Sustaining momentum: Latino entrepreneurs and the future of US economic growth

Latino entrepreneurs are among the most dynamic engines of business growth in the United States. Between 2017 and 2022, Latino-owned employer firms—businesses with at least one paid employee—expanded in nearly 90% of U.S. metro areas. In 2022, more than 465,000 Latino-owned employer businesses supported 3.5 million jobs and generated over $653 billion in revenue, while in 2023 the total economic output of Latinos in the United States reached a record $4.1 trillion, making their contributions to wages, job creation, and regional growth indispensable to the national economy. 

Yet today’s business environment is marked by heightened federal policy volatility, including immigration enforcement, tariff uncertainty, and the pullback of public contracting and small business support programs. Because Latino-owned firms are concentrated in labor-intensive, place-based sectors, their experiences offer important insight into how broader economic and policy changes are unfolding across local economies and what it will take to sustain their momentum moving forward. 

On May 18, the Center for Community Uplift at Brookings and the United States Hispanic Chamber of Commerce held an event that examined where—and why—Latino-owned businesses matter. The discussion synthesized lessons and best practices during an uncertain federal policy environment, state-level variation, financing and capital access constraints, procurement dynamics, and shifts in institutional capacity. Together, these insights will inform a forward-looking framework for small business policy—one that prioritizes resilience, predictability, and competitiveness.