Small Business

A Playbook for Scaling Latino-Owned Businesses

February 12, 2020  • Aspen Institute Latinos and Society

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Latinos make up the fastest growing share of entrepreneurs in this country, creating new businesses at multiples the rate of other groups, and contributing more than $700 billion in sales to the economy each year.  But, of the approximately 4.65 million Latino-owned businesses (LOBs) in the United States, only three percent of those have scaled; that is, reached $1 million or more in revenue annually. If LOBs were to scale at the same rate as white-owned businesses, an estimated $1.47 trillion dollars could be added to the economy, benefitting not just Latinos, but all Americans. Creating the right ecosystem for LOBs to thrive will require collaboration across sectors and industries, and this playbook lays out action steps key stakeholders could implement to enable more LOBs to scale.