Latino-owned small and medium businesses (SMBs) are growing rapidly, according to a new McKinsey & Co. report. Latinos start more businesses per capita than any other U.S. racial or ethnic group. In 2023, they created 36% of new businesses in the states—nearly double their representation in the overall population. According to the U.S. Census Bureau,
Still, Latino-owned SMBs comprise only 7% of total small-business firms with employees, and 17% of non-employer firms (which have no employees and are mostly sole proprietorships). READ MORE AT CMM
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