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2018 Hispanic Small Business Owner Spotlight

“Hispanic entrepreneurs are unified in their continued optimism toward the
economy and long-term growth, according to the second annual Bank of America
Hispanic Small Business Spotlight.

To better understand what’s driving the significant contributions of one of
the fastest-growing segments of the small business sector, Bank of America
surveyed nearly 400 Hispanic business owners across the nation to identify their
aspirations and concerns, as well as similarities and differences with their nonHispanic
peers.

Hispanic entrepreneurs feel a greater sense of confidence in both the national
economy and their local economies than they did in 2017, and compared to their
non-Hispanic peers, are more bullish on revenue and hiring in the upcoming year.
This prediction of prosperity extends to the longer-term. A strong majority of
Hispanic business owners anticipate growth in the next five years, and predict
the business environment will strengthen for them over the next decade. While
most Hispanic entrepreneurs say they face unique challenges, many also see
their heritage as helpful when it comes to business growth and attracting
customers.

External influences such as technology and employees may be driving these
positive sentiments. Hispanic business owners are early technology adopters,
leading their non-Hispanic peers in digital and social media usage. Hispanic
entrepreneurs are also investing in their employees’ long-term growth and
success, believing their ability to attract and retain talent directly impacts their
bottom line.”

Read the report here.

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