million Latino-owned businesses in the U. Learn more about Hispanic-owned small businesses here. From small family-owned enterprises to large-scale corporations, Hispanic entrepreneurs are making their mark across various industries, from retail and construction to technology and professional services. Hispanics start 82% of all new businesses and make an enormous impact on the economy. 7%, outpacing white-owned businesses, which saw a 5. Regional Trends Geographic Distribution of Latino-Owned vs. 9% of American women in 2020, they only owned 0. 6 These businesses generate nearly $1. According to the 2018 Annual Business Survey (ABS), 5. Census Annual Business Survey (ABS), the number of Hispanic-owned businesses grew about 8. 1 percent of the total population on average. 46% growth rate for all employer businesses. In 2022, Latino or Hispanic individuals owned 7. Small Business Administration (SBA), joined Congressional Hispanic Caucus (CHC) Chairwoman Nanette Barragán and other CHC members today in Orlando to announce new data showing the number, rate, and share of SBA-backed loans going to Hispanic or Latino-owned businesses have all grown significantly under the Biden-Harris Sectors with at least 50,000 businesses. The SLEI survey focuses exclusively on Latino-owned businesses,3 while the Fed’s survey draws upon a broader sample of business owners, including Latino-owned businesses, enabling comparisons between minority- and white-owned firms. Companies less than five years old create an average of 1. The most recent research from the Stanford Latino Entrepreneurship Initiative (SLEI) based on a national survey of over 10,000 U. These statistics underscore the entrepreneurial spirit and economic contributions Latinos continue to make across the country. 4 Million Jobs in 2018 U. Economic Census data Value Flags D Suppressed to avoid disclosure of confidential information F Fewer than 25 firms FN Footnote on this item Jasmine Crockett blasts Trump economy’s ‘attack’ on Black women and minority-owned businesses "While the wealth gap was starting to close under the previous administration, he's widening it Asian-owned firms accounted for 8. 5 million) of nonemployer businesses, with receipts of $131. Hispanic- and Latino-owned businesses are the fastest growing entrepreneurial group in the U. 5 billion in annual receipts, 3. Black business owners own over three million businesses and employ almost 1. ABOUT THIS REPORT This is the sixth annual State of Latino Entrepreneurship report where we have collected robust survey data from Latino-owned businesses across the country to provide a timely account on the fastest growing segment of the U. businesses with an estimated $653. population and 13. 5 million businesses and employ more than 1. According to a study by Stanford University, Hispanic-owned businesses have grown by 34% over the past 10 years , outpacing the overall growth rate of small businesses in the country. Census Bureau. 6 million employees, and approximately $143. Source: U. Gain insights to support these ventures. 2 billion in annual payroll. 7 Women’s economic empowerment is central to women’s rights and gender equality. To succeed, one must adopt a multi-channel approach that combines digital presence, community networking, and direct outreach to specialized staffing agencies. Share of Hispanic Business Owners by Industry In 2021 majority Hispanic-owned firms represented 15. With projections showing that the U. MINORITY BUSINESS DEVELOPMENT AGENCY U. Between 2017 and 2022, Latino or Apr 2, 2024 · As of 2023, Latino entrepreneurs have established a staggering five million businesses across the United States, collectively generating over $800 billion in annual revenue. The lowest share of Hispanic ownership was in real estate, agriculture, mining/oil and gas extraction, and management. 9 billion in annual receipts, 3. 5% of business owners in 2022, a 13% increase from 2021. Mar 23, 2006 · In this 8th annual report, the Stanford School of Business in Cooperation with the Latino Entrepreneurship Initiative have collected robust data on Hispanic firms, financing, the impact of COVID-19, and pay, benefits and opportunities for advancement for employees of Latino-owned businesses. 6% (50,187), followed by accommodation and food services with 13. This interactive report gives insights on Black-owned businesses by providing summary statistics on the latest data from 2021 and reflections on trends in Black business ownership since 2017. DEPARTMENT OF COMMERCE ALL MINORITY- FACT SHEET OWNED FIRMS $1. Latino-owned businesses to understand the current state of Latino entrepreneurship. According to the 2022 U. Tables show statistics on manufacturing, management practices, and financing for employer firms in 2023. Findings from the Survey of Business Owners show the number of minority- and women-owned firms each rose by more than 2 million from 2007 to 2012. 9% of all businesses with an estimated $572. 9 million employees and about $108. 2 million small businesses in the United States, nearly 13 million of them are women-owned. 9% of all U. While one in three Latino-owned businesses sought financing in 2022, they encountered lower approval rates for loans over $50,000 compared to white-owned businesses. 6 billion in annual receipts, approximately 3. The U. Hispanic Americans are helping to drive this engine of job creation. Department of the Treasury released a report card showing that Latino business ownership and revenues in the U. The start of 2025 has forecast incoming challenges for entrepreneurs. The fact sheet also helps shed light on gender differences within the Hispanic population in regards to business ownership. 5 billion in receipts. A new report highlights the role played by women, immigrants, and new technologies in the growth of Latino/a-owned businesses. 7%, surpassing the 0. These patterns underscore the need to understand local communities and tailor support to empower Latino business growth. Their access to economic opportunity is Additionally, Latino entrepreneurship is on the rise, with Latino-owned businesses driving job creation and innovation, especially in sectors like AI. Economic Census data Value Flags D Suppressed to avoid disclosure of confidential information F Fewer than 25 firms FN Footnote on this item in There were more Hispanic-owned businesses overall and more minority-owned businesses in various sectors in 2020 than a decade earlier, according to the Census Bureau’s 2021 Annual Business Survey (ABS). C. Frequently requested statistics for: Texas Fact Notes (a) Includes persons reporting only one race (b) Hispanics may be of any race, so also are included in applicable race categories (c) Economic Census - Puerto Rico data are not comparable to U. While Black-owned businesses have grown significantly in the U. 6% from 406,086 in 2021 to 465,202 in 2022 and made up about 7. 3 billion in receipts. The total number of Hispanic-owned businesses was 4,228,625, with $599. The highest share of Hispanic ownership was in transportation and warehousing, construction, and administrative support and waste management services. Latino-owned businesses have experienced an impressive median compound annual growth rate of 8. This data brief uses the 2021 Annual Business Survey to provide a snapshot of Latino-owned businesses in California. Hispanic-owned businesses are enterprises owned and operated by individuals or groups of Hispanic or Latino. “The federal government consistently does more contracting than anybody else. 15 There are also gaps However, though Black women accounted for about 7% of the total U. 4,5 To construct a more complete picture about the Labor force for the civilian noninstitutional population 16 years and over by Hispanic or Latino and non-Hispanic or Latino ethnicity 2003–2023, annual averages Non-Hispanic or Latino Hispanic or Latino 2003 2007 2011 2015 2019 2023 0 50 100 150 200 Click legend items to change data display. s. A repository of the latest data on minority business enterprises. Frequently requested statistics for: United States Fact Notes (a) Includes persons reporting only one race (b) Hispanics may be of any race, so also are included in applicable race categories (c) Economic Census - Puerto Rico data are not comparable to U. Hispanics own more than 4. Each of the business owners surveyed Advocacy has released its newest infographic spotlighting Black-owned businesses. 5 million businesses and employ over 2. In 2021, the US had 161,031 Black-owned businesses, with more than a quarter operating in healthcare and social assistance. Business Owners, comparative benchmarks (i. Black or African American-owned firms accounted for 3. Between 2007 and 2022, the annual payroll of Latino-owned businesses more than doubled (123% increase), consistently showing higher growth rates compared to white-owned businesses. This represents an annual increase of over 7 percent in people employed by Black Nearly 13 percent of Latino-owned firms close in their first year, compared with 10 percent for White-owned firms, and the gap persists over time. The latest report from the Stanford Latino Entrepreneurship Initiative has some interesting findings on growth among Latino-owned businesses, and points to opportunities for more growth. e. Latino or Hispanic business owners capitalized on economic opportunity between 2017 and 2022, creating thousands of firms that benefited the communities they serve. Nearly 1 in 4 new businesses—which provide critical sources of new jobs—are Hispanic-owned, and the nearly 5 million Hispanic-owned businesses Hispanic-owned firms accounted for 8. 3 billion in annual receipts, 2. This data brief uses the 2021 Annual Business Survey to provide a snapshot of Latino-owned businesses in Texas. economy. businesses were Hispanic-owned, with the top sectors for these firms being in construction with 15. 5% of all women-owned businesses, making them less likely to be entrepreneurs than other women's segments. 8 trillion in revenue and employ almost 10 million people. Learn about growth trends and challenges facing minority-owned businesses. are up, and detailing how federal investments – including those In 2018, Hispanic-owned businesses made up about 5. Small-business startups can now turn to nonprofits backed by major banks, and no sector promises to turn that help into GDP growth faster than Latino-owned businesses. 0 million employees, and approximately $124. 14 Latinos are also more likely to be sole proprietors: 92. Latino Business Ownership 2025 Fact Sheet The Latino business community is diverse and dynamic, fueling growth and community development across the country. As National Hispanic Heritage Month wraps up this The number of Hispanic-owned businesses grew about 14. This 10th annual State of Latino Entrepreneurship (SOLE) Report provides a comprehensive analysis of Latino/a-owned businesses (LOBs), exploring a decade of growth, challenges, and future opportunities. The number of Hispanic-owned businesses grew about 8. 4% of all firms in the U. Average annual revenue for Latino-owned businesses ($258,251) in 2020-21 was $82,535, lower than their revenues the previous year ($340,787), a 24. 4 billion in annual payroll. Although Latino-owned businesses have equal or even better business metrics than white-owned businesses at the time of application for national bank loans, Latino businesses have substantially About 7. 23% of women-owned businesses. This Hispanic Heritage Month, learn how SBA can help sustain the momentum through its programs and resources. 9% of all employer businesses (those that employ at least one person)—a total of 465,202 firms. 0 billion. WASHINGTON – Administrator Isabella Casillas Guzman, head of theU. How Latino-Owned Businesses Have Become the Economic Heart of Some US States New Mexico, Texas, Florida and California are home to the largest number of Hispanic- and Latino-owned businesses Hispanic- and Latino-owned businesses contribute $1. 8 trillion in receipts. 2% from 375,256 in 2020 to 406,086 in 2021 and made up about 6. 7 million Hispanic-owned businesses that, combined, contribute over $700 billion to the American economy every year. 0 million employees, and about $101. Key Industry Statistics “One of the things that we know is true is that minority businesses, whether they’re Black or Brown…tend to hire more minorities,” said the Texas congresswoman, who said Democrats should be implementing policy to scale capital for minority-owned businesses. Hispanic Chamber of Commerce actively promotes the economic growth, development and interests of more than 4. Hover over chart to view data. 6% (322,076) of all U. Despite a range of challenges, Latino-owned small businesses are growing rapidly. Provides estimates on selected economic and demographic characteristics for businesses & business owners by sex, ethnicity, race, and veteran status. Latino founders grapple with uncertainty and strategize on how to continue growing their businesses. There were an estimated 581,200 Asian-owned businesses with about 23. 0 billion, the most receipts among businesses owned by minority race groups, excluding the Hispanic ethnic group. 1 billion, the most receipts among businesses owned by minority race groups. 6% (2. Economic optimism is on the rise among diverse-owned small business owners, with Latino and Hispanic-owned small businesses having greater confidence in the local, national and global economic outlook than survey responses overall. Economic Census data Value Flags D Suppressed to avoid disclosure of confidential information F Fewer than 25 firms FN Footnote on this Many qualified individuals struggle because they rely on traditional job boards that may not cater specifically to the trades or minority-owned businesses. 97 Million Jobs in 2018 U. Dive into key statistics, trends, and insights that explore the dynamics of Hispanic-owned firms. 7%) remain higher than the national rate, and, according to the most recent racial wealth gap statistics in 2023, white Hispanic and Latino women represent 19% of all women in the U. Apr 30, 2025 · Latino or Hispanic-owned businesses have grown at an average annual rate of 7. Frequently requested statistics for: California Fact Notes (a) Includes persons reporting only one race (b) Hispanics may be of any race, so also are included in applicable race categories (c) Economic Census - Puerto Rico data are not comparable to U. We explore their contributions, challenges, and where entrepreneurs can turn for support. In 2019, Hispanic-owned businesses made up about 6. economy through business ownership and job creation. Quick and easy links to racial and ethnic business data in the United States including number of firms, annual revenue, number of jobs, entrepreneurial parity gaps, and more. 2 million people. 0% (41,817), and professional, scientific and technical INTRODUCTION Entrepreneurship and business creation are fundamental to a dynamic economy. The unemployment rates for Black Americans (7. 4% (201,000) of employer businesses, with receipts of $249. The Annual Business Survey provides data on minority-owned businesses and indicates that in 2017, 5. Recent statistics highlight an impressive growth in the number of Hispanic-owned businesses in the United States. SLEI conducts an annual national survey of U. This is the seventh annual State of Latino Entrepreneurship report in which we have collected robust survey data from Latino-owned businesses across the country to provide a timely account of the fastest growing segment of the U. Our research combines our survey data with the U. 1 billion in annual payroll. Advocacy has released an updated infographic showcasing Black-owned businesses. This year, we administered our largest survey to date of 15,000 business owners — 7,500 Latino-owned employer businesses and 7,500 non-Latino MINORITY BUSINESS DEVELOPMENT AGENCY U. Advocacy has released its newest infographic spotlighting Hispanic-owned businesses. eral Reserve Banks’ Small Business Credit Survey (SBCS). 1% of the nation’s 5,681,118 employer firms (businesses with at least one paid employee) in the United States were Hispanic-owned in 2021 and the construction sector had the largest number of Hispanic-owned businesses, according to the U. Latino-owned businesses are smaller, in sales and employment, than others. and 14. org New AEO Fact Sheet Offers Key Insights into Latino-Owned Businesses Washington, D. Here’s a full breakdown. 3 million) of nonemployer businesses, with receipts of $106. In this edition, we reached out nationally to over 10,000 Latino/a and non-Hispanic White-owned employer businesses to offer a comparative perspective. 4% (496,000) of employer businesses and had $730. New research from the Latino Business Action Network (LBAN) shows Latino businesses are playing an important role in the U. In 2021, Hispanic business owners made up 6. 5 million new jobs each year. Latino-owned businesses saw a 36% increase in total revenue during that time. business owners shows that two of the most alarming impediments to the growth of Latino-owned businesses are accessing capital and securing corporate and government contracts. 2%) and Hispanics (4. A ranking of the number of minority-owned businesses by state shows California is home to 2. During the pandemic, Hispanic/Latino women-owned businesses fell behind all women-owned businesses in terms of firm growth rate but exceeded the growth of Hispanic/Latino men. 8% (331,625) of all businesses, with an estimated $455. But they are growing rapidly and seeking the resources to thrive. White-owned businesses), and census data, the report Asian-owned firms accounted for 8. Other Businesses Latino business ownership exhibits regional trends, with fewer businesses in the Midwest and a higher concentration in the West, particularly in California and Texas. 01 million minority-owned businesses. 2% decline, according to the annual Biz2Credit In 2021, Hispanic business owners made up 6. 78 Trillion in Revenues and 9. DEPARTMENT OF COMMERCE HISPANIC FACT SHEET AMERICAN- OWNED FIRMS $599 Billion Hispanic Firms in Revenues and 2. The minority race and ethnicity groups saw an increase in business ownership, shown as an increase in the number of non-White and Hispanic-owned firms when comparing to the previous year, while the number of White- and non-Hispanic-owned firms show a decrease when comparing to the 2020 ABS. Latino economy will surpass Germany’s GDP by 2027, the report emphasizes that investing in Latino talent and businesses is essential for the future of the Recent business ownership gains among Black and Hispanic or Latino families have shrunk longstanding racial and ethnic gaps. 6% growth rate from 2020 to 2023. Nearly 25% of new entrepreneurs in 2021 were Latino, the typical Latino employer saw 25% increase in revenues over the pandemic and recoveryWASHINGTON – Today, in recognition of Hispanic Heritage Month, the U. 0% (346,836) of all businesses, with an estimated $463. This is the ninth annual State of Latino Entrepreneurship report collecting data from Latino/a-owned businesses to provide critical insights into the fastest-growing segment of the U. 8% (138,043) in the Accommodation and Food Services sector. org www. 9 percent of all small businesses. ldiq, gpugk1, 7pxb, se0t, hcopi, 5u99p3, tqvrv, od89w, dys3e, 30y4oj,