Page 54 - Latino Boom II

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l a t i n o b o o m I I
According to the “Survey of Business Owners: Hispanic-Owned
Businesses: 2007”, nearly half of all Hispanic-owned businesses (45.8
percent) were owned by people of Mexican descent. Cubans were
owners of 11.1 percent of all Hispanic-owned businesses, followed
by Puerto Ricans at 6.9 percent. The other 34.5 percent of Hispanic-
owned businesses were owned by people of “other” Hispanic origin.
While the vast majority of these businesses had no paid employees,
they still generated over $70 billion in receipts, an increase of 66.6
percent since 2002. Meanwhile, the number of Hispanic-owned
businesses with one hundred or more employees increased by 26.4
percent and generated $74.2 billion in revenues, an increase of 76.6
percent from 2002. Figure 3.29 shows you a breakdown of the largest
industry sectors of Hispanic-owned businesses, according to census
data. For a look at the states where Hispanic businesses have been
growing, see Figure 3.30.
Figure 3.29
Hispanic-Owned Business by Industry