Why the need for the RILPBN?
Consider the
following statistics compiled by the US Census Bureau:
There
are nearly 3 million Latino-owned businesses throughout the United States
generating nearly $350 billion in annual revenue.[1]
Latinos
constitute 53 million population of the United States as of July 1, 2012,
making it the nation's largest ethnic or racial minority, and 17 percent of the
nation's total population[2].
132
million Latinos, the projected Hispanic population of the United States in
2060. According to this projection, the Hispanic population will constitute 31
percent of the nation's population by that date.[3]
2nd
Ranking of the size of the U.S. Hispanic population worldwide, as of 2010. Only
Mexico (112 million) had a larger Hispanic population than the United States (53
million).[4]
Rhode Island Latino-owned business jumped from 3,415
in 2002 to 5,764 in 2007, an increase of 68.8 percent. Over the same time
period, revenues increased by 115.4 percent, from 213.7 million in 2002 to
$460.4 million in 2007.[5]
$2.4
billion Latino purchasing power in Rhode Island totaled[6]
138,500 Latino population of Rhode Island, or 13.2% of
the state population[7]
Over
the past decade (2000-2010), Rhode Island’s Latino population grew 44 percent,
adding almost 40,000 residents.[8]
There is untapped Latino business potential in Rhode
Island that could help business owners more while boosting economic growth.[9]
Clearly, the Latino community is an emerging, increasingly
powerful force. Yet, Latino businesses have traditionally been, and continue to
be, under-served and represented.
Recognizing this, the RILPBN is
committed to helping Latino and Minority-owned businesses thrive by focusing on
advocacy, providing business development and training and promoting business
opportunities across industries.
Through its array of innovative
programs, services and events that create growth and enhance empowerment, the
RILPBN contributes to the advancement of the Latino community, and the
prosperity of Rhode Island and the nation.
[1] Source for statements in this section: Statistics for
All U.S. Firms by Industry, Gender, Ethnicity, and Race for the U.S., States,
Metro Areas, Counties, and Places: 2007, Table SB0700CSA01
<http://factfinder2.census.gov/faces/tableservices/jsf/pages/productview.xhtml?pid=SBO_2007_00CSA01&prodType=table>
<http://factfinder2.census.gov/faces/tableservices/jsf/pages/productview.xhtml?pid=SBO_2007_00CSA01&prodType=table>
[2] 2012 Population Estimates <http://factfinder2.census.gov/faces/tableservices/jsf/pages/productview.xhtml?src=bkmk>
[3] Source: Population Projections <http://www.census.gov/newsroom/releases/archives/population/cb08-123.html>
[4] Source: International Data Base <http://www.census.gov/population/international/data/idb/informationGateway.php>
[6]
The Multicultural Economy 2010 (Athens, GA: Selig
Center for Economic Growth, University of Georgia, 2010)
[7]
U.S. Census Bureau’s 2012 American Community
Survey
[8] PolicyLink and
PERE analysis of equity in Rhode Island
[9] The Growth of
Latino Small Businesses in Providence, Federal Reserve Bank of Boston, https://www.bostonfed.org/commdev/c&b/2012/spring/growth-of-latino-small-businesses-in-providence.htmin-providence.htm
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