Latinos, Immigrants Fuel Entrepreneurship In 2012 – Fox News Latino

April 22, 2013 by Juan Tornoe – Fox News Latino The U.S. economy added more than six million new business owners in 2012 and almost 1 in 5 were Latino entrepreneurs. Overall, entrepreneurship saw a dip, partly due to more job creation in established firms and corporations. But Latino and immigrant entrepreneurs continued to fuel new business, according to a report by the Kauffman Foundation.

April 22, 2013 by Juan Tornoe – Fox News Latino
The U.S. economy added more than six million new business owners in 2012 and almost 1 in 5 were Latino entrepreneurs.
Overall, entrepreneurship saw a dip, partly due to more job creation in established firms and corporations. But Latino and immigrant entrepreneurs continued to fuel new business, according to a report by the Kauffman Foundation.

But how does a better economy equate to less small business owners?

“It’s likely not a coincidence that the number of new businesses created dropped when the economy improved last year. While a stronger economy is good for business growth, it also means the unemployed find jobs instead of starting firms,” said Dane Stangler, director of research at the Kauffman Foundation, which conducts the annual study.

Each month in 2012 saw approximately 514,000 new business owners.

The number of business owners fell overall from .32 percent of adults in 2011 to .30 in 2012, according to the report.

But last year the number of Latino entrepreneurs grew more than white, black and Asian entrepreneurs. In 2012, Latinos accounted for 19 percent of total new entrepreneurship, entering at a rate of 400 out of 100,000 adults.

Whites comprised 62 percent of all new business owners in 2012 but only grew at a rate of 290 out of 100,000 adults. New black entrepreneurs comprised 9 percent of all new business owners and only grew at a rate of 210 out of 100,000 adults. Asian entrepreneurs comprised just 6 percent of all new business owners and grew at a rate of 310 out of 100,000 adults.

New Latino entrepreneurs continue to outpace all other groups and are fueling future job creation in the United States. Since 1996, the number of Hispanic entrepreneurs has nearly doubled, from 10.5 percent to 19.5 percent in 2012. Meanwhile, the percentage of new White entrepreneurs in the United States has fallen from 76.4 percent to 62.4 percent during the same period.

As part of what experts point to as the new immigrant spirit, the share of ‘new immigrant entrepreneurs’ rose from 13.7 percent in 1996 to 27.1 percent of all entrepreneurs in 2012.

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