Boom: Latino business 'thriving and expanding' in 2019

FPI / October 20, 2019

Democratic Party media and candidates continue to promote a narrative portraying Hispanics and other minority groups as victims of the Trump revolution.

Kenia Castillo, operator of the popular Canave restaurant in Inwood, New York is one of thousands of Hispanic business owners who disagree.

Castillo told the New York Post: “This is the American Dream for us. We keep getting busier and are now looking at expansion.”

A new study by Biz2Credit also shoots down the Democrats’ claims, noting that Latino-owned businesses are flourishing under President Donald Trump’s economic policies.

The Trump economy has paved the way for businesses owned by Latinos to enjoy a 46 percent jump in revenue in 2019, said Rohit Arora, CEO of Biz2Credit.

“Latino businesses are thriving and expanding, and they help contribute to the overall strength of the U.S. economy,” Arora said.

The study found that the top five states for Hispanic owned businesses are California, Texas, New York, Georgia, and Pennsylvania.

Alfredo Ortiz of the Job Creators Network said: “The fact is that Hispanics are flourishing in the Trump economy. Democrats asserting the contrary is a mere partisan talking point to try to deny Trump the Hispanic support he has earned and which may decide the presidential election outcome next year. Expect Democrats to increase their identity politics attacks in an effort to skew Latinos against Republicans over the next year and a half,” Ortiz said.

In September of 2018, Arora called the rapidly expanding Latino community a “powerful force” and stated that Latino-owned businesses “contribute more than $700 billion to the economy annually.”

“The achievements of Latino small businesses are impressive when you consider it is often hard for them to gain access to capital. Yet they are making progress,” Arora said.

Manuel Chinea, COO of Popular Bank, noted that “By 2050, Latinos are expected to comprise almost 30 percent of the population, compared to 18 percent today. The growth of Latino businesses is undeniable and will undoubtedly increase as this important group becomes a larger section of the population.”

Free Press International