8602382499?profile=originalHispanic-owned businesses are a growing piece of the Texas economy, but they still lag behind mainstream businesses in revenue, employment and payroll size, according to a new University of Texas survey.

The report, titled "The Survey of Hispanic Businesses with Paid Employees in Texas," was directed by the Bureau of Business Research of the IC2 Institute at The University of Texas at Austin. It surveyed more than 3,500 Hispanic-owned businesses last year in Texas. The survey is being released to the public today.

Hispanic-owned businesses grew by more than 40 percent in Texas from 2002-2007, from 319,340 to 447,589, according to the report, which cited a 2007 Census study, the latest numbers that were available.

Those businesses accounted for more than 20 percent of all state firms, second to non-Hispanic white-owned companies, which were 62 percent of all the business in Texas.

But, as with national trends, Hispanic-owned businesses lagged behind their mainstream counterparts in several areas, including average gross receipts (about $138,287 compared to $546,228 for mainstream employer firms), average payroll (about $240,518 compared to $473,134) and average employment (9.6 employees for Hispanic firms vs. 13.5 employees for mainstream firms). READ MORE

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