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Key statistics. There are over 161,000 Black-owned businesses in the U.S., according to the Census Bureau.. Black-owned businesses employed 1.4 million employees in 2021.
To give a clearer picture of minority-owned businesses in the United States, we’re breaking down some Hispanic small business statistics. Hispanic-owned business statistics. In October 2023, the ...
The first survey of minority-owned businesses covered 1969, and a parallel program began for women-owned businesses for 1977. Now titled the Survey of Business Owners, this program presents statistics according to the federal standard that allows respondents to report more than one race.
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 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
For example, African American-owned businesses comprise 2.3% of businesses in 2022 even though African Americans are 14.2% of the American population. [1] One explanation for this discrepancy is the history and persistence of discriminatory economic practices that result in a disparity in credit scores between white Americans and minority ...
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.
Contracts for minority-owned businesses on the rise. The report showed an upward trend of contracts awarded by the city to minority- and women-owned businesses from the 2018-2019 fiscal year to ...
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