A New Reality in American Business
News There are currently an estimated 3.1 million Hispanic-owned businesses across the country. With a start-up rate that is two times that of the national average, the number continues to climb.
In celebration of Hispanic Heritage Month, the United States Hispanic Chamber of Commerce (USHCC) pays tribute to the millions of Hispanic business men and women who play a critical role in broadening the prosperity of our country. While the USHCC advocates on behalf of business owners who happen to be of Hispanic descent, we are first and foremost American businesses; every tax bill we pay, every job we create, every product we manufacture and every service we provide goes to benefit the American economy.
The Latina entrepreneur
The most inspiring stories spring from the nation’s fastest growing business segment. Evidence points to a new era: the era of the Latina entrepreneur. Hispanic businesswomen have a start-up rate six times that of the national average — far surpassing their non-Hispanic counterparts. Over the past decade, there has been approximately 200 percent growth in Latina-owned business, a sign of enormous and unprecedented initiative by any measure — especially when compared to the 55 percent increase made by their non-Hispanic female colleagues. Today, our nation’s nearly one million Latina-owned businesses are breaking outdated stereotypes and are setting new standards of performance in major industries, including finance, media, technology and healthcare.
"Over the past decade, there has been approximately 200 percent growth in Latina-owned business, a sign of enormous and unprecedented initiative by any measure."
The Hispanic business community’s strength comes from the diverse talents and the unrivaled entrepreneurial spirit of our business men and women. Whether they arrived to our shores with visions of attaining the American dream, or are first-generation business owners honoring the dreams of their parents; the life stories of these Hispanic entrepreneurs are profound, and serve as a strong modern-day case for America’s claim as the “Land of Opportunity.”
The reality is: immigrant-owned businesses employ two out of every five American workers, which contribute over $775 billion to our nation’s economy, every year. Moreover, 40 percent of America’s Fortune 500 corporations were started by an immigrant or the child of an immigrant. The fact is — immigrants are here to work. The USHCC praises the bipartisan effort our elected leaders are making to repair the nation’s broken immigration system, and has taken the leading role in reminding Americans that comprehensive immigration reform is an economic imperative for our country.
Business built on values
The USHCC believes that America’s core values of hard work, contribution, entrepreneurship, innovation and imagination are foundational to the millions of Hispanic-owned businesses it represents. These business men and women are proud of their Hispanic roots, and even prouder to be Americans.
Our nation’s Hispanic business community is doing everything it can — both in word and in deed — to preserve America’s free market economy and our way of life.