By Farida Jhabvala Romero, KQED News Fix/The California Report
Half of Latino entrepreneurs rely on personal capital only — including credit card debt — to start and expand their businesses, which limits their success as well as growth opportunities for the U.S. economy. That’s according to a new survey of 4,900 Latino-owned businesses across the country by the Stanford Graduate School of Business.
Latinos start enterprises at a faster rate than other groups in the country but struggle to grow those businesses, according to U.S. Census figures the researchers cite. The more than 3.3 million firms owned by Latinos nationwide made $150,000 in annual sales on average, one-quarter of what non-Latino firms made in 2012.
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