Study: Hispanic Businesses Grow at Twice National Average and Contribute $668 Billion Annually to the U.S. Economy

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Hispanics in Business Study reveals business growth, entrepreneurship
and economic contributions

MIAMI–(BUSINESS WIRE)–(USHCC NATIONAL CONVENTION) – October 10, 2016 – There will be
4.23 million Hispanic-owned businesses projected this year – double the
growth rate of all U.S. firms, according to a study released today by Geoscape,
a leading provider of business intelligence technology, data and
analytics.

Published in partnership with the U.S.
Hispanic Chamber of Commerce
, the Hispanics in Business 2016
study details the growth of Hispanic business ownership, high levels of
entrepreneurship and contributions to the U.S. economy. The results were
formally unveiled at The
USHCC National Convention
, taking place this week in Miami.

Rapid Growth
Hispanic-owned businesses have grown 27.5
percent since 2012, double the growth rate of all businesses in the U.S
(12.3 percent). The fastest-growing states for Hispanic entrepreneurial
activity continue to be California, Texas and Florida, though New York,
Georgia, Arizona and Illinois have also experienced substantial business
growth.

High Levels of Entrepreneurship
Hispanics comprise more than
20 percent of all American entrepreneurs, compared to 10 percent a
decade ago. Hispanics are 1.5 times more likely than the general
population to start a business, according to the Kauffman Index of
Entrepreneurial Activity.

Larger Income and Wealth
Sixty-six percent of Hispanic
business owners earn greater than $50,000 in household income, compared
to 38 percent of all U.S. Hispanics. Hispanic business owners are also
1.7 times more likely to earn in excess of $100,000 per year, compared
to Hispanics overall.

Greater Economic Contributions
Sales from Hispanic-owned
businesses contribute more than $668 billion to the U.S. economy, an
increase of 29 percent since 2012 and nearly twice the total in 2007
($351B). Hispanic business owners are also more likely to contribute to
financial institutions than the overall Hispanic population, including
financial planners, mutual funds, second homes and IRAs.

“Throughout all corners of the United States, Hispanic entrepreneurs
play a crucial role in supporting the growth of local communities,” said
Javier Palomarez, President & CEO of the U.S. Hispanic Chamber of
Commerce. “They create American jobs, maintain our leadership in global
markets, and contribute toward the mutual prosperity that makes
America’s economy the greatest in the world.”

“We conduct this study each year to prove that Hispanic-owned businesses
are an undisputed strategic growth opportunity,” said Cesar
M. Melgoza
, CEO and founder of Geoscape. “They are the present and
future of our economic foundation, as they continue to grow jobs and
wealth. It is everyone’s business to support the Hispanic entrepreneur,
as their success is our success as a nationwide economy.”

To view the study in its entirety, visit www.geoscape.com/HBR

About Geoscape:

Geoscape provides digital audience targeting platforms, automated
intelligence systems, unique data products and analytic services for
companies seeking to tap into the growth of New Mainstream consumers in
the U.S., Canada and Europe. The AUDIENTIVITY™ digital audience
targeting platform provides brands with the most precise and accurate
way to reach New Mainstream consumers with relevant digital content. The
online Geoscape Intelligence System (GIS), the DirecTarget® database
enrichment system and a variety of geo-demographic, consumer, business
and media databases enable actionable insights that lead our clients to
gain significant business advantages. Geoscape is a privately held
company owned by NMS Capital and Cesar M Melgoza, Founder & CEO, and has
offices in Miami and New York City.

About the USHCC

Founded in 1979, the USHCC actively promotes the economic growth and
development of Hispanic entrepreneurs and The USHCC actively promotes
the economic growth, development and interests of more than 4.1 million
Hispanic-owned businesses that, combined, contribute over $661 billion
to the American economy every year. It also advocates on behalf of 260
major American corporations and serves as the umbrella organization for
more than 200 local chambers and business associations nationwide. For
more information, visitushcc.com. Follow the USHCC on Twitter @USHCC.

Contacts

Press Contact:
PAN Communications
Adam Novak,
617-502-4326
anovak@pancomm.com