Importance of Latino Business for the U.S.
Latinos are changing the landscape of our country and our economy. Despite being the driving force behind business growth in the past 40 years, the Latino business community and the Latino community narrative continues to face severe misconceptions and challenges. That is why it’s crucial for Latinos and allied communities to continue to come together to celebrate our contributions, and uplift the many success stories of Latinos leading in their communities and across the country.
Facts about Latino owned businesses and the Latino community:
- Latino entrepreneurs are starting businesses faster than any other group
- Latino owned businesses drive $700 billion into the U.S. economy annually, according to a recent Stanford study
- Unidos US projects that Hispanics, the youngest and largest minority in America, will account for about 20% of the U.S. workforce in five years
- With a population expected to almost double to 111 million by 2060, Latino consumers currently represent $1.7 trillion in buying power and expected to continue growing over the next two decades