According to Biz2Credit’s CEO, Rohit Arora,
Latino business owners are experiencing a 46% increase in revenue in 2019,
which is going to bolster America’s thriving economy.
According to Arora, Latino-owned
businesses, since 2012, have increased 31.6 percent, and their studies find that
revenues of Latino-owned businesses jumped 23 percent from 2017 to 2018. Cost
management is challenging for growing and young companies, which may factor
into the decrease in credit scores. Latino companies are expanding and
thriving, and they assist in contributing to the overall strength of America’s
economy.
Alfredo Ortiz of Job
Creators Network, in May, stated that even though Dems claimed the Donald Trump
economy wasn’t any help to the Hispanic community, the truth uncovered the
opposite.
According to Ortiz, the
truth is that in the Trump economy, Hispanics are flourishing. Dems asserting
the contrary is a simple partisan talking point to attempt to deny President Trump
the Hispanic support he earned and which might determine the presidential
election result next year. Expect Dems to boost their identity politic attacks trying
to skew Latinos against Repubs over the next 1-1/2 years.
In September 2018,
Arora referred to
the swiftly growing Hispanic community a “powerful force” and said that their companies
‘contribute over $700B to the economy on an annual basis.’
Arora added that the accomplishments
of Hispanic small businesses are impressive if you consider it’s frequently difficult
for them to gain accessibility to capital. However, they’re making progress.
For operator of the
Canave restaurant in Inwood, NY, Kenia Castillo, it’s her vision come true.
The research found that
the leading 5 states for Latino owned companies were Pennsylvania, Georgia, New
York, Texas, and California.
According to Manuel Chinea,
the COO of Popular Bank, the expansion of Latino companies is undeniable and
undoubtedly will rise as this critical group becomes a bigger part of the
population.
By the year 2050, Hispanics
are expected to make up almost 30 percent of the population, as compared with
18 percent today,” Chinea concluded.
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