![]() And despite the improving revenue numbers, average Latino business revenues were still $96,000 lower than White-owned businesses', underscoring the challenges that lie ahead. Average operating expenses represented 67% of revenue in 2020 vs. ![]() But this expansion was also tempered by the reality of growth costs. ![]() Credit scores among Latino entrepreneurs rose from an average of 588 to 618. The average annual revenue of Hispanic-owned businesses increased 10% to over $525,000 yearly. The 2019-2020 period was, in some ways, a record-breaking year for Latino entrepreneurs, buoyed by the strength in the general economy. That means that there is underlying strength in the Latino business community that can help in their emergence from the ravages of Covid-19. Still, the pandemic tells only half the tale of where Hispanic businesses stand today, because prior to the crisis, Latino entrepreneurs were making great strides - increasing their funding, improving their credit, and their revenue growth.
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