General Stats and Comparisons
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Self-employment as a share of the labor group is 3.8 percent for African Americans; 6.4 percent American Indian, Eskimo or Aleut; and 10.1 percent Asian or Pacific Islander.
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Of U.S., non-farm businesses, 6.8 percent are owned by Hispanic Americans, 4.8 percent by Asian Americans, 5.2 percent by African Americans and 0.9 percent by American Indians. In 2002, minorities owned 4.1 million firms that generated $694.1 billion in revenues and employed 4.8 million workers.
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Of minority-owned businesses: 39.5 percent are Hispanic-owned, 30.0 percent are Asian-owned, 27.1 percent are African American-owned and 6.5 percent are American Indian-owned.
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Of the 4,514,699 jobs in minority-owned businesses in 1997, 48.8 percent were in Asian-owned firms, 30.8 percent in Hispanic-owned firms, 15.9 percent in African American-owned firms and 6.6 percent in American Native-owned firms.
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Minority-owned firms had about $96 billion in payroll in 1997.
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The minority-owned business share of U.S. firms was 6.8 percent in 1982; it grew steadily to 9.3 percent in 1987; 12.5 percent in 1992; and 14.6 percent in 1997.
Asian-Owned Businesses
Black-Owned Businesses
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Black-owned business are the fastest growing segment of new businesses, growing 45 percent between 1997-2002, with revenue growth 25 percent. The 1.2 million black-owned businesses in the United States employe more than 756,000 people and generate nearly $89 billion in business revenues.
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Almost 4 in 10 black-owned businesses (38 percent) were owned by women.
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New York had the most black owned firms, followed by California, Florida, Georgia, and Texas.
Hispanic-Owned Businesses
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Hispanic-owned businesses in the U.S. totaled 1.6 million firms in 2002, representing a 31 percent increase from 1997. Hispanic owned businesses employed 1.5 million people and generated $222 billion in revenue in 2002. Just under 4 in 10 of these firms were owned by people of Mexican origin.
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73 percent of Hispanic-owned businesses were in four states: New York, California, Texas and Florida.
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In 2000, 10.7 percent or 28.1 million people in the United States spoke Spanish at home, and 49 percent of them spoke English less than "very well."
American Indian- and Alaska Native-Owned Businesses
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In 2002, there were 201,387 American Indian- and Alaska Native-owned businesses with receipts of $26.9 billion in the United States.
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Asian-and Pacific Islander (API)-owned businesses in the U.S. totaled about 913,000 in 1997, employed more than 2.2 million people and generated $306.9 billion in revenues.
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Since 1997, the number of Native American-owned businesses has jumped by 84 percent to 197,300. 85 percent of these firms can be described as micro-enterprises.
Source: U.S. Small Business Administration Office of Advocacy, U.S. Census Bureau and the Corporation for Enterprise Development. |
