--(BUSINESS WIRE)--Stanford Graduate School of Business:
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WHAT: |
Stanford Graduate School of Business (GSB) and the Stanford Latino Entrepreneurship Initiative (SLEI) will introduce new research on the current state of Latino entrepreneurship. The findings will be discussed with business leaders, including News Corp Chairman and CEO Rupert Murdoch and former Telstra CEO Sol Trujillo. |
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| SLEI surveyed more than 4,900 companies around the U.S. and findings include the following: | ||||||
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Among large Latino-owned businesses (those with over $1 million in revenue or more than 50 employees) 40-50% are owned by immigrants. |
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The number of Latino-owned businesses has grown 300% faster than the national average over the last decade. |
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Latino-owned businesses are located all over the U.S., with 75% in majority non-Latino neighborhoods. |
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| SLEI is a Stanford University research initiative housed within Stanford GSB and conducted in collaboration with the Latino Business Action Network. SLEI has created a comprehensive database of more than 1.3 million U.S. Latino-owned businesses and a survey research panel of over 4,900 independent companies. | ||||||
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WHEN: |
WEDNESDAY, JAN. 18, 10 a.m. to 12 noon. Media interviews are available after the event. |
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WHO: |
Rupert Murdoch, CEO and Chairman of News Corp |
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Sol Trujillo, former CEO of Telstra Corp |
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Jerry Porras, Lane Professor Emeritus of Organizational Behavior and Change |
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Doug Rivers, Senior Fellow, Hoover Institution |
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Phil Pompa, Executive Director, Latino Business Action Network |
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Victor Arias, Stanford Board of Trustees Emeritus, MBA '82 |
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Natassia Rodriguez Ott, PhD, Research Analyst, SLEI |
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Fred W. Alvarez, Stanford Board of Trustees, Partner, Jones Day |
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WHERE: |
Oberndorf Event Center (North Building Room 302) | |||||
| Stanford Graduate School of Business | ||||||
| 655 Knight Way | ||||||
| Stanford, CA 94305 | ||||||
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WHY: |
This year immigration and the economic impact of immigrants on the U.S. economy are likely to take a prominent role in policy discussions due to the 2016 presidential elections. This new research proves timely as it sheds light onto the economic impact that Latino immigrant-owned businesses have on the U.S. | |||||
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There are currently more than 4 million Latino-owned businesses in the United States. According to data reported by the U.S. Hispanic Chamber of Commerce, these businesses represent the fastest-growing sector of the American economy in number. Estimates peg growth at a 43% rate between 2007 and 2015, compared with 20.2% for all U.S. firms. While only 2% of Latino-owned businesses earn over $1 million a year in revenue, SLEI’s research enables a better understanding of growth factors that drive businesses to scale. These businesses have the potential to power significant growth in the U.S. economy. |
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