Hispanic-owned businesses double from 2002 to 2013
NEW YORK • The number of Hispanic-owned businesses in the U.S. is expected to nearly double this year from 2002.
That's the finding of a study released Friday by the U.S. Hispanic Chamber of Commerce and Geoscape, a company that provides demographics data. The study, which analyzes U.S. census data and other information, projects there will be nearly 3.2 million Hispanic-owned businesses in the country in 2013, up from nearly 1.7 million in 2002.
The study also forecasts that the number of Hispanic-owned businesses in what it calls the South Atlantic region Maryland, Virginia, West Virginia, the Carolinas, Georgia and Florida will surpass the number in the Pacific region, which includes the West Coast and Alaska and Hawaii.
The study projects that there will be more than 866,000 Hispanic-owned businesses in the South Atlantic this year, compared with nearly 796,000 in the Pacific.
The surge in Hispanic-owned businesses reflects the rapid growth of the Hispanic population. The number of Hispanics counted in the U.S. census in 2012 rose 2.2 percent from 2011 to 53 million.