An official website of the United States government
Here’s how you know
Official websites use .gov
A .gov website belongs to an official government organization in the United States.
Secure .gov websites use HTTPS
A lock (
) or https:// means you’ve safely connected to the .gov website. Share sensitive information only on official, secure websites.
EMBARGOED UNTIL: 10 A.M. EST, NOVEMBER 18, 1996 (MONDAY)
Public Information Office CB96-188
301-457-3030/301-457-3670 (fax)
301-457-4067 (TDD)
e-mail: pio@census.gov
Eddie Salyers
Valerie Strang
301-763-5726
The number of businesses owned by minorities in the United States increased 60 percent from 1,343,910 to 2,149,184 between 1987 and 1992, according to a report released by the Commerce Department's Census Bureau. This compares to an increase of 26 percent for all U.S. firms, from 13.7 million in 1987 to 17.3 million in 1992. Receipts for these minority-owned businesses increased by 128 percent during this five-year span, from $92.1 to $210.0 billion. In comparison, receipts for all U.S. firms grew 67 percent, from $2.0 to $3.3 trillion. State-by-state data also were released by the Census Bureau.
Receipts for minority-owned firms averaged $98,000, compared to an average of $193,000 for all U.S. firms.
Minority businesses are those owned by African Americans, Hispanics,Asians, Pacific Islanders, American Indians, and Alaska Natives.
Due to sampling methodology, detailed (geographic, size, and legal form of organization) estimates are not available for all the minority-owned firms in the survey. Therefore, the following highlights cover 1,965,565 of the total number of minority businesses (2,149,184) reported in the survey.
Other highlights from the report entitled, "1992 Survey of Minority-Owned Business Enterprises--Summary" (MB92-4), include:
The data in this report were collected as part of the 1992 Economic Census from a large sample of all nonfarm businesses filing tax forms as sole proprietorships, partnerships, or subchapter S corporations (corporations other than subchapter S were excluded), and with receipts of $500 or more in 1992. The report does not include C corporations, which are legally incorporated businesses with no limits on their number of shareholders.
The information was collected from a sample survey and is therefore subject to sampling variability as well as reporting and coverage errors. Comparisons to 1987 should be done with extreme caution because changes in tax laws cause inconsistencies between the 1987 and 1992 data. Changes in survey methodology also may contribute to the differences.
Selected tables will be available on the embargo date on the Internet at: https://www.census.gov/csd/mwb/1992
-X-
The Census Bureau--preeminent collector and provider of timely, relevant, and quality data about the people and economy of the United States. In over 100 surveys annually and 20 censuses a decade, evolving from the first census in 1790, the Census Bureau provides official information about America's people, businesses, industries, and institutions.
Share
Top