CHICAGO–It’s no secret that Hispanics contribute significantly to the US economy, but a new report on Hispanic-owned businesses in Illinois shows Hispanic businesses face unique challenges, but have the potential to generate an additional $67 billion in revenues and create 200,000 jobs for Illinois residents.
The Report, The State of Hispanic-Owned Businesses in Illinois: Untapped Economic & Job Creation Potential, was conducted by DePaul University’s Driehaus College of Business in partnership with the Illinois Hispanic Chamber of Commerce.
SMALL BUT GROWING
While there’s significant potential, the reality is that Hispanic-owned businesses are small. The report shows that Hispanic-owned businesses currently employ 50 percent less people than other businesses in Illinois. They earn less too, on average about $182,747 in business revenue compared with $1,370,694 for all other Illinois businesses. And Hispanic businesses comprise a small percentage, only five percent, of all companies in Illinois. READ MORE
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