A recent survey by Stanford University found that Latinos are starting businesses at a faster rate than all other demographic groups. In fact, over the last decade, the number of Latino business owners grew 34% compared to the 1% for all other business owners.
There are more than 4.6 million Hispanic-owned businesses in the United States, according to the Hispanic Small Business Report. Despite these figures, most Latino-owned businesses remain small, with 98% reporting less than $1 million in revenue per year.
This guide from Bankrate shares personal experiences from Latino entrepreneurs and explains how to get started if you’re interested in starting your own business.