Latino-founded businesses are booming, yet less than 2 percent of Latino entrepreneurs ever make it past the $1 million revenue mark, according to the U.S. Census Bureau. Of the 1.4 million Latino-owned companies in the United States, the average has $156,000 in annual sales, revealed a study from the Latin Business Action Network (LBAN).
That's what makes the following group of Latino founders the ones to watch.
The Stanford Latino Entrepreneurship Initiative, a collaboration between Stanford University and LBAN, identified eight Latino founders generating well over $1 million in annual revenue or who have received at least $1 million in funding. All completed a Latino entrepreneurship program at Stanford as well.
Between 2007 and 2012, 86 percent of the growth in all small businesses could be attributed to Latino-owned businesses. Imagine what Latinos can do for business formation and job creation as more reach the success level of the eight founders on this list, provided exclusively to CNBC.
— By Claudine Hutton, special to CNBC.com
Posted 21 April 2016