SUMMARY: The “Better Business” report found that during the period of 1990-2012, Hispanic Americans, particularly immigrants, founded new businesses at increasingly higher rates, even throughout the recession. Overall, hispanics are likely to continue to overcome obstacles and exceed their entrepreneurship growth rates over time.
- While entrepreneurship during the 2008 Recession dropped for non-Hispanics, the number of Hispanic entrepreneurs during that time grew by 71.5%.
- From 1990 to 2012 Hispanic immigrants increased entrepreneurship from 7.6% to 11.7%.
- For the entire 1990 to 2012 period, Hispanics added new entrepreneurs almost 10 times faster than the population overall.
- Small Business and Entrepreneurship Council, Latino Entrepreneurship: A Bright Spot in the U.S. Economy, Raymond J. Keating
- University of the Incarnate Word, The Impact of Culture on Hispanic Entrepreneurs as Mediated by Motivation, Challenge, and Success, Valerie Ballesteros
- Paul B. Silverman, Surge Rate Of Hispanic Entrepreneurship, Paul B. Silverman
- Medium, 3 Ways Latinx Entrepreneurs are Crushing it,Nestor Hugo Solari
DATE OF PUBLICATION: April 2014
AUTHORS: Alberto Dávila (Professor of Economics and Chair of Department of Economics and Finance, The University of Texas – Pan American), Marie T. Mora (Professor of Economics The University of Texas – Pan American), and Angela Marek Zeitlin (Director of Research Partnership for a New American Economy)
ABOUT THE RESEARCHER: The New American Economy is a bipartisan research and advocacy organization fighting for smart federal, state, and local immigration policies that help grow our economy and create jobs for all Americans.