The Maverick Entrepreneur™ Series
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Building a business as a Latino entrepreneur
The importance of Latino entrepreneurs
by Guest Authors at the Bankrate Staff – January 3, 2019, in Credit Cards
Though they face constraints, immigrant Latino entrepreneurs make important contributions to the economy, generating $36.5 billion annually in business income.
According to the U.S. Small Business Administration Office of Advocacy, roughly 1.2 million of the 12.2 million business owners in the United States are immigrant Latinos.
In fact, the Harvard Business Review reported that immigrants from all over the world constitute 15 percent of the general U.S. workforce, but they account for around a quarter of U.S. entrepreneurs. Almost half of the Hispanic-owned companies are owned by women, according to census data.
Eighty-six percent of immigrant-owned firms with at least $1 million in annual revenues are owned by millennials (under age 34) who came to the U.S. as children, according to “Insights” by Stanford Business.
On a larger scale, Latino immigrants are twice as likely as the native-born population to start a small business, according to the United States Hispanic Chamber of Commerce.
Small Business Majority reports that DREAMers don’t shy away from entrepreneurship, either. Those protected under DACA work at small businesses and start their own small businesses in droves… Read complete article CLICK HERE
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