Over 53 million Hispanic Americans currently live in the United States. The contributions made by this community and their ancestors have helped to shape America in ways that are celebrated every day. From Desi Arnaz entertaining television viewers on “I Love Lucy” to David Farragut leading the Union Navy during the Civil War, Hispanic Americans have firmly secured their place in American history.
This month, the Hispanic American community has more reason than ever to celebrate. September 15th - October 15th marks National Hispanic Heritage Month. This holiday began as a weeklong observance, but grew into a month-long celebration in 1988 under President Ronald Reagan. The 30-day period falls within the anniversaries of independence for Costa Rica, El Salvador, Guatemala, Honduras and Nicaragua (September 15th), as well as Mexico (September 16th) and Chile (September 18th). Around our nation’s capital and in museums throughout the United States, the accomplishments of this community are being showcased far and wide.
During this month’s festivities, entrepreneurs and business owners of the Hispanic American community deserve some extra recognition. Why? Because Hispanic-owned businesses in the United States are booming:
- In 2013, the 3.2 million businesses owned by Americans of Hispanic descent generated $468 billion in revenue. This represents a huge increase since 2002, when 1.6 million Hispanic-owned businesses generated $254 billion in revenue.
- In the last year, the number of Hispanic-owned businesses – more than doubling the nation’s average business growth rate of 3 percent.grew by 7 percent
- Hispanic Americans are the group most likely to launch a business, according to a study commissioned by the U.S. Chamber of Commerce.
- By 2016, Hispanic-owned businesses are expected to top 4.3 million, with expected revenues of $539 billion.
In short: from California to Maine, Hispanic Americans are continuing to promote business growth in the U.S., and show no signs of stopping.
Make sure to take advantage of all that the Hispanic-American community has to offer this month by supporting its hardworking business owners! (Want a unique way to support a business you love? Tell the owner about our Small Business Heroes program!)