EMBARGOED UNTIL: MARCH 6, 1996 (WEDNESDAY) Public Information Office CB96-29 301-457-3030 301-457-4067 (TDD) Valerie Strang Eddie Salyers 301-763-5726NEW YORK METRO AREA LEADS LIST FOR BLACK-OWNED FIRMS, LOS ANGELES TOPS IN WOMEN-OWNED BUSINESSES, CENSUS BUREAU REPORTS EMBARGOED UNTIL: MARCH 6, 1996 (WEDNESDAY) - The New York metropolitan area had the largest number of African American-owned firms in 1992, while the Los Angeles area had the most women-owned firms, according to two new reports released today by the Commerce Department's Census Bureau. The reports, "1992 Survey of Minority-Owned Businesses, Black" (MB92-1) and "1992 Women-Owned Businesses" (WB92-1) are part of the Census Bureau's 1992 Economic Census.
There were 39,404 African American-owned businesses in the New York metropolitan area in 1992, with receipts of $1.7 billion. The Washington, DC metropolitan area had the second largest number of African American-owned firms (37,988 and receipts of $1.7 billion), followed by Los Angeles (32,645 and receipts of $3.6 billion), Chicago (24,644 and receipts of $1.6 billion), and Atlanta (23,488 and receipts of $1 billion).
Nationwide there were 620,912 businesses owned by African Americans in 1992, 196,747 more than in 1987. These firms generated $32.2 billion in receipts in 1992, 63 percent more than the 1987 amount of $19.8 billion.
The Los Angeles metropolitan area had the most women-owned firms in 1992 at 232,723 and sales of $28.7 billion. The New York metropolitan area was second at 187,525 and $36.5 billion in sales, followed by Chicago (163,883 and receipts of $26 billion), Washington, DC (122,007 and receipts of $10.7 billion), and Philadelphia (95,441 and receipts of $15.8 billion).
The total number of individual proprietorships, partnerships and subchapter S corporations owned by women nationwide reached 5.9 million in 1992, representing 34.1 percent of all domestic firms. These businesses generated $643 billion in revenues and employed 6.3 million people. These data exclude 517,000 women-owned "C" corporations for which metropolitan area, city, and county data are not available.
Each report provides information on the number of firms, sales and receipts, and paid employees by industry group. The data are shown for the U.S., and selected metropolitan areas, cities, and counties.
The Census Bureau released excerpts from these reports in December (African American-owned firms) and January (women-owned firms). The excerpts provided figures on businesses for the nation as a whole and for states only.
The data in these reports were collected as part of the 1992 Economic Census from a large sample of all non-farm businesses filing tax forms as individual proprietorships, partnerships, or subchapter S corporations with $500 or more in receipts in 1992. Subchapter S corporations have no more than 35 shareholders and are not taxed as corporations.
The information was collected from a sample survey, and is therefore subject to sampling variability as well as reporting and coverage errors.
-X-Editor's note: media representatives may obtain copies of the reports from the Census Bureau's Public Information Office on 301-457-3030; fax: 301-457-3670; or e-mail: pio@census.gov. Other requests should go to the bureau's Minority- and Women-Owned Businesses Information Staff on 301-763-5726. In addition, selected tables will be available on the Internet at: http://www.census.gov/csd/mwb/1992.
