Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

Hispanic SME business growth trend

By Jose Torres Subscribe to RSS | January 14th 2012 | Views:
loading
 
  



SME or small and medium enterprises account for a large chunk of business growth and development and a hefty amount of annual income for many countries. In the US of A, small businesses play a vital role in creating almost 75 percent of the total jobs in the country. Small enterprises are not restricted by communities or social structure and a huge number of the SMEs are owned by people from the Hispanic of Latino communities. The perception of free enterprise has been altered by the alliance between community financial growth and societal growth. From one that entirely emphasizes its economic significance, it is one with insightful social repercussions for the Latino population and Hispanic business has an important role in the markets.

The small businesses controlled by members of the Hispanic and Latino communities are often overlooked even though the social and economic impact of Latino business is quite substantial. Consequently, a full comprehension is not established of how these SMEs accomplish significant socio-economic responsibilities within the communities. For instance, the Latino communities are responsible for 81 percent of the population growth in approximately100 of the largest cities in the USA. The increase also means that Hispanic business is seeing a continuous creation and progress. These enterprises have the unexploited prospective of reaching out to groups and communities that are continuously growing and providing them with various services.

The upward curve of the Latino business enterprises is a direct result of the ever growing communities. People are also providing multiple products and services from one business location – for example, a provisions store can also provide services like money remittance. Members of the Hispanic communities are venturing into the SME segment and advancing at a very fast rate. The United States Hispanic Chamber of Commerce projected in 2007, that approximately 2 million Latino business enterprises in the country were producing $300 billion in yearly gross revenue. Another more recent estimate states that Latino community is the largest one with self-owned businesses and make up about 6.6 percent of the roughly 2.3 million companies in the US. Latino small business enterprises have seen an increase of about 64 percent between 1997 and 2004.

Large corporations are taking the continual growth trend of Latino business enterprises into account and the potential of the huge market in the relatively untapped communities. For example, companies like Microsoft and Hewlett Packard have products and information targeted specifically at and for the Hispanic community. This was emphasized with the release of Microsoft Office in Spanish; since the small business enterprises in that segment are progressing at a great speed, the need to reach out and contribute was felt by the IT corporate. Likewise, Hewlett Packard created a website with all its product & services information in Spanish only, to reach out to the Latino business community.

Based on current business growth trends, it is estimated that that Hispanic businesses growth will be at a combined annual rate of approximately 9 percent and touch 4.3 million in 2012.

Jose Torres - About Author:
Jose Torres is Principal Partner and Founder of BuscaTuFranquicia.com & Franchise4Hispanics.com, the first and only Spanish & English language online market places for aspiring Hispanic entrepreneurs looking for business opportunities and Franchise Companies looking to tap into this community. Jose is also a franchise advisor and consultant and has over 20 years of general business management, marketing and sales experience in the consumer goods and franchise services industry.

Share on Facebook Tweet It Stumbleupon this post This post is delicious !

Article Source:
http://www.articleside.com/business-articles/hispanic-sme-business-growth-trend.htm

Related Business Articles Subscribe to RSS

B2B business portal can attract customers with Mobile Marketing
Published by Uncleservice on February 25th 2012 | Business
B2B business plan creation is now days a creative and fully technical task. A successful B2B busines...
 
Managed printer service for your business
Published by Glyn Jones on December 15th 2011 | Business
If you own a small business, then you would have of course realized the advantages offered by the ma...
 
Strategies for small business marketing
Published by Marketingspace on July 12th 2012 | Business
What do you understand by the term small business corporation? Generally the most common answer to t...
 
Hispanic SME business growth trend
Published by Jose Torres on January 14th 2012 | Business
Small and medium enterprises account for a large chunk of business growth and development and a heft...
 
Hosting Discount Coupons for easy start of online business
Published by Ashish Pandey on May 14th 2012 | Business
The hosting discount coupons can be an easy way to start your business. You can use these coupons an...
 
Giving your business a boost with merchant cash advance
Published by Joseph Richard on May 14th 2012 | Business
Every businessman has come across a time when he really needed an infusion of cash for his business....
 
Outsource Title Processing Services for getting additional business
Published by Amitaabh Saboo on January 16th 2012 | Business
As an autonomous mortgage loan instigator, there are a lot of advantages which you are able to achie...
 
Hiring external payroll services for you business
Published by Payroll1 on July 23rd 2012 | Business
The payroll is one of the principle sections of a business. It is the chief segment of an organizati...
 
IT support London can save your business
Published by Julia Bennet on April 7th 2012 | Business
When you run a business of any kind you need to make sure that all the important files, documents an...
 
Motivational keynote speakers for today’s business
Published by Chris Adam on January 6th 2012 | Business
Business today has become highly competitive and a proper strategy is to be adopted at every level t...
 
Important things to consider before buying a business for sale
Published by Herry Smith on February 29th 2012 | Business
Buying a business for sale is a best approach these days as we can’t know if our newly established...
 
Growth of the business depends upon the technology it adopts
Published by Oaktan Solution on April 18th 2012 | Business
Business Intelligence basically has various applications and also the technologies which are respons...
 
Forex indicator: is the best way to start business for beginners
Published by Forexindicators on November 30th 2011 | Business
The economic tools that can be used to understand chances in Forex handling are the indicators....
 
Creating a franchise business plan to evaluate investing in a franchise system
Published by Marcus Tarrant on July 11th 2012 | Business
Franchise businesses have a key advantage over exiting companies. They are usually franchising an ex...
 
Effective communication creates good business
Published by Hipolit Jan on December 14th 2011 | Business
Advertising firms has to continually propel public relations to be live in the market and of course ...
 
Unsecured business loans as fast and active funding option
Published by Macrobusinesscapital@gmail.com on December 30th 2011 | Business
Being a small business owner the need of financing is always there to get your operations running or...
 
Advantages of hiring SEO Next professionals for your online business
Published by James Blee on March 3rd 2012 | Business
SEO Next professionals are in fact the most sought after among business establishments that are look...
 
What is SEM and how does it affect your online business?
Published by Seexpertmoz on January 25th 2012 | Business
SEM or search engine marketing is a highly effective online marketing technique that targets search ...
 
Ups and Downs within CAD industry – Has it affected business?
Published by Macjohn on August 21st 2012 | Business
Auto CAD became so popular that all engineering services was christened under “CAD Services”. Ho...
 
Need of current business news
Published by Nidhigupta on May 14th 2012 | Business
A great importance is in the hands of stock market whenever a person decides to invest in stock mark...