Hispanic-Owned Businesses on Rise
POSTED: Tuesday, October 5, 2010 - 7:35pm
UPDATED: Wednesday, October 6, 2010 - 10:38am
The number of Hispanic-owned businesses across the country is growing and El Paso is at the forefront.
The Census Bureau has released a report showing the number of Hispanic-owned businesses grew 40% from 2002 to 2007.
But this news comes as no surprise to the Hispanic Chamber of Commerce, because over 60% of the businesses here are owned by Hispanics.
Despite what they call good news, they say entrepreneurs here face a challenge.
"There's one thing to have hundreds of thousands of Hispanic businesses across the country," said Cindy Ramos-Davidson, CEO of the Hispanic Chamber of Commerce. "But if they're only doing a million dollars then we're not making the grade. They need to be doing 100 million dollars."
The Chamber says they are working to change the low-wage mentality that some have of El Paso by offering training in finances and technology.