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:
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.