12 Stats on the Growth of Hispanic-Owned U.S. Businesses

For companies providing B2B products and services, U.S. Hispanic entrepreneurs are a growing segment that offers increasing opportunities.

Here are the two big numbers you need to know:

  • 2.5x – That’s how much faster Hispanic-owned businesses are growing vs. the average rate of all U.S. firms
  • $668 billion – That’s the estimated total sales receipts for Hispanic-owned businesses in the United States in 2016

Both of those eye-opening figures come from the 2016 Hispanics in Business Report, put together by Geoscape.

And the notable numbers don’t stop there…

10 more significant stats on Hispanic-owned U.S. businesses from the report:

  • 20.8% of all new U.S. entrepreneurs are Hispanic in 2016
  • That number has doubled over the past 20 years (from 10% in 1996)
  • Hispanics are 1.5x more likely to start a new business than the average American
  • The total number of Hispanic-owned businesses in the U.S. is projected to grow to 4.23 million this year
  • That’s a growth rate of 27.5% in just the past four years
  • That’s more than double the growth rate for all U.S. firms (12.3%)
  • $151 billion increase in sales receipts from U.S. Hispanic-owned businesses between 2012 and 2016
  • $317 billion increase in sales receipts from U.S. Hispanic-owned businesses between 2007 and 2016
  • $423 billion increase in sales receipts from U.S. Hispanic-owned businesses between 2002 and 2016
  • Hispanic small business owners are 1.7 times more likely to earn in excess of $100,000 per year than Hispanics overall

For any B2B business, these number are simply too large and significant to ignore. Customize a strategy for reaching U.S. Hispanic business owners—and make sure you speak to their unique and specific needs, with a message that resonates with them.