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Minority business enterprise (MBE) is an American designation for businesses which are at least 51% owned, operated and controlled on a daily basis by one or more (in combination) American citizens of the following ethnic minority and/or gender (e.g. woman-owned) and/or military veteran classifications: [citation needed] African American
Minority-owned businesses are those that are at least 51 percent owned, operated and controlled by a minority group. Black- and African-American-owned businesses fall under this umbrella.
In 2021, Black- or African-American-owned businesses brought in an estimated $183.3 billion in annual receipts, according to data from the U.S. Census Bureau.
Minority-owned businesses make up about half of all the new businesses created in the last decade. According to the 2022 Annual Business Survey from the U.S. Census Bureau, 1.2 million or 21 ...
Diverse- and women-owned business enterprises are among the fastest-growing segments of the U.S. economy. Diverse-owned businesses generated an estimated $495 billion in annual revenue in 1997 [5] and employed nearly 4 million workers, while women-owned firms employed about 19 million people [6] and generated $2.5 trillion in annual sales.
Many queer-owned businesses cater specifically to marginalized people by offering products that are not otherwise widely available. [1] They are commonly more likely to have difficulty acquiring financial backing. [2] Some government institutions and municipalities have special programs to support minority-owned businesses and have started to ...