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Presidential Proclamation 2018

According to the Minority Business Development Agency (MBDA), “By 2044, the Nation’s prosperity will rely even more on minorities, the fastest growing segment of the population. Entrepreneurship is a sure pathway to wealth creation and a thriving national economy. Today, U.S. minority business enterprises represent 29% of all firms but only 11% have paid employees. If MBEs were to obtain entrepreneurial parity, the U.S. economy would realize 13 million more jobs.”

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Note: Data for the SBO are collected every five years ending in "2" and "7" as part of the Economic Census. The program began as a special project for minority-owned businesses in 1969 and was incorporated into the Economic Census in 1972 along with the Survey of Women-Owned Businesses.

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