For the last nine years, Santiago and Margarita have run a popular neighborhood eatery for home-style Latino cooking in Philadelphia. Millions of Latino-owned small businesses like theirs are playing an increasingly critical role in rebuilding local economies and bringing vibrancy back to urban and rural neighborhoods. Between 2002 and 2007, the number of Latino-owned small businesses grew to 2.3 million, an increase of 43.7%; non-Latino small businesses grew in number by only 14.5% in the same period.
More recent studies estimate that there are now 3.2 million Latino-owned firms in the U.S. With annual revenues from these businesses projected to increase from $345 billion in 2007 to $486 billion in 2013, this trend is a promising sign for Latino entrepreneurs and their communities. READ MORE
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