Saturday, September 04, 2010

From The Washington Post — Minority-owned businesses on the rise, data show

By Carol Morello, The Washington Post

Minorities own one in five small businesses in the United States, while women own almost one in three, according to new census statistics showing the numbers of minority and women entrepreneurs soaring between 2002 and 2007.

While the total number of U.S. companies increased 18 percent during the period, from 23 million to 27 million, the census survey of business owners showed outsized gains for minority-owned businesses. Firms owned by blacks leaped 60 percent. There was a 43 percent jump in Hispanic-owned businesses and a 40 percent increase for Asian firms. Firms run by whites, in contrast, rose just 13 percent, though they still account for 83 percent of all companies.

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