Hispanic Small Business Owners Confident about the Future
Hispanic Small business entrepreneurs are confident the business climate will prove favorable in the decade ahead, according to the second annual Bank of America Business Advantage 2018 Hispanic Small Business Owner Spotlight (PDF).
Bank of America surveyed nearly 400 Hispanic business owners across America to shine a light on the aspirations and concerns of this growing segment, and to examine the similarities and differences that exist when compared to non-Hispanic peers. For instance, Hispanic entrepreneurs feel a greater sense of confidence at both the local and national level when compared to their non-Hispanic contemporaries. This optimism is long-term, with most small business owners surveyed responding that the next decade will see ongoing prosperity.
Additional highlights include a focus on employee retention:
- 81% of Hispanic business owners believe the ability to attract and retain quality employees positively impacts their business growth
- 30% of Hispanic Business owners made it a goal to invest in their employees over the last two years – compared to 14% of non-Hispanic business owners
For a complete, in-depth look at the insights of the nation’s small business owners, download the Bank of America Business Advantage 2018 Hispanic Small Business Owner Spotlight (PDF).