Although much deserved attention is paid to the dramatic growth of U.S. Hispanic consumers, Hispanic businesses also have become a strategic growth opportunity within the U.S. economy. That is why Geoscape produces this annual report. Businesses owned and managed by Hispanic professionals are increasingly likely to employ American workers of all backgrounds and contribute progressively more to the tax revenue of local, state and federal government entities – enabling our economy to stay strong. Furthermore, the well-being of Hispanic businesses is in the interest of all Americans and others who depend on the U.S. economy. That is, as the non-Hispanic white population ages, retires and depends on social security and pensions, Hispanic entrepreneurs will begin to bear more of the burden to thrust the economy forward. Hispanic entrepreneurs are more youthful, connected digitally and more socially engaged than non-Hispanics overall. However, this asset must not be neglected; it is everyone’s business to support the prosperity of Hispanic businesses because the multiplier effect of their growth will need to fuel more American jobs and income in the years to come. In the face of difficult circumstances gaining employment in corporations, Hispanics create their own path to wealth through entrepreneurship – this is an American value that Hispanics embrace wholeheartedly. In this report, you’ll find that Hispanic businesses are growing at more than 15 times the rate of all U.S. firms. You will also see that Hispanic businesses contributed over $600 billion in revenue to the national economy in 2015 – that number will continue to increase. Additionally, you will find that the regions of growth may not be those you would expect, as Hispanic households and businesses spread throughout the nation. We look forward to your comments on this report so that we may continue to evolve this publication into a more useful resource that guides decision making at all levels.
César M. Melgoza, Founder & CEO , Geoscape