Latino-owned businesses are important to middle-class achievement and building generational wealth. The national 2020 State of Latino Entrepreneurship Report noted that Hispanic-owned businesses grew by nearly 34 percent over the last decade, generating nearly $500 billion in annual revenue and employing roughly 3.4 million Americans. A Texas-focused analysis is needed to assess the impact of Latino business ownership and growth barriers and opportunities.
Latino/a Wealth Disparities in 4 Charts: It’s known that the income needed to avoid poverty increases overtime at a rate faster than inflation, and closer to the increases in mainstream incomes and living standards. Yet, the poverty rates which determine eligibility for most purported ‘safety net’ and often fragmented programs is based on a methodology that is over 50 years old. We must focus on creating economic mobility toward achievement of ‘real middle-class income’ status from a combination of multiple measures – liquid assets, home ownership, retirement income, net worth, etc.