Market Profile

The Facts -

According to the U.S. Census Bureau Survey of Business Owners the number of African American Owned Businesses has Increased 45% between 1997 and 2002 to a total of nearly 1.2 million. Their total receipts and sales numbers have increased 24% in the same time period to the tally of over $88.6 million. The same trend can be found in all Minority Owned Businesses. Growth prevails in Hispanic Owned Businesses with an increase in ownership from 1.2 million to 1.57 million (31%) and sales and receipts figures totaling $221.9 million. Between 1997 and 2002 Women Business Owners saw a 20% growth in numbers to 6.49 million and a sales increase to $939.5 million.

As of 2006, The Center for Women’s Business Research projects that there are an estimated 10.4 million Women Owned Companies. This means that two out of five, 40% of all businesses in the United States are owned by Women. That 40% generates $1.9 trillion in sales. The Center for Women’s Business Research also reports that in 2006 a sub-group of Women Business Owners, Women of Color are shown to represent 21.4% of all Women Business owners, with 2006 sales revenue of $230 billion.

The U.S. Census Bureau Survey of Business Owners between 1997 and 2002 found that of those firms that responded over 3 million United States Veterans held interest in the company. That’s 14.5% of all firms that responded. Of those 3 million, 66% owned majority interest in the firm.