Question of the Day [Hispanic & Latinx Heritage Month]: Of all new businesses, how many are Hispanic-owned?
For every new business opened in the U.S., how many are Hispanic-owned?
Answer: About 1 in 4
- What do you see as the pros and cons of starting and running your own business?
- Would you prefer being an employee of another person’s business or owning your own? Why?
- What Hispanic-owned businesses have you visited in your community?
Behind the numbers (Small Business Administration):
- Nearly one in four new businesses is Hispanic-owned.
- The nearly 5 million Hispanic-owned businesses in the United States contribute more than $800 billion to the American economy annually.
- There are over 375,000 Hispanic-owned, employer businesses located across all 50 states and the District of Columbia. These enterprises employ at least one employee other than the owner.
- Hispanic employer businesses employ about 1 million workers, with more than $100 billion in annual payroll. The number of Hispanic-owned businesses that employ at least one employee other than the owner increased by 14% between 2012 and 2017 — more than twice as fast as the national average.
- In the decade preceding the pandemic, the number of Hispanic business owners increased 34% compared to an increase of just 1% among non-Hispanic business owners.
Celebrate Hispanic Heritage Month with us, check out these events and resources!
The Entrepreneurship mini-unit is packed with lessons and resources to expose your students to the world of business.