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Latino-Business Barometer United States
RDA Global, May 2005, Pages: 22
As the size of the Hispanic population increases in the United States, Hispanic-owned businesses also are growing at a fast pace and assuming an increasingly important role in the nation’s economy. It has become increasingly important for those marketing in the business-to-business market space, to have a sound assessment of the size and characteristics of this rapidly growing market segment. In this report, the author provides a detailed set of forecasts of Hispanic-owned business and employment by Hispanic-owned firms out to the year 2008.
This report is based in part on the Hispanic-Business Database which contains forecasts of employment, firms, payroll, and sales revenues of Hispanic-Owned firms. The database covers firms in the US, all fifty US states and for over 300 metropolitan areas. Forecasts are segmented by firm employment size and industry verticals and sub-verticals and cover the period 2004 through to 2008.
This report highlights the detailed forecasts available within this database. This report also provides insights into the Hispanic-business growth expectations and spending plans. Growth and spending expectations were captured in a telephone survey of owners of 350 Hispanic-owned businesses in the four largest Hispanic markets in the country: California, Florida, New York and Texas. The survey results help us understand the economic expectations among Hispanic-owned businesses and also provide insights into the Latino business culture.
Did you know...
- Hispanic-Owned Firms make up 4.5% of total U.S. Firms (368,000 in 2005)
- Hispanic-Owned Firms employ 1.8% of total U.S. Labor Force (2.4 million in 2005)
- Over the next 10 years, Hispanic-owned businesses will be the fastest growing component of the business end-user market in the United States - their rate of growth is expected to be in the 8 percent range- almost three times the rate of overall U.S. firms.
- Half of the sampled firms (those with 1-100 full-time employees) are owned by first generation immigrants to the U.S.
- By 2008 Hispanic-owned firms are expected to be generating $547 billion in revenues.
- In 2008, the average revenue per employee for Hispanic-owned firms will be about $176,000.00
- Hispanic-owned firms are very young firms.
- Hispanic-owned firms have higher growth rates than the average U.S. firms - 7.7 percent growth compared to 1 percent for particularly all U.S. firms.
- Hispanic-owned firms are expecting higher revenue growth and labor force growth than non-Hispanic firms.
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