By REGAN MORRIS
Published: November 18, 2004
New York Times
Hispanic women are opening businesses at a rate far higher than the national average, a new study shows. To Tina Cordova, a Hispanic entrepreneur, the reason is obvious: economic desperation. While white women in the work force make about 77 cents to every dollar earned by white men, according to data from the 2000 census, Hispanic women are paid 53 cents.
With numbers like that, Ms. Cordova, 45, the president, majority shareholder and chief executive of Queston Construction Inc. in Albuquerque, said it was no wonder that so many Hispanic and other minority women take the plunge into entrepreneurship.
When she started her company in 1990 with $5,000 in savings, Ms. Cordova figured she had nothing to lose. After all, she said, if she failed she could always go back to her previous jobs as a waitress and a restaurant manager.
Many other minority women have made similar decisions to start businesses. Between 1997 and 2004, the number of firms owned by Hispanic women increased by nearly 64 percent, to 553,600, and their combined revenue climbed by more than 62 percent, to $44.4 billion, according to a study by the Center for Women's Business Research that was released Tuesday.