1992 Survey of Business Owners Press Releases
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EMBARGOED UNTIL: 10 A.M. EST, NOVEMBER 18, 1996 (MONDAY)
Public Information Office CB96-188
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
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
- 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:
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