Latinos between the ages of 18 and 34 are more entrepreneurial than whites and African Americans in the same age group, according to a recent report from the Ewing Marion Kauffman Foundation.
The foundation, which supports entrepreneurship, found that young people in the U.S. are interested in their own ventures, but 64 percent of Latinos and 63 percent of African Americans are more motivated to start their own businesses, according to a recent article.
The report suggests that the reasons are many for the findings, including:
- 16 percent of Latinos and 22 percent of young African Americans are unemployed.
- Only 5 percent of young African Americans and 6 percent of young Latinos own their own businesses.
- Women were less likely to want to own their own businesses.
- Latinos and African Americans see credit as an obstacle to business ownership.
- Access to education and training is viewed an obstacle to starting a business.
- The majority of those in the study supported student loan forgiveness.