Hispanic-owned businesses spike in Mississippi

“A Small Business Administration report released in April showed about 9.6 percent of all Hispanic-owned businesses were in retail trade. This sector followed construction 13.5 percent, administrative support services 13.2 percent and health care 11.2 percent nationally.

Hispanic-owned restaurants and bars in Mississippi increased roughly from 44 in 1997 to 101 in 2002, said Lee Wentela, chief of the Economic Census Branch. Sales at those firms went from $8.6 million to $32.4 million – a 277 percent increase – in the same period. Nationally, Hispanic-owned establishments grew 38 percent.

The $32.4 million is about 15 percent of the $213 million in reported earnings for Hispanic-owned businesses in Mississippi in 2002, the latest figures available.”

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