September 15th marked the beginning of Hispanic Heritage Month. With a population that has reached over 50 million, Hispanics are the fastest growing class of citizens in the United States. Accordingly, they also represent the most significant growth pattern of small business owners in the country. Hispanic-owned businesses comprised 59.8 % of all businesses in El Paso, followed by San Antonio, (39.4%), Houston (23.3%), Albuquerque, N.M. (23.1%) and Los Angeles (21%).
A 2010 survey of business owners conducted by the Census Bureau found that Hispanic-owned companies comprise 2.3 million of the 27.1 million U.S. businesses. Further, Hispanic-owned businesses have increased by 43.7% since 2002. Hispanic-owned businesses generated $345.2 billion in sales in 2007, up 55.5% when compared with 2002, while the number of Hispanic-owned companies with receipts of $1 million or more increased 51.6 percent -- from 29,168 to 44,206 businesses -- between 2002 and 2007. READ MORE
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