By NWBC Council
It was estimated that there were 1.9 million Hispanic women-owned firms in the United States in 2016, employing 550,400 workers and generating $97 billion in revenues.[1] The number of Hispanic women entrepreneurs grew at a faster rate than any other group – 137 percent between 2007 and 2016. [2] With the United States Census Bureau projecting the number of Hispanic women to nearly double by 2050 and for Hispanic people to become the number-one minority group in the United States, the growth rate in the number of Hispanic women-owned businesses is expected to continue to surge.[3]
However, Hispanic women are underrepresented as entrepreneurs. While their share of the population is 8.3 percent, their share of businesses is 5.3 percent.[4] In addition, on average, Hispanic women-owned businesses are significantly smaller than businesses owned by other major racial and ethnic groups. According to the 2012 Survey of Business Owners and Self-Employed Persons (SBO), Hispanic women-owned businesses generated on average $54,000 in revenue per year compared to businesses owned by their White women counterparts ($171,000)[5] and businesses owned by White men ($716,000).[6] Employer firms represented five percent of Hispanic women-owned firms while employer firms represent 12 percent of White women-owned firms. White men-owned firms were five times more likely to be employers than Hispanic women-owned firms.[7]
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