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$700-billion-dollar Hispanic business market at tipping point

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Small businesses line Bagley Avenue in the Mexicantown neighborhood of Southwest Detroit, Michigan.

Bryan Mitchell | Bloomberg | Getty Images

As gridlock over another round of stimulus for small business in Washington continues, 5 million Latinos are at risk of bankruptcy, a new study reveals on Monday. Pre-pandemic they were the fastest-growing cohort on Main Street and contributed 4% to U.S. GDP. Their demise portends a troubling trend that can upend communities across America.

Statistics reveal the story. Latino companies that applied for the Paycheck Protection Program saw a 21% drop in revenue from February through September while their costs for PPE and other safety measures rose and…



Source cnbc.com

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