Latino Business in Massachusetts

Massachusetts Hispanic-owned firms increased by 25 percent from 1997 to 2002 to 15,940 companies, and Asian-owned firms by 42 percent to 18,071, while black-owned business increased only 8 percent to 12,820. Only 4 percent of the state's software companies are miniority-owned.  A 2005 study by Babson College and the Boston Consulting Goup shows that miniority firms have a third of the employment and a mere fifth of the revenue of firms statewide. Miniority-headed companies are too often confined to serving racial and ethinic markets, lacking wider business ties. 

-A Junior Achievement poll showed that some 79 percent of Latino teenagers want to start their own businesses,² compared with 69 percent of non-Hispanic white teenagers. (Source: Hispanic Trends)

-1 out of every 10 small businesses will be Hispanic by the year 2007. (Source: Hispanic Trends)

- Small businesses make up 98% of all businesses and create the majority of new jobs added to the economy. (Source: Small Business Administration)

-Hispanics account for over 13% of the documented U.S. labor force and are expected to increase to 20 percent by 2030. (Source: HispanTelligence® )

-Hispanic employment has grown more than 16 percent since 2000, while overall U.S. employment has barely grown 2 percent. (Source: HispanTelligence® )