WASHINGTON, D.C., October 2, 2018 – This Hispanic Heritage Month, the National Women’s Business Council (NWBC) recognizes the tremendous contributions Hispanic women business owners have made to the U.S. economy, and anticipates great accomplishments as they continue to fulfill their entrepreneurial potential.
Research on Hispanic Women entrepreneurs conducted by NWBC finds that there are over 1.9 million Hispanic women-owned firms in the United States. These firms are growing in number, revenue, and employment. According to the 2018 State of Women-owned Businesses Report by American Express, 400 Hispanic women-owned businesses are launched each day; and since 2007, Hispanic women-owned firms have grown at a rate of 172 percent. Their economic impact is profound and is expected to increase in the coming years.
Hispanic women are also job creators. Recent U.S. Census Bureau data analyzed by the NWBC shows that from 2014-2016 employment amongst Hispanic women-owned firms grew at a rate of 14 percent. In 2016, Hispanic women employed over 570,000 workers.
“It is impressive to see how Hispanic women-owned businesses are having a major impact on job creation and economic growth in our country,” says NWBC Chair, Liz Sara, “The rate of new businesses being launched daily by Hispanic women is a testament to how their entrepreneurial spirit is shaping the new workforce of the 21st century. The National Women’s Business Council is committed to supporting Hispanic women-founded firms from startup to scale. With a thriving entrepreneurial ecosystem, these firms will continue to have great success.”
About National Women’s Business Council
The National Women’s Business Council (NWBC) is a non-partisan federal advisory council created to serve as an independent source of advice and counsel to the President, the Congress, and the Administrator of the U.S. Small Business Administration (SBA) on issues of impact and importance to women business owners, leaders, and entrepreneurs. To learn more about NWBC, visit www.nwbc.gov.
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