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Hispanic-Owned Firms to Reach 2 Million in 2004
Spurred by growing affluence among the nation's largest minority population, the number of Hispanic-owned businesses in the United States is expected to reach 2 million and generate revenues totaling $273.81 billion in 2004. HispanTelligenceŽ analysis of current and historical data indicates the increasingly vital role of Hispanic-owned firms in U.S. economic development as the strong and developing market continues to gain access to the economic and social mainstream.
The HispanTelligenceŽ review of data from the U.S. Economic Census Survey of Minority-Owned Business Enterprises found that the number of Hispanic-owned firms soared 76 percent from 1987 to 1992. While growth slowed to 30 percent from 1992 to 1997, the number of Hispanic-owned businesses in the United States topped 1 million for the first time, increasing from 862,605 to 1,121,433. Projections of Hispanic-owned businesses and revenues to 2010 are also included in this report.
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