The pace of Hispanic business start-ups in the United States increased by 23% in 2021 over pre-covid-19 pandemic levels, the White House reported Thursday.
In a report on entrepreneurial developments in the country released today, the government indicated that in 2021 Hispanics started new businesses at the fastest pace in a decade.
According to the report, Hispanics are more likely to become new entrepreneurs than any other racial or ethnic group.
As stated by the White House, 5.4 million applications were filed last year to create new businesses, a figure that is 20% more than any previously recorded.
2021 also saw the fastest growth in small business job creation, with 1.9 million jobs created in companies with 50 or fewer employees.