The South Atlantic region in the U.S., which includes Florida, is expected to be one of the fastest growing regions for Hispanic-owned small businesses through the end of this year, according to a study released this week.
The region, which spans from Maryland through Florida along the Atlantic coast, was home to 570,200 Hispanic-owned businesses in 2007, according to the report published by Geoscape, a firm specializing in multicultural business consulting, and the U.S. Hispanic Chamber of Commerce.
That number is expected to increase to 866,000 by the end of 2013, growth of more than 52 percent, according to the report.
That’s the second highest rate of growth of the 10 regions identified by Geoscape, behind the East South Central region that encompasses Kentucky, Tennessee, Alabama and Mississippi. The growth there is projected at 59 percent.
Bernal Alvarez, owner of BLAST Auto Service in Cape Coral, said he has witnessed the growth locally since opening his business more than 22 years ago. READ MORE
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