NEW YORK – An annual report on Latino entrepreneurship reveals gains, but has room for improvement.
The latest report from the Stanford Latino Entrepreneurship Initiative shows the growth rate of Latino-owned businesses is higher than any other group.
The report also found these businesses face unique challenges.
Latino start-ups tend to stay smaller, and therefore make less money than their counterparts.
The research also found that small businesses overall struggled with lack of business training and access to capital and loans.
In fact, the report found that 72 percent of owners don’t know their business credit score.