1992 Survey of Business Owners Press Releases
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LARGE INCREASE IN NUMBER OF ASIAN, PACIFIC ISLANDER,
AMERICAN INDIAN, AND ALASKA NATIVE BUSINESSES
BETWEEN 1987 AND 1992, CENSUS BUREAU REPORTS
EMBARGOED UNTIL: AUGUST 1, 1996 (THURSDAY) - The number of businesses
owned by Asians, Pacific Islanders, American Indians, and Alaska Natives in
the United States increased 61 percent from 439,271 in 1987 to 705,672 in
1992, according to a report released today by the Commerce Department's
Census Bureau, entitled "1992 Survey of Minority-Owned Business
Enterprises--Asians and Pacific Islanders, American Indians, and Alaska
Natives" (MB92-3). This compares to a rate increase of 26 percent for all
U.S. firms, from 13.7 million in 1987 to 17.3 million in 1992.
Receipts for these minority-owned businesses increased by 159 percent
during this five-year span, from $40 to $104 billion. In comparison, receipts
for all U.S. firms grew 67 percent, from $2.0 to $3.3 trillion.
The number of businesses owned by Asians and Pacific Islanders increased
56 percent over this five-year period from 386,291 to 603,439, while receipts
increased 163 percent from $36.5 to $96.0 billion.
The number of American Indian- and Alaska Native-owned businesses
increased 93 percent from 52,980 in 1987 to 102,234 in 1992. Receipts for
these businesses increased by 115 percent from $3.7 to $8.1 billion.
Due to sampling methodology, detailed estimates are not available for all
the minority-owned firms in the survey. Therefore, the following statistics
cover 606,438 of the total number (705,672) of businesses reported in the
Receipts per firm averaged $165,000 for firms owned by members of these
four minority groups, compared with $193,000 for all U.S. firms. Thirty-five
percent or 212,928 of these minority-owned businesses had receipts under
$10,000, while 12,517 of these firms had sales of $1.0 million or more.
The survey also shows that the 22 percent (136,000 firms) of Asian-,
Pacific Islander-, American Indian-, and Alaska Native-owned firms with paid
employees accounted for 81 percent of gross receipts of these minority-owned
firms. Of these firms, 705 had 100 or more employees and accounted for
$17.9 billion in receipts.
The service industries accounted for 45 percent of the businesses owned
by Asians, Pacific Islanders, American Indians, and Alaska Natives but only
26 percent of gross receipts. The retail trade industry accounted for the
next largest concentration of these minority-owned firms at 22 percent of the
firms and 29 percent of the receipts.
Approximately 83 percent of these firms were sole proprietorships in
1992. Partnerships and subchapter S corporations comprised 8 and 9 percent,
respectively. (A sole proprietorship is an unincorporated business owned by
an individual; a partnership is an unincorporated business owned by two or more
persons; and a subchapter S corporation is an unincorporated business with
35 or fewer shareholders.)
Three states--California, New York, and Texas--accounted for 55 percent
of the firms owned by Asians, Pacific Islanders, American Indians, and Alaska
Hawaii had the highest percentage of firms owned by members of these
minority groups at 49 percent; 44 percent of the receipts in the state were
from these minority-owned businesses. California ranked second with 10
percent of all firms and 9 percent of all receipts. Alaska was third with
7 percent of all firms and 5 percent of all receipts.
The report contains information on the number of firms, receipts, number
of paid employees, and annual payroll. These data are presented by geographic
area (the nation, states, and selected metropolitan areas, counties, and
cities), industry, size of firm, and legal form of organization with comparative
1992 data for all U.S. firms.
The data in this report were collected as part of the 1992 Economic
Census from a large sample of all non-farm businesses filing tax forms as sole
proprietorships, partnerships, or subchapter S corporations (corporations
other than subchapter S were excluded), and with receipts of $500 or more in
1992. The report does not include C corporations, which are legally
incorporated businesses with no limits on their number of shareholders.
The information was collected from a sample survey, and is therefore
subject to sampling variability as well as reporting and coverage errors.
Comparisons to 1987 should be done with extreme caution because changes in tax
laws cause inconsistencies between the 1987 and 1992 data. Changes in survey
methodology also may contribute to the differences.
Editor's note: Selected tables from the report will be available on the
embargo date on the Internet at: http://www.census.gov/agfs/www/smobe.html
ASIAN-, PACIFIC ISLANDER-, AMERICAN INDIAN-, AND ALASKA
NATIVE-OWNED FIRMS BY GROUP: 1992
Total 705,672 104,100
Asians and Pacific Islanders 603,439 96,048
Asian Indian 93,340 19,284
Chinese 153,096 30,189
Japanese 68,675 12,597
Korean 104,918 16,170
Vietnamese 59,674 4,313
Filipino 67,625 4,781
Hawaiian 11,587 1,058
Other Asian and Pacific Is. 44,524 7,656
American Indians and Alaska Natives 102,234 8,053
American Indian 95,003 7,415
Aleut 2,738 222
Eskimo 4,493 416