Remarkably, growth in the number of Latino-owned firms in the United States is outpacing growth in number among other firms. This high business creation rate is unique in the U.S. because the five-year average growth rate in the number of Latino firms has remained at double or triple that of the national average for the past fifteen years. This growth presents a great opportunity to expand the U.S. economy. If the number of Latino firms remained the same but their average sales mirrored that of non-Latino businesses, we could expect the impact to be an increase of 1.3 trillion dollars in sales.
This research report describes key findings from the second annual Stanford Latino Entrepreneurship Initiative 2016 Survey of Latino Business Owners. Through data collection led by Stanford faculty and researchers, this survey reached a national sample of over 4,900 Latino-owned businesses. The survey data provides much needed insights into all aspects of business operations and a deep dive into business strategies related to firm growth. Our research report focus is on providing an accurate and detailed profile of Latino firms as well as information on how scaled Latino firms differ from all the rest.