New Report Shows Latino Entrepreneurs Driving U.S. Business Growth, Job Creation, and Economic Expansion

The Latino Business Action Network (LBAN), in collaboration with the Stanford Graduate School of Business, has released the 11th Annual State of Latino Entrepreneurship (SOLE) Research Report, highlighting the growing impact of Latino entrepreneurs on business creation, job growth, and economic expansion across the United States. The findings will be presented at the 2026 State of Latino Entrepreneurship Summit at Stanford Graduate School of Business, bringing together business leaders, investors, policymakers, and academics to discuss trends and opportunities in Latino entrepreneurship.

The report shows that Latino entrepreneurs are starting businesses at a faster rate than the national average and are responsible for a significant share of new business formation and job creation. Between 2017 and 2023, the number of Latino-owned businesses grew by 48%, adding approximately 180,000 new businesses, while the number of White-owned businesses declined during the same period. Latino-owned businesses also created nearly one million new jobs and saw revenue growth increase significantly, demonstrating their growing contribution to the U.S. economy.

The research also found that Latino-owned businesses are playing a major role in business growth across the largest U.S. state economies, including California, Texas, Florida, and New York. In some states, Latino-owned businesses accounted for more than half of all new business creation, highlighting their importance in sustaining economic growth in key markets.

Despite strong growth and economic contribution, the report identifies ongoing funding challenges for Latino entrepreneurs. Latino-owned businesses are less likely to receive full financing compared to White-owned businesses, particularly for larger loan requests. Latino founders also receive less venture capital funding overall, even though many Latino entrepreneurs are increasingly building businesses in technology sectors such as AI, fintech, cybersecurity, and e-commerce.

The report also highlights that Latino-owned businesses tend to expand internationally earlier than many other businesses and often operate profitably despite being younger and smaller in size. Many Latino entrepreneurs are also actively pursuing growth strategies such as entering new markets, forming partnerships, and pursuing acquisitions to scale their businesses.

Overall, the report concludes that Latino entrepreneurs are a major driver of new business formation, job creation, and economic growth in the United States. However, improving access to capital, funding opportunities, and business networks will be critical to supporting continued growth and ensuring long-term economic impact.