Abstract
The importance of Hispanic-owned small businesses to the US economy has grown in recent years, yet, many of these businesses lag behind the performance of mainstream firms. One problem may be the lack of research on the strategic issues central to these businesses. This study attempts to fill this gap by examining the characteristics of Hispanic-owned small service and retail firms through the employment of the Churchill and Lewis (1983, Business Review, 30–50) organizational life cycle model. Five stages of business growth, typified by business performance indicators, problems, structural characteristics, and Hispanic owners’ demographics, were identified. Growth stages were found to be similar to those experienced by majority-owned small businesses. Theoretical and practical implications are discussed.
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