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Report Number CENBR/01-7
Component ID: #ti498833252

Number of Asian- and Pacific Islander-owned firms has grown rapidly.

Asian- and Pacific Islander (API)-owned businesses in the United States totaled about 913,000 in 1997, employed more than 2.2 million people and generated $306.9 billion in revenues. They made up 4 percent of the nation’s 20.8 million nonfarm businesses, employed 2 percent of their workers and generated 2 percent of their receipts. More than 1-in-4 Asian- and  Pacific Islander-owned firms were owned by people of Chinese origin. (See Figure 1.)

Between 1992 and 1997, the number of businesses owned by Asians and Pacific Islanders increased about four times as fast as the total number of businesses (30 percent versus 7 percent).1 Receipts of Asian- and Pacific Islander-owned firms rose 68 percent, compared with a 40 percent increase for all U.S. firms over the same period.

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1 Excludes C corporations — legally incorporated businesses except for Subchapter S corporations, whose shareholders elect to be taxed as individuals rather than as corporations — for which prior comparable data are not available.

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