Team Sage Blog

Hispanic Businesses are the fastest growing segment in the USA

Coffee with Jody - Episode #9

Transcript:
The other day I was reading a very interesting statistic that I want to share with you. I’ve already talked with you about how only 4 percent of businesses will ever pass the 2 million dollar mark worldwide. So, if you have revenues greater than 2 million you’re already in the 4 percent club.

Most businesses won’t even break a million dollars. As a matter of fact, the stat that I was reading is: the average non-Hispanic business in the U.S. is four hundred and fifty-seven thousand annual revenue. Its kind of on the low side, but that’s the blend, right, that’s the middle of the bell curve.

The Hispanic businesses in the United States average annual revenue is a hundred and fifty thousand. So, I went, how can that be? Some of it, they think, may be because of small mom and pops. Some of it may be that they’re not completely reporting all of their revenues. So, there’s a number of different reasons that they think may have that number be on the low side.

However, here in South Florida we have one of the largest populations of small business owners, and Hispanic business owners in the country. So, when you stop and think about it, if we could bring our Hispanic business owners up to just what the average non-Hispanic business owner in the U.S. is, it’s an over 1.3 trillion dollar opportunity.

If you stop and think about it, you have Hispanic business clients, more than likely. What can you as a vendor supplier provide for them that’s going to allow them to grow to grow their business: so they create more jobs; so they run better businesses; and they pay more taxes and when they pay more taxes then we create better schools; we have more resources in our communities; we have better parks; we have more of everything that we want to provide people who live here in the United States.

And, the Hispanic business owners are one of the fastest growing segments, along with women business owners in the country. So, the opportunity is huge for everyone to win. So, stop and think: “Knowing this what will I do differently this year.”

No comments
Jody JohnsonHispanic Businesses are the fastest growing segment in the USA

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.