• Aug 22, 22
• Elemento Consulting
• 0 comment

Why latino businesses are important in the US

Latino Owned Businesses (LOBs) are quite promising. Latino entrepreneurs are starting small businesses faster than the rest of the emerging population and becoming a larger part of the total US market every day. It is estimated that they will make up 29 percent of the US population. by 2050, up from 17 percent today.

According to a Stanford Graduate School of Business study, if those companies grew as fast as the US average, they could add $1.4 trillion to the US economy.
In addition, when Latino entrepreneurs start a business, 70 percent of their financing comes from personal savings, according to the Stanford study, while only 6 percent comes from business loans.

More information here