Hispanic-owned businesses in California have grown 43.9% over the past five years. One of the most surprising things is that in Inland, Southern California, they have reached 50.6%.
The study conducted by the Center for Economic Development and Design of the School of Management at the University of California Riverside said that, between 2007 and 2012, Hispanic-owned businesses represented 23.4% of all businesses in California and almost 12.2% of all businesses in the country.
This confirms that, in recent years, Hispanics have been a large and growing part of the population and the workforce of the state of California.
In California, although Hispanic-owned businesses were nearly one quarter of the total, they generated only 6.5% of all profits and employed only 8% of the state’s workforce. Therefore, it is expected that “disparities in income and employment will improve to the extent that these businesses (owned by Hispanics) mature”.
It is important to remember that Hispanics in California became the majority of the population in July 2014 with about 14,990,000 people, surpassing even non-Hispanic whites (14.92 million Californians).