Survey of Business Owners (SBO)

1992 Survey of Business Owners Press Releases

          
             EMBARGOED UNTIL: 10 A.M. EST, NOVEMBER 18, 1996 (MONDAY)

    Public Information Office                                          CB96-188
    301-457-3030/301-457-3670 (fax)
    301-457-4067 (TDD)
    e-mail: pio@census.gov

    Eddie Salyers
    Valerie Strang
    301-763-5726

            NUMBER OF MINORITY-OWNED BUSINESSES AND REVENUES INCREASE
            SUBSTANTIALLY BETWEEN 1987 AND 1992, CENSUS BUREAU REPORTS

         The number of businesses owned by minorities in the United States
    increased 60 percent from 1,343,910 to 2,149,184 between 1987 and 1992,
    according to a report released by the Commerce Department's Census Bureau.
    This compares to an 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 128 percent during this five-year span, from $92.1 to
    $210.0 billion.  In comparison, receipts for all U.S. firms grew 67 percent,
    from $2.0 to $3.3 trillion.  State-by-state data also were released by the
    Census Bureau.

         Receipts for minority-owned firms averaged $98,000, compared to an
    average of $193,000 for all U.S. firms.

         Minority businesses are those owned by African Americans, Hispanics,
    Asians, Pacific Islanders, American Indians, and Alaska Natives.

         Due to sampling methodology, detailed (geographic, size, and legal form
    of organization) estimates are not available for all the minority-owned firms
    in the survey.  Therefore, the following highlights cover 1,965,565 of the
    total number of minority businesses (2,149,184) reported in the survey.

         Other highlights from the report entitled, "1992 Survey of Minority-Owned
    Business Enterprises--Summary" (MB92-4), include:

         -    African American women owned the largest share (39
              percent or 277,246) of firms owned by minority women,
              while Hispanic men owned the largest share (42 percent
              or 525,330) of firms owned by minority men.
                               
         -    Among minority firms, Hispanic businesses showed the
              largest numeric increase at 349,335 between 1987 and
              1992, followed by Asian, Pacific Islander, American
              Indian, and Alaska Native firms (229,715), and African
              American businesses (196,747).

         -    Forty-six percent (904,226) of minority-owned
              businesses had receipts under $10,000, while 24,380
              (1.2 percent) of these firms had sales of $1.0 million
              or more.

         -    Firms owned by non-Hispanic White men had the highest
              average receipts with $250,000.  Asian, Pacific
              Islander, American Indian, and Alaska Native men
              and women firms had average receipts of $188,000 and
              $119,000, respectively.  These groups were followed by
              non-Hispanic White women-owned firms with $115,000,
              Hispanic men with $106,000, Hispanic women with
              $70,000, African American men with $69,000, and African
              American women with $31,000.

         -    Three states--California, Texas, and Florida--accounted
              for 49 percent of the total number of minority-owned
              firms.  Hawaii had the highest percentage of firms
              owned by minorities at 52 percent and the District of
              Columbia ranked second with 36 percent of all firms.

         The data in this report were collected as part of the 1992 Economic
    Census from a large sample of all nonfarm 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.

         Selected tables will be available on the embargo date on the Internet at:
    http://www.census.gov/csd/mwb/1992

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    quality data about the people and economy of the United States.  In over 100
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