About 375,000 U.S. businesses are Hispanic/Latinx-owned. What three industries make up most of them?

Answer: 

1. Construction
2. Accommodation and food services
3. Professional, scientific, and technical services
   

Questions:

• What skills and qualifications are needed for a career in these fields? Are they applicable across all fields, or are some industry-specific?
• How would a person’s skills and qualifications need to be different to own a business in these fields rather than just being employed in them?
• What role does having mentorship in a specific industry play compared to someone starting a business with no experience?

Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.

Behind the numbers (US Census Bureau):

"Approximately 7% or 375 thousand businesses in the United States were Hispanic-owned in 2020. The top three sectors for Hispanic-owned businesses were: Roughly 16% Construction. These businesses had a total of 381,379 employees. About 13% Accommodation and food services. These businesses had a total of 50,231 employees. (Includes restaurants and food services.) Approximately 12% Professional, scientific, and technical services. These businesses had a total of 188,001 employees. (Includes accounting, engineering, architectural, veterinary services.)"

----------------

Check out more NGPF resources to celebrate Hispanic & Latinx Heritage Month!

----------------

 To receive a Question of the Day in your email inbox, subscribe to the NGPF Blog.

About the Author

Ryan Wood

Ryan is the Partnerships and Adoption Manager for Next Gen Personal Finance’s midwest region. He brings his experience as a former teacher, curriculum designer, and sales and marketing professional to state organizations and school districts in supporting the implementation of their personal financial education efforts. He graduated from the University of Wisconsin-Green Bay and earned his teaching credential from Saint Mary’s University in Winona, Minnesota. He proudly taught at two rural high schools in Wisconsin before transitioning to curriculum design at NGPF, and is now excited to be on the front lines in delivering the best possible financial education in the midwest. He and his wife have three beautiful daughters, each of which inspire him to share the impact of being sound financial stewards both at home and as lifelong learners.

More posts by Ryan