Most frequent questions and answers
Shop Latino Day is a day dedicated to supporting Latino-owned businesses (LOBs) and highlighting the significant contributions Latinos make to the U.S. economy.
Shop Latino Day will take place on Saturday, September 14, 2019, helping kick-off a month of Hispanic homage.
Visit www.shoplatino.com to learn of the different ways to show up for the Latino business community. You can become an official Shop Latino partner, sign-up to be a part of the Shop Latino Business Network, pledge to participate, and nominate a Latino business for Shop Latino to spotlight.
With the future of the United States directly tied to the economic well-being of nearly one-fifth of the population — we all have a stake in ensuring their success and that every American has equal access to opportunity, regardless of race, skin color, economic status, address, or educational attainment.
- The economic contribution of Latinos to the U.S. economy is equivalent to a GDP of $2.13 trillion. If compared to the GDPs of other countries, it would rank as the 7th largest GDP in the world (larger than the GDP of India).
- By 2020, the Latino economic contribution will account for 12.7 percent of the country’s total GDP—and fuel nearly a quarter of all US GDP growth.
- Latinos drive $700 billion into the U.S. economy annually.
- Latino consumers currently represent $1.7 trillion in buying power.
- LOBs represent 13% of all business.
- Non-Hispanic white new businesses creation is in decline.
- Latino entrepreneurs are starting businesses at a faster rate than any other group.
- Latinos start businesses at 2 times the rate of the general population.
- 1 in 4 new businesses are Latino-owned.
- There are 3.3M LOBs, representing 46% growth from 2007 to 2012
- 287K LOBs have paid employees
- LOB’s generate $474 billion annually
- Top industries among LOBs include employment services, warehousing and storage, and management of companies and enterprises.