Hispanic-owned businesses are on a roll, reveals a new study. According to the Biz2Credit Hispanic Small Business Credit Study, Hispanic-owned companies had average annual revenues of $202,327 in 2016, up from $68,540 the previous year.
The number of loan applications by Latino entrepreneurs made through Biz2Credit.com grew by 68.7 percent in the past 12 months.
Average net income for Hispanic businesses grew substantially, jumping from an average of $50,205 in 2015 to $132,693 in 2016. In comparison, non-Hispanic business owners’ average annual net incomes were approximately 8 percent lower in 2016. READ MORE AT SMALL BUSINESS TRENDS
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