Members of the Hispanic and Latino community are opening more small businesses this year in the U.S. according to the U.S. Business Bureau. This also means a growing number of successful Hispanic and Latino entrepreneurs in the country.

Latino Business
Pexels

2020 is a good year for Hispanic and Latino entrepreneurs in the U.S. There is a surge of opening more small businesses owned by Latino and Hispanics according to a published article in The Guardian.

In fact, the JP Morgan Chase & Co. posted on its website that the Latino-owned businesses may be the country's economy's best bet.

They also found out that Latino and Hispanics are opening more small businesses in the country compared to other races and groups. They estimate that Latino entrepreneurs will make up 29 percent in the country by 2050.

It is not a surprise anymore why many Hispanic and Latino entrepreneurs thrive in the United States. Here are some of them:

1. Alberto Perez- Zumba Fitness

He is also called through his nickname as "Beto." He started his career as an aerobics instructor in Colombia and later came up introducing Zumba. At the time, he also improvised new exercise techniques for a class he was taking in America.

Today, there are more than 200,000 Zumba Fitness classes around the world and it is estimated that more than 15 million people are enrolled in Zumba classes in different locations.

2. Jorge Perez- The Related Group

Jorge Perez was born in Argentina and arrived in the United States in 1968. He settled in Miami and set up affordable buildings and has made a name in the housing empire. Jorge Perz co-founded The related Group along with New York developer Stephen Ross.

Today, his company focuses on high-end condominiums and his net worth has already reached billions of dollars. In fact, because of his achievement in business, he is now called "The Condo King of South Florida."

3. Carlos Castro- Todos Supermarket

Carlos Castro's entrepreneurship journey was not easy. He first arrived in the U.S. illegally and was deported back to El Salvador. He tried to enter the United States legally for the second time and this is when his career as an entrepreneur began.

He founded the Todos Supermarket in 1990. It became the first supermarket that directly catered to the Latino shoppers living in the Washington D.C. area.

4. Marcelo Claure- BrightStar and Sprint

Marcelo Claure could perhaps one of the most well-known and successful entrepreneurs in the U.S. today. He began his journey when he founded the mobile device BrightStar. He then became the Chief Executive Officer of Sprint.

Today, his company serves over 200 carriers in around 50 countries worldwide and has an annual revenue of $7 billion.

5. Tony Jimenez- MicroTech

Tony Jimenez had served and spent 24 years in the military. He later worked closely with the Department of Defense on a variety of platform transformation challenges. This led him to establish MicroTech that specializes in IT issues for both government and private sectors. Today, he is contracted to on a hundred federal government projects.