Entrepreneurial activity in the United States is in a historic slump, according to Gallup and the Ewing Marion Kauffman Foundation for Entrepreneurship. But you’d never know it by looking at the data on Latina entrepreneurs. Latinas are the fastest growing cohort in the U.S. women’s entrepreneurial arena.
According to The State of Women-Owned Businesses 2014, a report commissioned by American Express OPEN, the number of Latina-owned firms has more than tripled since 1997 (up 206 percent), their employment has risen 85 percent and their revenues have more than doubled (up 160 percent).
By contrast, there’s been just a 68 percent growth in the number of all women-owned firms in America during that time, an 11 percent growth in overall employment and a 72 percent growth in revenue.
A Million Latina-Run Businesses
The 2014 report also notes that Latina entrepreneurs in the U.S. now run an estimated 1,033,100 businesses (up from 540,0745 in 2002), making them second to African American women (1,237,900 businesses) among all female minority-owned firms. The Latina-run businesses generate $71.1 billion in revenue and employ 433,600 workers in addition to their owners. READ MORE AT NEW AMERICA MEDIA
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