A new report from the Kauffman Foundation states that nearly 20% of the people who opened new businesses in 2012 were Latinos.
The new study says that even though entrepreneurship has declined in numbers nationally, the amount of Latino entrepreneurs has doubled since 1996.
“The Latino rate is higher than the rate for African-Americans, Asians, whites,” says Robert Fairlie, Lead Researcher of the Kauffman Foundation report. “That’s a relatively new pattern because that wasn’t the case fifteen years ago.”
The study suggests that entrepreneurship has gone down nationally because of more job creation in established firms and corporations. They also believe that the rate for Latino entrepreneurs has increased because of a new immigrant spirit encouraging more immigrant entrepreneurs.
“Latino patterns are following the patterns of the immigrant population,” says Fairlie. “It’s population growth and the fact that Latinos are becoming an increasing share of the nation.”
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