The US Latino is the present, future, and New Mainstream Economy.
Trillion dollar economy.
Faster growth than the overall US economy.
Of all US GDP growth.
Of US real income growth.
Of NET new businesses.
Of US population growth.
Of NET new labor force entrants.
Faster growth than the rest of the US population.
The underfunding of Latinos is leaving growth on the table.
Investing in this cohort is critical for US economic growth, and will have a positive impact in our communities, by accelerating job creation, decreasing income inequality, increasing educational attainment, and creating multigenerational wealth for all Americans.
Despite being one in every four new entrepreneurs, 72% of Latino entrepreneurs face funding shortfalls, 70% rely on personal savings, and only 1.8% are venture-backed.
The number of Latino business owners grew 34% over the last decade, compared to 1% for all business owners in the US.
An additional $1.38 trillion would be added to the US economy if the average revenues of Latino-owned firms matched non-Latino-owned firms.
Achieving higher education 2.6x faster than non-Latinos, this youthful cohort will continue to produce skilled entrepreneurs.
In the next three to five years, this cohort’s GDP will eclipse that of France, the UK, and India.
As a stand-alone country, the US Latino cohort would be the 8th largest in the world, larger than Brazil.
Among the ten largest GDPs, the cohort’s real GDP grew the fastest in 2018, outpacing India and China.
From 2010 to 2018, the cohort’s GDP was the 3rd fastest growing, while the broader US economy ranked fifth.
The volume and revenues of new Latino entrepreneurs are impressive...
as demonstrated by the 584 Latino entrepreneurs who generated over $3 billion in annual revenues as part of the Stanford Latino Entrepreneurship Initiative (SLEI)