Latinos are three times as likely as the general population to start their own businesses, but cultural and economic factors have hampered the growth of Latino-owned businesses at a cost of trillions of dollars.
A report by the Stanford Latino Entrepreneurship Initiative (SLEI) found the lost growth amounted to a $1.38 trillion “opportunity gap” in 2012 alone.
Minority business advocates are scrambling to identify the causes and fill the void. Latinos tend to open businesses with “personal motivations” rather than as a result of identifying market opportunities. Because of this, Latinos are less likely to pursue capitalization opportunities that put full ownership at risk, limiting their prospects for growth. READ MORE AT THE HILL