When Latinos leave their countries, they do it with the intention of finding a better life for them and their families. In most cases, they leave just with a bag full of hopes and dreams not knowing what their life will bring in this new country.
Many of them, as soon as they can, establish their own business. The 2015 Kauffman Index: Startup Activity measures the business startup activity in United States. Among their findings is also information regarding the race of the business owner.
According to this index, all racial and ethnic groups experienced an increase in the rate of new business development in 2014, with the Latino share increasing from 10% in 1996 to 22.1%. Immigrant business owners accounted for 28.5% of all new businesses started in 2014.
In a recent article by The Pew Research Center, they mentioned that the U.S Hispanic population has reached a new high of 55.4 million in 2014 (17.4% of the total U.S Population). It is also well known that the Hispanic’s purchasing power is expected to increase to 1.7 trillion U.S dollars by 2017 according to the report from The Statistics Portal.
Latinos are not coming here to be supported by the government, their experience in their previous country taught them not to depend on that.
They are coming to get a better future! To contribute $1.7 trillion to the U.S. economy, to work hard creating jobs, to buy a home and fulfill the American dream, to bring their kids up to be the future professionals of this country.
So instead of looking at the Hispanic community as the ‘enemy’ let’s help them to fulfill their dream and guide them through the process of becoming a homeowner, that way their families can establish their roots in this new country they are now calling ‘home’.