US Hispanic businesses reach staggering numbers: 4.37 million and counting

Increase in Hispanic women-owned businesses

A group of Latina entrepreneurs at the 2016 Pitch your Business Competition (L to R: Lu Camarena Mesulam, Nelly Reyes, Susana Salazar, Susana G Baumann, Maggie Casera, Jennagloria Pacheco, Hipatia Lopez)

Sales from Hispanic-owned businesses contribute $709 billion to the U.S. economy and between 2012 and 2017, 27.4 percent of the growth in all businesses in the U.S. can be attributed to Hispanic-owned businesses.

Not only are Hispanic businesses increasing, but businesses owned by Hispanic women are also rising in number. Between 2007 and 2012, the number of female Hispanic-owned businesses grew 87 percent, from 800,000 to 1.5 million. This is the largest increase in female businesses of any race or ethnicity.

“Throughout the United States, Hispanic entrepreneurs play a crucial role in supporting the growth of local communities,” said Javier Palomarez, President & CEO of the United States Hispanic Chamber of Commerce. “They create American jobs, maintain our leadership in global markets, and contribute toward the mutual prosperity that makes America’s economy the greatest in the world.”