The dictating presence of the Hispanic entrepreneurs in the US commerce streets can be well felt from the latest figures being presented by U.S. Census Bureau’s "2002 Survey of Business Owners: Hispanic-Owned Firms".

The report based on administrative records and a survey of 2.4 million businesses defines Hispanic-owned businesses as private companies in which at least 51 percent of the owners are Hispanic and accentuates the impact of their swarming trade set ups on nation’s economy.

With the number of Hispanic-owned businesses in the United States growing at 31 percent between 1997 and 2002 - three times the rate for all businesses the city of New York takes the lead with its Hispanic entrepreneurs opening for business nearly twice as fast - showing a 57% increase. However the credit for the growth is well deserved by the one-person enterprises counted as nearly 1.4 million forming the majority in the Hispanian domain along with the other 13 percent Hispanic-owned firms nationwide employing more than 1.5 million people.

The exploding Hispanic consumer market can be attributed to the huge gush in the Latino community in US over recent years. As said by Michael Barrera, president of the U.S. Hispanic Chamber of Commerce Hispanic consumers spend 0 billion a year, a figure that is expected to climb to trillion by the end of the decade and "A lot of Hispanic businesses are going to benefit from that."

The community has outshined in the US business scenario in spite of the stumbling blocks like language barriers and funding issues impeding their way. Clara Rodriguez, a sociology professor at Fordham University applauding the manner in which the Hispanic immigrants have fueled much of the growth, in businesses said “As with all immigrant groups, the first who come tend to be more entrepreneurial and more daring."

The state of Miami-Dade had the second most Hispanic-owned firms in the country in 2002 (163,188), behind Los Angeles County (188,472) with the Bronx, Queens following the beeline with the construction, service sectors witnessing the utmost swell along with imaginative business set ups. The community accounting for half of the nation's population growth since the start of the decade embracing the achievement hopes to get more recognition and stronger financial espouse from federal and local government in lieu of their achievements.