Study Reveals Slow Growth for Hispanic Businesses
A new study shows that Hispanic-owned businesses are slow to grow, Bloomberg Businessweek reported.
Conducted by the University of Texas' Bureau of Business Research, the report showed white employers perform better over all and draw in a higher revenue than Hispanic employers.
Based on a survey of 2,800 Hispanic business owners in the state, the study showed most Hispanic-owned businesses stay small--66% of 16-year-old businesses in Texas have fewer than 10 employees.
The report stated that Hispanic employers should "increase business training in management and communication skills." But 77% of those surveyed had some type of post-high school education, over twice the education for the population in general.
"The key training needs issues were surprising because they were about running the company and motivating employees, not the nuts and bolts issues of accounting or lack of capital found in most minority business literature," BBR Associate Director Bruce Kellison told the outlet.
Another recent study by the Kauffman Foundation, which tracks business creation in the U.S., found that the entrepreneurial endeavors by Hispanic decreased from 0.56% in 2010 to 0.52% in 2011.
But the big picture? The number of Hispanic entrepreneurs rose from 10% in 1996 to 22.9% in 2011.