Hispanic-Owned Firms
March 21, 2006
You may Listen or download this story in .mp3 format.
PIO Broadcast & Photo Services
Hispanic-Owned Firms PodcastNews Release
Press Kit
INTRO, by Maury Cagle:
Welcome to this U-S Census Bureau Podcast, produced by the Public Information Office. I’m Maury Cagle on behalf of the U-S Census Bureau. This backgrounder is one of a series of discussions with Census Bureau officials and reporter authors.
We cover a wide variety of Census Bureau data releases and related topics.Today’s backgrounder covers the Survey of Business Owners, based on data gathered for the 2002 Economic Census.
We’ll hear nuggets of information about Hispanic-owned businesses. Our podcast host is Rita Rich.Rita Rich:
Our topic today is the release of the 2002 Economic Census data covering Hispanic-owned businesses in the U.S.
Our interview is with U.S. Census Bureau Associate Director for Economic Programs, Tom Mesenbourg.
Let’s start by discussing the big picture, Tom, and thank you for being here today. What is the Economic Census, how are data like this used by decision makers and business people?
Tom Mesenbourg:
Well, the economic census is the most comprehensive survey done of U-S businesses. In over the last 2 years we have produced statistics on 23-million businesses, we’ve provided information on 900- different industries, and we’ve also generated very detailed information about where those businesses are located. But heretofore, we have not really produced any information that illuminates the characteristics of those businesses. Now we’re going to start coloring in that mosaic by providing information on this case Hispanic owned businesses.Rita:
Now when we say Hispanic owned businesses, define Hispanic in America.Tom:
Hispanic owned business is a business that has 51% or more of the ownership is attributed to individuals of Hispanic ethnicity.
Rita:
Such as Puerto Rican Americans?Tom:
Exactly, such as Mexican Americans, Puerto Ricans, Cubans and Spanish/Latino, a whole variety of ethnicities.Rita:
Now how do you use data like this to determine the health of the U-S economy as a whole?Tom:
This data is going to provide information on small businesses. The survey collects data both from businesses that have paid employees, and there are about 5.6 million of those in the U-S economy, and it also collects data from a sample of the 17-and-half to 18-million businesses that are sole proprietors that don’t have any paid employees.
So, the Hispanic owned business report will provide data on both of those categories.Rita:
All right, let’s get to the headline, the Census Economic Data forecast between 1997 and 2002 showed what kind of trend in terms of Hispanic Business ownership?Tom:
Hispanic businesses grew by 31% between 1997 and 2002. That was triple the U-S average.Rita:
Can you tell me which states have the largest number of these businesses?Tom:
The four largest states in terms of Hispanic businesses are: California—California has almost 26% of all the Hispanic owned businesses in the U-S. Second, we have Texas; third Florida and fourth, New York.Rita:
Now I know that the Census.gov website is chock-full of colorful charts and graphs, and I can bet you that you guys made a beautiful map of the United States that actually shows you where these states are and in full color graphics, demonstrates the strength of business ownership in those states. In fact I know this cause I was given a sneak peek of this. I encourage everybody to check out Census.gov and do a brief search on that.
Now I know that the Census recently released data on counties with the fastest growth rates. Which counties in the U-S have particularly large numbers of Hispanic businesses?Tom:
We lead with Los Angeles, where they have almost a hundred-and-eighty-eight-thousand Hispanic owned businesses in Los Angeles Country. Miami-Dade, in Florida, is second with a-hundred-sixty-three-thousand. Harris, Texas has almost 62-thousand and the Bronx, in New York has 38-thousand. So, those are the four top counties in the United States in terms of Hispanic owned business.Rita:
And, because you are the Census Bureau can you tell me which cities have the largest numbers of Hispanic owned businesses?Tom:
Well, the cities follow the state and the county profile also. New York City leads with almost 130-thousand Hispanic owned businesses; Los Angeles is second with almost 85-thousand; Houston is third with almost 42-thousand Hispanic owned businesses; and Miami is fourth with 36-thousand.Rita:
Now, what can you say about the growth of Hispanic owned businesses in the U-S and it’s importance for the nation’s economy?Tom:
Well, in total, Hispanic owned firms account for about 7% of the total number of firms in the U-S.Rita:
Of all these businesses how many are sole proprietors where there’s just an individual performing a service?Tom:
Of the 1-point-six million Hispanic owned businesses in the United States; 1-point-four million of them are sole proprietors. So, they’re running their business themselves. They’re entrepreneurs.Rita:
What kind of businesses do they run?Tom:
About 50% of the revenues from Hispanic owned businesses are concentrated in three economic sectors; retail/trade-that is businesses that sell to consumers; wholesale trade-businesses that typically sell to other businesses; and the third is construction.Rita:
Mr. Tom Mesenbourg, thank you for participating in today’s podcast.Now, for those interested in complete data on today’s topic, please visit the Census Bureau’s homepage---www.census.gov and look for “Survey of Business Owners” in the “Business” category. You can also view a short introductory video by going to “Broadcast and Photo Services” in the “Newsroom” category, then clicking on “Survey of Business Owners Press Event.”
On behalf of the U.S. Census Bureau, I’m Rita Rich.
CLOSE by Maury Cagle:For more information or to request a media interview, please call the U-S Census Bureau, Public Information Office…at area code 301-763-3030.
This podcast was brought to you by the U-S Census Bureau. On behalf of the Public Information Office, I’m Maury Cagle.
