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Census Brief: Minority-Owned Businesses: 1997

Report Number CENBR/02-1

Hispanics owned largest number of minority-owned firms.

In 1997, there were 3.0 million minority-owned businesses in the United States, employing 4.5 million people and generating $591.3 billion in revenues. These firms made up 15 percent of the nation’s 20.8 million nonfarm businesses, employed 4 percent of its workers and generated 3 percent of its receipts.

Of these firms:

  • Hispanics or Latinos owned 1.2 million (or a ratio of 4-in-10 minority-owned businesses), more than any other group. Their firms generated $186.3 billion in revenues.
  • Asians and Pacific Islanders owned 913,000, accounting for revenues of $306.9 billion, which led all groups.
  • African Americans or Blacks were owners of 823,000, generating $71.2 billion in revenues.
  • American Indians and Alaska Natives owned 197,000 firms, producing $34.3 billion in revenues.

Page Last Revised - March 8, 2023
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