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Minority Business Statistics

Minorities will account for 1 in 2 of every American by 2050

Source: U.S. Census Bureau

Minority communities have buying power of over $2.5 trillion

Source: MBDA

1 in 7 small businesses is owned by a veteran

Source: SBA

Women-owned firms are out-pacing non-WBEs by double 

Source: MBDA

Minority-owned firms job creation increased by 27% from 2002 to 2007, compared with 0.03% for non-minority owned firms.

Source: NMSDC

Every $1.00 spent with a minority-owned firms, has a $1.74 of economic impact in their communities.

Source: Chicago United

There are more minorities in this country today than there were people in the United States in 1910. In fact, the minority population in the U.S. is larger than the total population of all but 11 countries.

Louis Kincannon: Census Bureau Director, May 2007

The minority population had an estimated buying power of about $2.5 trillion in 2009, larger than the purchasing power of all but five countries worldwide in 2009, including the United Kingdom ($2.1 trillion), Russia ($2.1 trillion), and France ($2.1 trillion).

Source: MBDA

Minorities own 15.1% of all U.S. businesses, or more than 3 million firms, and 99% of these firms are small businesses.

Source: SBA

Minority-owned businesses account for $591 billion in revenues.

Source: SBA

More than one-third of minority-owned firms are owned by Hispanics: 

Hispanic..........................................................................................40.2%
Asian.................................................................................................28.1%
Black ................................................................................................28.0%
American Indian..........................................................................6.7%

Source: SBA

Minority-owned firms outpaced the growth of non-minority firms in gross receipts (55%), employment (27%), and number of firms (46%).

Source MBDA

For more information:

Minority Business Development Agency

U.S. Census Bureau

Small Business Administration