Central Texas Loves Hispanic-Owned Businesses
For business-owners, there’s no better way to show support than to contribute to the businesses that you love. A recent study reveals that in Central Texas, Hispanic-owned business are being showered with love, which is showing up in their revenues. Austin-area Hispanic-owned businesses saw their total revenue numbers increase 90 percent from 2007-2013, according to research by the Greater Austin Hispanic Chamber of Commerce.
A report in the Austin Business Journal read that “by 2020, some 51,000 Hispanic-owned businesses are expected to be in operation and contributing a total of $12.8 billion to the local economy.” Some of the results were first released by the chamber at its 'Celebrando Austin' awards in September.
Mark Madrid, president and CEO of the Greater Austin Hispanic Chamber of Commerce in a statement, "We believe small business is big business, and the strength of our economy in Central Texas will be directly related to the success of our Hispanic-owned businesses." He also said that the study helped them gauge the size and scope of Hispanic businesses. It also helped to reveal the top business concerns of those businesses in personnel management, business operations, finance, marketing and IT.
A breakdown of the stats across the region show that Hispanic-owned businesses in Travis county pull in the most revenue, earning $612,000 on average. That’s compared to $459,000 in Caldwell County, $304,000 in Williamson County, $264,000 in Hays County, and $212,000 in Bastrop County. Travis County Hispanic-owned businesses are also generally the oldest of those in Central Texas.
In the five counties that make up Central Texas, Travis County claims 64.4 percent of all the Hispanic-owned businesses. Williamson County has the second biggest share of Central Texas' Hispanic-owned businesses at 19.7 percent, followed by Hays County at 10.5 percent, Bastrop County at 3 percent and Caldwell County at 2.3 percent.