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Monday, August 08, 2005

Minority Entrepreneurship

From the Wall Street Journal (subscription):

According to preliminary estimates from the most recent "Survey of Business Owners," which is released every five years, the number of black-owned businesses grew by 45% between 1997 and 2002. Over the same period, the number of Hispanic-owned businesses jumped 31%; Asian-owned businesses rose by 24%; and women-owned businesses were up by 20%. By contrast, the total number of business in the U.S. grew by 10%.

While minority-owned concerns still make up a relatively small portion of the total and lag white-owned companies in revenue, progress is being made on both fronts. Between 1997 and 2002, minority proprietors increased their share of the nation's 23 million businesses to 18% from 15%. Black entrepreneurs saw a 30% increase in receipts, versus 22% overall.

This is a good start, but there's a long way to go.

1 Comments:

Blogger C R Mountjoy - GDF said...

Don't lumo yourself in with this group of minorities. First, it's an indignity. People are people, who cares who owns what. Second, the numbers of black owned businesses is probably mis-leading. Did this article say which of these groups have longevity of creating a going concern? Stats like this are another attempt to spin how the the plight of a specific group is overcome by riding on the shoulders of others who are more prosperous and enterprising. If you look at the data, I bet Asians and Hispanics surpass all other groups in terms of growth and stability. Lables are just bad!

8/11/2005 12:10 PM  

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