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.

Others in Series

Publication

Asian- and Pacific Islander-Owned Businesses: 1997

October 2001

This brief, based on 1997 Survey of Minority-Owned Business Enterprises data, presents findings on Asian- and Pacific Islander (API)-owned businesses.

Publication

American Indian- and Alaska Native-Owned Businesses: 1997

October 2001

This brief, based on 1997 Survey of Minority-Owned Business Enterprises data, presents findings on American Indian- and Alaska Native-owned businesses.

Publication

The Older Foreign-Born Population in the United States: 2000

October 2002

This brief, based on Current Population Survey data, profiles the foreign-born population in the United States age 65 and over.

View All

Related Information

Survey of Business Owners and Self-Employed Persons Publications

TABLE

SBO - Minority-Owned Firms: 1997 Tables (All Firms)

Page Last Revised - March 8, 2023

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