Latina Business Owners

A survey of 242 Latina entrepreneurs across the country shows they are relatively young, tech savvy and optimistic.

The survey, conducted by the Latin Business Assn. and Los Angeles-based Data Trends, was released Monday at the LBA’s annual expo. The women were selected from a national database provided by the LBA.

About 45% had completed college or an advanced degree, a level of educational attainment higher than for Latinas overall.

Fully 73% projected an increase in sales for the coming year, but the businesses overall were small: About half had annual sales of less than $1 million. Computers are used by most of the respondents, but only 53% used computer technology for production purposes.

While more than half the companies provided health insurance to employees, only 16% provided a 401(k) or other retirement plan. Nearly 80% of the companies reported a majority-Latino work force.

The biggest challenges for Latinas--who are forming businesses an estimated four times the rate of the general population by one estimate--are getting financing, managing growth and finding skilled workers in the tight labor market.

The survey, conducted in August, also asked respondents to identify their support for a presidential candidate. They chose Democrat Al Gore over Republican George W. Bush by a 2-to-1 margin.