According to the U.S. Department of Commerce, Minority Business Development Agency, “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 (MBEs) 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.”

From the Newsroom and the Library:

Source: 2019 American Community Survey (ACS), 1-Year Estimates.

From Surveys & Programs > Annual Business Survey (ABS):