State of Latino Entrepreneurship 2015

SUMMARY: This report presents the rates of Latino entrepreneurship in the U.S and their impacts. If Latino-owned businesses (LOBs) generated the same level of sales as non-Latino owned businesses (NLOBs) from 2002-2012, $1.38 trillion would have been added to the U.S economy.

TALKING POINTS: 

• LOBs are predominantly family owned, only 8% of businesses have non-family ownership.
• LOBs are more likely to use credit cards for funding, as ⅓ of surveyed LOBs have been turned down for funding from banks.
• Of the surveyed LOBs, 22% have never heard of the SBA, 51% have never heard of the SBIC, and 56% have never heard of SBIR, three of the most well-known funding sources for firms. 

BUZZ:

• CNBC, Latinos: The force behind small-business growth in America, Jerry Porras and Remy Arteaga

https://www.cnbc.com/2016/04/18/latinos-the-force-behind-small-business-growth-in-america.html

• Advancing U.S. Latino Entrepreneurship: A New National Economic Imperative, Marlene Orozco

https://books.google.com/books?id=ui7eDwAAQBAJ&pg=PT155&lpg=PT155&dq=state+of+latino+entrepreneurship+2015&source=bl&ots=urkOJgJJUE&sig=ACfU3U2GnI4xgo0_eDD1uvzcg39IkF6PqA&hl=en&sa=X&ved=2ahUKEwjSnMSZ27jqAhXpg-AKHYjtB90Q6AEwCXoECAoQAQ#v=onepage&q=state%20of%20latino%20entrepreneurship%202015&f=false

• Forbes, Economic Growth's New Driver: It's All About Latino Entrepreneurs, George Anders

https://www.forbes.com/sites/georgeanders/2015/11/12/economic-growths-new-driver-its-all-about-latino-entrepreneurs/#1ae1d86366d9

DATE OF PUBLICATION: November 2015

AUTHORS: Dr. Douglas Rivera (Senior fellow at the Hoover Institution at Stanford University), Dr. Jerry Porras (Cofounder and chairman of the LBAN and Lane Professor of Business in Stanford University), Remy Arteaga (Executive Director of LBAN), Tiq Chapa (Program Manager at SLEI), and Jessica Salinas (Community & Marketing Manager of LBAN).

ABOUT THE RESEARCHER: The Stanford Latino Entrepreneurship Initiative (SLEI), a collaboration between the Latino Business Action Network (LBAN) and Stanford University, housed within the Stanford Graduate School of Business, created this report on the State of Latino Entrepreneurship in the United States.