SANTA BARBARA, Calif. – In 1982, Hispanic Business magazine set out to map the scope and growth of the U.S. Hispanic small business marketplace by compiling a list of the top Hispanic-owned enterprises. The first list, which contained just 400 companies and was published in 1983, combined produced revenue of $3.71 billion. Today, the list presents 500 companies and boasts a total of $36.3 billion in revenues.
Widely recognized as the barometer of the U.S. Hispanic business economy, the June issue of Hispanic Business magazine takes a look back at the growth of the Hispanic Business 500®, how the list began and the 19 companies that have remained on the list from day one. CEOs from Hispanic-owned businesses offer their take on the importance of the list, and the magazine's top executive comments on its significance.
"The Hispanic Business 500 has brought legitimacy to Hispanic enterprise as a whole," said Jesús Chavarría, Hispanic Business magazine's founder, editor and publisher. "When one reviews the 500, you can't avoid the impression that there's breadth and depth to the Hispanic enterprise marketplace."
A searchable directory of the 2007 HB500® is available on the magazine's companion Web site, HispanicBusiness.com, coinciding with the release of the June print issue.
In addition, the 25th anniversary of the HB500 will be one of the focal points of Hispanic Business' 17th annual EOY Awards event, taking place Nov. 8 in Los Angeles. Hispanic Business magazine's EOY is dedicated to celebrating the successes of U.S. Hispanic entrepreneurs in five major categories: Heavy Industry, Infobusiness, Latina, Rising Star and Trade Industry.
Other featured stories in the June issue of Hispanic Business magazine include:
BRIGHTSTAR TOPS LIST: Telecom equipment provider Brightstar Corp. shines brighter than any other U.S. Hispanic-owned company as it rises to the top of the HB500 for the first time with $3.6 billion in 2006 revenues. And the Miami-based company shows no signs of complacency. It touts itself as the world's largest wireless phone distribution and supply chain solutions company, but that doesn't satisfy CEO R. Marcelo Claure. "Just because we are the world's largest on a combined basis doesn't mean we are the largest in every country that we are in," he said.
WHOLESALE SECTOR BOOMS: Although it contains just 73 companies, the wholesalers combined for $7.8 billion in 2006 revenues – 21 percent of the list's total – to compose the top sector in the HB500. The sector, which features companies such as Brightstar, Quirch Foods and Urbieta Oil, reported a near 41 percent increase in revenues compared to wholesalers on last year's list. And average company revenue also grew by 31.2 percent, which topped the other seven sectors.
Q&A WITH IRMA ELDER: The CEO of the Elder Automotive Group shares her tale of going from wife, homemaker and mother of three to a widowed CEO, taking over the family business – a Ford dealership in Troy, Mich. – when her husband, James Elder, died suddenly in 1983. She speaks of the challenges she faced as a Hispanic female exec in the 1980s, her role models, her future plans and the changes she has seen in the auto industry over the past 20 years.
About Hispanic Business®
For more than a quarter of a century, Hispanic Business Media has been the source for the latest trends, research and reporting that drive growth for Hispanic-owned companies. Hispanic Business magazine, our award-winning publication, and HispanicBusiness.com, provide readers in the United States and around the world with the most relevant and data-driven news on the U.S. Hispanic marketplace. Hispanic Business Media properties include Hispanic Business magazine, HispanicBusiness.com, Hispanic Business Events - including Hispanic Business magazine EOY® Awards, Woman of the Year (WOY) Awards - as well as HireDiversity.com®. HispanTelligence® is the research division of the company.
Hispanic Business magazine and HispanTelligence are registered trademarks of Hispanic Business Inc. 2007 Hispanic Business Inc. All rights reserved.
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Contact: Hillary Lannan
(805) 964-4554 x308
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