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Survey of Business Owners (SBO)

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1992 Survey of Business Owners Press Releases

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         **REVISED**  EMBARGOED UNTIL:  DEC. 12, 1995 (TUESDAY)


    Public Information Office                         CB95-219
    301-457-3030
    301-457-4067 (TDD)

    Eddie Salyers
    Valerie Strang
    301-763-5726

        BLACK-OWNED BUSINESS FIRMS UP 46 PERCENT OVER FIVE YEARS,
                   CENSUS BUREAU SURVEY SHOWS

         EMBARGOED UNTIL:  DEC. 12, 1995 (TUESDAY) - The number of
    African American-owned businesses in the United States increased
    46 percent from 424,165 to 620,912 between 1987 and 1992,
    according to a new Commerce Department's Census Bureau report
    entitled "1992 Black-Owned Businesses" (MB92-1), that will be
    published later this year.  Receipts for these firms increased by
    63 percent during the five-year span, from $19.8 billion to
    $32.2 billion.  The report does not include C corporations.
    (A C corporation is any incorporated business other than a
    subchapter S corporation.)

         The District of Columbia had the largest percentage of
    African American-owned firms, followed by Maryland and
    Mississippi.

         Two-thirds of African American businesses operated as a
    service or retail trade business in 1992.

         Receipts per firm averaged $52,000 for African
    American-owned firms, compared with $193,000 for all U.S. firms.
    Fifty-six percent of African American firms had receipts under
    $10,000; little more than 3,000 firms had sales of $1 million or
    more.

         The survey also shows that the 10 percent of African
    American-owned firms which had paid employees, accounted for
    70 percent of the gross receipts of African American firms.  Of
    these firms, 342 had 100 or more employees and accounted for
    $6 billion in receipts.

         Approximately 94 percent of African American firms were sole
    proprietorships in 1992.  Partnerships and subchapter S
    corporations comprised 2 and 4 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; a subchapter S corporation is an
    incorporated business with 35 or fewer stockholders.)

         The total number of all the nation's firms increased
    26 percent from 13.7 million in 1987 to 17.3 million in 1992.
    Receipts for these same businesses grew 67 percent, from
    $2 trillion to $3 trillion.

         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 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
    may also contribute to the differences.

                                   -X-

    Editor's note:  media representatives may obtain reproduced
    excerpts from the forthcoming "1992 Black-Owned Businesses"
    (MB92-1), from the Census Bureau's Public Information Office on
    301-457-3030; fax:  301-457-3670; or e-mail:  pio@census.gov.
    Non-media requests should go to the bureau's minority- and
    women-owned business information staff on 301-763-5726.  A notice
    will be issued when printed copies of the report are available.



    
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Source: U.S. Census Bureau | Survey of Business Owners | (301) 763-3316 | csd.sbo@census.gov Last Revised: November 16, 2012