How many American businesses are owned by Hispanic Americans?

Belying the common image of the Hispanic American as a hired hand in someone’s factory or field, Latinos are more likely than ever to run their own companies.

As of 1992, Hispanic Americans owned 862,605 businesses-5 percent of all the businesses in the country. California, Texas, and Florida have especially high numbers of Hispanic-owned business.

Most Hispanic American businesses are small firms owned by a single proprietor. Many of these firms are new.

The number of Hispanic-owned businesses increased 76 percent from 1987 to 1992, nearly triple the rate of growth for U.S. firms as a whole.