April 12, 2013. A story in VOXXI highlights the impact of Latino entrepreneurs in the new economy.
In 2010, 27.9 million small businesses employed less than 500 people while only 18,500 firms had 500 employees or more, according to the Small Business Administration (SBA). Moreover, they represent 99.7 percent of U.S. employer firms and create 64 percent of net new private-sector jobs with an impact on over 44 percent of the total U.S. private payroll.
Sharing the impact in the new economy, Latino entrepreneurs make up 28 percent of small business owners, according to a new study by the Fiscal Policy Institute, and it is the fastest growing trend among all new businesses.