Recent U.S. Census reports indicate that the number of Latino-owned businesses increased at three times the rate for U.S. firms. The number of Latino businesses increased dramatically from 490,000 in 1987, to 900,000 by 1992. During this sa
me period, receipts rose from $32.8 Billion to $80 Billion, or twice the
overall rate for U.S. firms. Revenues of Hispanic
businesses surpassed $160 Billion in 1997.
According to Commerce Secretary Mickey Kantor, this growth took place during a weak economy, in the face of discriminatory lending practices, and "is a great testimony to the tenacity, courage and talent of the officers and employees of these companies."