So it would be reasonable to believe that Latinx employers—who are concentrated in growth industries such as transportation, construction, and leisure and hospitality—would also be enjoying funding and sales growth in the same proportion. But they aren’t, and that’s both a mystery and a shame. Only 3 percent of these founders have reached the $1 million mark in annual sales, according to the Stanford Latino Entrepreneurship Initiative (SLEI), part of the Graduate School of Business. That’s just a third of the numbers for the non-Latinxowned businesses, an extraordinary gap.
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