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September 15 to October 15 is Hispanic Heritage Month, the time of year when our nation celebrates the cultures and contributions of people whose roots are in Spain, Mexico, the Caribbean and Central and South America.
Today, nearly one in six people in this country are Hispanic. That’s a significant change since the last census in 2000 when about one in eight people in this country were Hispanic. In fact, last year nearly 50 million people in this country identified themselves as Hispanic.
As the Hispanic community continues to grow, so does its influence on our economy. Every five years, the Survey of Business Owners profiles America’s businesses, giving us a look at the characteristics of U.S. businesses and their owners by gender, race, ethnicity and veteran status.
Additionally, Hispanic-owned businesses generated about $345 billion in sales in 2007, up nearly 56 percent compared with 2002. That’s well above the increase of 34 percent for all U.S. firms.
Over the next eight months, the Census Bureau will continue to publish information from the 2007 Survey of Business Owners. In December, we will be releasing detailed information on women-owned businesses. In 2011, look for ownership data for other groups. To find out more information about Hispanic-owned businesses, visit www.census.gov/econ/sbo.
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