The 2nd Annual Bank of American Hispanic Small Business Owner Spotlight report was recently released, highlighting how Latino business owners will impact economic growth in 2018.
According to the report, Hispanic business owners are much more optimistic than their non-Hispanic counterparts that local economies will improve in 2018 (67% vs. 48%). Not only that, 71% of Hispanic business owners believe that their revenue will increase in the upcoming year, compared to just half of non-Hispanic business owners.
The report highlights growing confidence in local and national economies from Latino business owners – which could signify an increase in business spending when it comes to hiring, expansion, employee benefits, and more.
According to the 2010 census data, nearly half of all local businesses in Hillsborough County are minority-owned – with that percentage steadily increasing as the local Hispanic population continues to grow.
Hispanic businesses continue to have a large impact on our local economy – so keep an eye out for what 2018 has in store!
To learn more about connecting with Hispanic business owners in the Tampa Bay Market, contact Entravision Tampa Bay.
Entravision Communications is the largest publicly traded multimedia company (NYSE:EVC) focused on reaching Hispanic consumers. Our media properties include Pulpo Media, the comScore #1 rated ad network for reaching Hispanic audiences throughout the U.S., as well as 56 TV stations and 49 radio stations.