Monday, May 10, 2004

Hispanic business owners on the rise

"There are 1.2 million Hispanic-owned firms in the United States — about one of every 16 companies. Ford says there could be 2 million by 2007. What's more, many Hispanic firms are becoming behemoths with growing spending plans. Annual revenue at each of the top 10 exceeds $400 million, says Hispanic Business magazine's most recent list of the United States' 500 biggest."

"Many, such as Goya Foods in Secaucus, N.J., still cater to the traditional sweet spot plumbed by Hispanic firms: other Hispanics. Goya, whose rice and snacks are staples in many Hispanic homes, ranks No. 4 on the magazine's list with $735 million in revenue."

"Still, more Hispanic companies like AMGtech are aiming for hot sectors — like tech consulting services — far from the Hispanic community. That boosts their revenue and spending muscle, drawing more attention from marketers like eBay and Ford."

The Tennessean

No comments:

Post a Comment

Related Posts Plugin for WordPress, Blogger...