LatinaLista — Hispanic Business magazine has released its annual list of the top 500 Hispanic businesses in the nation. During this turbulent economic time, it’s expected that these businesses would be suffering hardships along with the rest of the country — construction, automotive and wholesale are especially hard hit now.
The magazine reports that revenues for the Hispanic 500 have slid back to lows not seen since 2002 and only for the third time in the directory’s 26-year history.
Yet, editors at Hispanic Business have found some glimmers of light among the dismal news:
The service sector outperformed all sectors nationwide. Also, while some pockets of the country posted decreased revenues, “companies in California and Texas posted rising revenue of 10.6 percent and 16.3 percent, while companies in the Northeast made strong gains in revenues, 34 percent in New York and 21 percent in New Jersey.”
However, what the list really shows is that even in those sectors hardest hit by the economy there are a few who are able to break through and actually post success stories because they have a fundamental understanding that hard times call for creative solutions.
The top ten of the Hispanic Business 500 are:
1. Brightstar Corp. — Wholesale
2. Molina Healthcare Inc. — Service
3. The Burt Automotive Network — Automotive
4. The Related Group of Florida — Construction
5. MasTec Inc. — Construction
6. International Bancshares Corp. — Finance
7. Ancira Enterprises Inc. — Automotive
8. The Diez Group — Manufacturing
9. Greenway Ford Inc. — Automotive
10. Lopez Foods Inc. — Manufacturing
New survey shows Hispanic businesses in hardest hit sectors are resilient
