Enterprises launched by Hispanics represent the fastest-growing segment among U.S. small businesses, rising to about 3 million, the U.S. Hispanic Chamber of Commerce says, giving Hispanic policymakers, activists, and corporate executives converging this week in Washington much to discuss.
From 2002 to 2007, for instance, the number of Hispanic-owned companies grew by nearly 44 percent to 2.3 million, and that growth is continuing, as more companies and initiatives, such as the forthcoming ABC-Univision joint venture aimed at English-speaking Latinos, seek to reach the burgeoning Hispanic market.
The purchasing power of U.S. Hispanics, at over $1.2 trillion, is larger than that of all but 13 countries in the world, according to a May report released by the Selig Center for Economic Growth at the University of Georgia. Purchasing power is defined as disposable income, or the total personal income available for spending on goods and services after taxes. READ MORE
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