A study recently released by Geoscape and supported by the United States Hispanic Chamber of Commerce reveals that Hispanic-owned businesses, including bakeries, are a fast-growing and critical part of the U.S. economy.
The study revealed that the total number of Hispanic-owned businesses is projected to reach 4.07 million in 2015, an increse of 750,000 firms since the last Census report in 2012. The combined annual revenue of Hispanic-owned businesses is projected to exceed $662 billion this year - an increase of $144 billion since 2012.
Hispanic business growth is taking place in regions that are not historically associated with the Hispanic population. The fastest-growing region is the West North Central Census region, consisting of Minnesota, Iowa, Missouri, Nebraska and the Dakotas.