IE Business Daily Business news for the Inland Empire.
The number of Hispanic-owned businesses in Riverside and San Bernardino counties grew by more than 50 percent from 2007 to 2012, according to data released Wednesday.
That was a faster rate of growth compared with all other business categories, not only in the two-county region but in California and the United States as well, UC Riverside’s Center for Economic Forecasting and Development stated in a report.
The study, which used data from the U.S Census Bureau’s 2012 Survey of Business Owners, also found Hispanic-owned businesses in the Inland Empire have not kept pace with their state and national counterparts in employment of revenue growth.
However, those disparities should close up as Hispanic-owned businesses in the Inland Empire continue to mature, the report stated.
“For years, Hispanics have made up a large and growing share of the population and work force of the nation, state, and inland region,” said Chris Thornberg, director of the center for economic forecasting and one of the report’s authors, in a statement. “As a measure of socio-economic advancement, it is an important and positive trend to see proprietorships increasing and a healthier balance developing between Hispanic business owners and workers.”
