According to the Biz2Credit Hispanic Small Business Credit Study, Hispanic-owned businesses are hitting record numbers. Hispanic-owned businesses are growing 15 times that of the national average with average net income more than doubling in only one year, rising from $50,205 in 2015, to over $130,000 in 2016. Hispanic-owned businesses also saw average revenues triple from $68,540 in 2015 to over $200,000 in 2016. With an expansion to a more global market, Hispanic Americans with connections outside of the US are well positioned to succeed.
For the study, Biz2Credit analyzed the financial performance of 2,000 Hispanic-owned businesses and 25,000 other companies with less than 250 employees and less than $10 million in annual revenues. Those businesses were compared with 20,000+ companies owned by non-Hispanics.