Latino Businesses Surge 65% in North Carolina

When Marco Euceda arrived in North Carolina from Honduras in 2003, he carried a childhood dream of running his own company. Today, his remodeling and construction business employs 10 people in the Triangle region and serves everyone from homeowners to nursing facilities.

His story mirrors a powerful economic shift happening across the state. Between 2017 and 2022, Latino business ownership in North Carolina jumped nearly 65%, reaching 4.7% of all businesses statewide.

Behind those numbers are about 80,000 immigrant entrepreneurs driving job creation and community transformation. According to the state Hispanic Chamber of Commerce, these businesses generate more than $2.5 billion in revenue annually.

"Small businesses are the backbone of our area," said Atiba Johnson, president of the Wilmington Minority Chamber of Commerce. "If minority business owners did not exist in this area, the economy would collapse."

The impact shows up in daily operations across North Carolina. Euceda's company buys materials, fuel, and equipment while creating jobs for families. Isabela Luján, who owns Casa Oro Property Group in Wilmington, has watched the Latino business community expand dramatically since 2018.

"When I arrived, there were only three real estate agents working almost exclusively with the Latino community, and now there are many more," said Luján, who founded the Latin American Business Council of the Wilmington Chamber of Commerce. A new generation of bilingual entrepreneurs is expanding beyond serving just the Hispanic community to working with the broader population.

THE RIPPLE EFFECT

These businesses are transforming entire sectors beyond their immediate communities. Young bilingual entrepreneurs are bridging cultural gaps in real estate, construction, food services, and retail, creating economic opportunities that benefit everyone.

The growth happens during National Small Business Week, which President Trump recently recognized by noting that more than 36 million small businesses employ nearly half of America's workforce. Latino entrepreneurs are becoming an increasingly vital part of that foundation.

Challenges remain, particularly around access to capital. Only 36% of Latino-owned firms receive full bank financing, compared with 50% of white business owners. Many operate with limited financial systems that make expanding difficult.

Workforce availability and immigration policy uncertainty also create pressure. A proposal in the state General Assembly would expand E-Verify requirements from businesses with 25 employees down to just 5, adding uncertainty for construction companies already facing rising costs.

But entrepreneurs like Euceda keep pushing forward. "We are trying to keep fighting and support our families, and also be a vehicle for other families to sustain themselves, because it creates job opportunities for new people," he said.

During National Small Business Week, the organization "Aquí: The Accountability Movement" launched a campaign showing that if just 10% of U.S. households spent $30 at Latino businesses this week, it would generate $400 million in economic activity.

The message is clear: Latino entrepreneurs aren't just surviving in North Carolina's economy; they're helping build it.