As you probably know by know, I’m an aficionado of niche practice. So I’m always looking for the next emerging niche to share, and with this month’s release of the Kauffman Index of Entrepreneurial Activity, I’ve stumbled on a treasure trove.
In 2010, Latinos experienced the largest entrepreneurial activity increase of all race demographics. In addition, the latest Census data also shows that between 2000 and 2010, the Hispanic population of the United States grew from 13 to 16 percent – or 35 million to 50 million. Thus, a niche law practice that caters to Latino businesses, or serves the Latino population may have strong potential.
The Kauffman study also found that certain states enjoyed higher entrepreneurial activity in 2010 than others. Nevada and Georgia ranked first, followed by California, Louisiana and Colorado. So if you’re interested in representing new businesses and start-ups and have some flexibility in where you can locate, these are the states to target.