New survey shows US Latinas in business creating jobs and wealth

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Hispanic Women-Owned Businesses NWBC 2012 Survey of Business Owners

We did it again! Although we knew that Latinas were the fastest growing demographic opening businesses in the USA, nothing better than facts to drool over! According to the National Women’s Business Council (NWBC) 2012 Survey of Business Owners, Latinas are leading the ranks with 1.5M businesses owned, and these were the years of the Great Recession! Latinas almost tripled the national rates of women opening businesses at 87.3% compared to all women at 27.5% between 2007 and 2012.

Here are the facts:

As of 2012:

  • There are 1,475,829 Hispanic women-owned businesses1 in the United States. This reflects an 87.3% increase since 2007. In comparison, Hispanic men-owned businesses grew at 39.3%since 2007.
  • Women-owned firms make up 44.4%of all Hispanic non-farm and non-publicly-held businesses.
  • Hispanic women own 14.9%of all women-owned firms.
  • Hispanic women-owned firms generated a total of $83.6 billion in receipts, an increase of 50.3%since 2007.
  • 95.4%of these firms are non-employer firms, with average receipts of $19,537.
  • The remaining 4.6%of the firms have paid employees, employing 502,008 people in addition to the owners, with an annual payroll of $14 billion. These employer firms have average receipts of $824,301.

 

BY GEOGRAPHY:

 

States with the highest number of Hispanic women-owned firms Hispanic women-owned employer firms by numbers employed Highest number of Hispanic women-owned employer firms by average receipts
 

1. California (366,997 firms)

2. Texas (290.997 firms)

3. Florida (263,163 firms)

4. New York (137,400 firms)

5. Arizona (41,843 firms)

 

 

1. New York (502,008)

2. Arizona (137,814)

3. New Jersey (84,875)

4. Illinois (72,197)

5. Georgia (35,794)

 

 

1. Kansas ($2,056,502)

2. Connecticut ($1,799,482)

3. Alaska ($1,705,514)

4. Massachusetts ($1,580,958)

5. Indiana ($1,327,868)

 

 

 

BY INDUSTRY:

The top industries with the highest representation of Hispanic women-owned businesses include: The industries with the lowest representation of Hispanic women-owned businesses include:
 

1. Administrative Support and Waste Management and Remediation Services (310,286 firms, 21.02%)

2. Other Services (except Public Administration)2 (300,324 firms, 20.35%)

3. Health Care and Social Assistance (282,157 firms, 19.12%)

4. Retail Trade (126,797 firms, 8.59%)

5. Professional, Scientific, and Technical Services (119,117 firms 8.07%)

 

 

1. Management Companies and Enterprises (49 firms, less than .01%)

2. Mining, Quarrying, and Oil and Gas Extraction (812 firms, .06%)

3. Utilities (1,132 firms, .08%)

4. Agriculture, Forestry, Fishing and Hunting (4,468 firms, .30%)

5. Information (10,935, .74%)

 

 

 

1Women-owned businesses, as defined by the US Census, are businesses in which women own 51 percent or more of the equity, interest, or stock of the business. Men-owned businesses are defined as men owning 51 percent or more of the equity, interest, or stock of the business. Equally men-/women-owned businesses those in which the equity, interest, or stock of the business is shared 50-50 among men and women owners. Publicly held, foreign-owned, and non-profit businesses are not included in this data.2 As an industry classification, Other Services (except Public Administration) is defined as businesses that provide services not specifically provided for elsewhere in the classification system. These businesses are primarily engaged in activities such as equipment and machinery repairing, promoting or administering religious activities, grantmaking, advocacy, and providing dry-cleaning and laundry services, personal care services, death care services, pet care services, photo-finishing services, temporary parking services, and dating services.

 

About Susana G Baumann

Award-winning journalist, author, multicultural expert, public speaker, small business advocate and the Editor-in-Chief of LatinasinBusiness.us. Susana is an Argentinean immigrant who started her own small business over 20 years ago. Now, through her new digital platform and social media channels, she advocates for the economic empowerment of Latinas in the United States.
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