Advertisement

Annual Business Survey Release Provides Data on Minority- and Women-Owned Businesses

MBE Magazine Staff
Two women chatting at a table with paper and pens on the table.
Photo by mentatdgt from Pexels.

The U.S. Census Bureau recently released new estimates showing 1.1 million employer firms were owned by women and 1.0 million by minorities. According to the 2018 Annual Business Survey (ABS), covering year 2017, 5.6 percent (322,076) of all U.S. businesses were Hispanic-owned and 6.1 percent (351,237) were owned by veterans.

Additional statistics released include:

  • In 2017, the sector with the most women-owned businesses 16.9 percent (192,159) were in the health care and social assistance industry, followed by professional, scientific and technical services 16.4percent (185,649), and 11.7percent (132,894) in the retail trade industry.
  • The top sectors for Hispanic-owned firms were construction with 15.6percent (50,187) of all firms, followed by accommodation and food services 13.0percent (41,817), and professional, scientific and technical services 10.6percent (34,292). Hispanic firms in these top three industries employed approximately 1.2 million workers, had receipts totaling approximately $130.9 billion and an annual payroll of approximately $35.8 billion.
  • There were 555,638 Asian-owned businesses, with 23.9percent (132,698) in the accommodation and food services sector. Asian-owned firms had the largest receipts ($814.8 billion) among minority groups.
  • Black or African Americans owned 124,004 firms in 2017 with 32.0percent (39,714) of these firms in the healthcare and social services industry.

The ABS, sponsored by the National Science Foundation’s National Center for Science and Engineering Statistics (NCSES), and conducted jointly with the Census Bureau combined the Survey of Business Owners, the Annual Survey of Entrepreneurs, the Business R&D and Innovation for Microbusinesses Survey, and the innovation section of the Business R&D and Innovation Survey. The ABS measures research and development for microbusinesses, innovation and technology, and provides annual data on select economic and demographic characteristics for businesses and business owners by sex, ethnicity, race, and veteran’s status. Additional data on research and development and innovation will be released by NCSES in the coming months.

Source: Black PR Wire

Advertisement

Advertisement

Advertisement

Latest Stories...

Views

Make No Calculations for Tomorrow—It Does Not Belong to You!

Dr. Robert L. Wallace — May 21, 2025

Marketing & Branding

How Healthcare Influencers Are Changing the Game

JoAnne Gritter — May 21, 2025

Growth Strategies

7 Signs You’re Ready to Sell Your Business—From a Founder Who Lived It

Shelly Sun Berkowitz — May 21, 2025

BCH AMEN Corner Funding & Finance

Financial Wellness for Founders: A Missing Pillar in MBE Success

Sidney T. Curry and Saundra Curry — May 14, 2025

How Small Businesses Can Scale

Myrtle Bautista — May 14, 2025

The Franchise Architect

Chenelle Howard — May 11, 2025

Advertisement