Latino-owned businesses booming in Utah

The Census Bureau has reported that the growth rate for Hispanic-owned such businesses in Utah is among the fastest in the nation. The number of Hispanic-owned businesses in Utah jumped by 78 percent between 2002 and 2007 — and revenues rocketed up by almost 138 percent.

Businesses owned by whites in Utah didn't do poorly, either. In fact, they had the second-fastest growth in the nation in that five-year period before the recession hit. In 2002, it estimated that Hispanics owned 5,177 businesses in Utah. Five years later, it estimated that they owned 9,221.

Hispanics still owned only about 3.7 percent of all businesses in Utah — while they make up 11.6 percent of the population, the Census Bureau estimated. That 78.1 percent growth for Hispanic-owned businesses in Utah was eighth-fastest among the states. The Deseret News

For more information about the Census Bureau's Survey of Business Owners, see:
http://www.census.gov/econ/sbo/