Research News: September 2018 Edition

Minority Business Development Agency sent this bulletin at 09/19/2018 08:00 AM EDT

Research Reports & MBE Data

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MBDA Celebrates Hispanic Heritage Month 2018 

The U.S. Department of Commerce, Minority Business Development Agency is proud to celebrate the history, culture, and contributions of Hispanic and Latino Americans as part of National Hispanic Heritage Month September 15 - October 15. This year’s theme is “Hispanics: One Endless Voice to Enhance our Traditions”.

The Number of Firms Owned by Minority Women has Grown 163% since 2007 

Since 2007, women of color have started businesses at an unmatched rate. While the number of women-owned businesses grew 58% from 2007 to 2018, firms owned by women of color grew at nearly three times that rate (163%). As of 2018, women of color account for 47% of all women-owned businesses. An estimated 5,824,300 women-of-color-owned businesses employ 2,230,600 people and generate $386.6 billion in revenues.

A Look at Nonemployer Businesses 

Four in five businesses are nonemployers. The number of nonemployer firm has risen 58 percent since 1997, from 15.4 million in 1997 to 24.3 million in 2015, while the number of employer firms has grown 6 percent in the same period. Nonemployer firms account for 3 percent of the annual receipts of US businesses and employer firms account for the remaining 97 percent. On average, nonemployer firms earn about $47,000 annually and employer firms earn nearly $6 million.

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