Hispanic small biz growth

      Hispanic-owned small businesses are the fastest growing small business sector in the U.S., according to a new report from the Joint Economic Committee, Congressional Hispanic Caucus and the House Small Business Committee..

      Nearly 5 million Hispanic-owned businesses contribute over $800 billion to the U.S. economy. In the decade before the pandemic, the number of Hispanic business owners increased 34% compared to a 1% rise for non-Hispanic business owners. Nearly one in four new businesses are created by Hispanic Americans.

      However, less than a quarter of Hispanic-owned businesses receive loans of over $100,000 from national banks.

      And in March 2020, more than 80% of Hispanic business owners reported a large negative impact from the pandemic.

More Information:
Joint Committee Report: https://bit.ly/3I4doNS

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