Hispanic Entrepreneurship Is On The Rise

As marketers continue to look for opportunity to grow their brands, a new opportunity is emerging: Hispanic-owned businesses. A recent report released by The Partnership for a New American Economy and the Latino Donor Collaborative reveals exponential growth in the area of Hispanic entrepreneurship.

The findings of the study entitled Better Business: How Hispanic Entrepreneurs Are Beating Expectations and Bolstering the U.S. Economy, are indeed interesting. For instance, here are a few key findings from the study:

• Hispanic immigrants in particular are more likely to be entrepreneurs than the average member of the U.S. population.
• From 1990 to 2012, the number of Hispanic entrepreneurs in America more than tripled.
• Hispanic entrepreneurs helped power the economy during the recent recession.
• Between 1990 to 2012, the number of Hispanic immigrant entrepreneurs of working age more than quadrupled.

The study also identified the challenges that Hispanic entrepreneurs face today, such as access to capital and other resources needed to help grow their businesses.

What you need to know: Hispanic entrepreneurship is on the rise, and it is likely to influence marketing opportunities and challenges. While we determine the impact Hispanic-owned businesses will have on marketing strategies, one thing is already evident as the study itself points out: "The entrepreneurs of the future will increasingly be Hispanic."

To download the study and read more about its key findings, please visit the Partnership for a New American website.