Minority Owned Small Business By the Numbers

The Overall Picture

• Minorities own 15.1% of all businesses in the United States

• More minority business enterprises are being created at every level, from small/micro
  operations to rapidly growing technology companies. According to this report, State of Minority
  Business Enterprises: An Overview of the 2002 Survey of Business Owners, minority-owned
  firms generated over $668 billion in annual sales, and employed about 4.7 million people in
  2002.

• Businesses grossing over $500,000 annually in sales represented 75 percent of all minority
  annual gross receipts and 73 percent of all employees in the minority business community.

• Using a proxy for measuring minority business growth, Black-owned firms had the highest growth rate for several measures between 1997-2002

Source: State of Minority Business Report 2002

Where are Minority Owned Businesses Located?

• 57% of all minority businesses in the nation resided in California, Texas, New York, and Florida in 2002

• Fastest growth in number of minority owned firms occurred in Nevada, Georgia, New York, Florida, and Minnesota between 1997-2002

Minority Owned Business % of Firms Owned By:

Hispanic: 40.2%

Asian: 28.1%

Black: 28%

American Indian: 6.7%

Source: SBA, "Dynamics of Minority-Owned Employer Establishments, 1999-2001," February 2005

Four Year Survival Rates:

Sources of Capital (click for larger)