Geoscape, a leading provider of business intelligence technology, data and analytics, announced the results of a new study on Hispanic business ownership, entrepreneurship along with their wealth and philanthropy.
The study reveals that Hispanic businesses are a fast-growing and critical part of the U.S. economy. During the last decade, the number of Hispanic-owned businesses doubled, growing from 1.5 million in 2002 to a projected 3.1 million in 2013. This year, the projected combined annual revenue of these businesses is over $468 billion – an increase of over $100 billion in the past six years.
The Hispanics in Business Study contains data sourced from Geoscape, the U.S. Census, Scarborough, the U.S. Department of Commerce and the Kauffman Index of Entrepreneurial Activity.