Increase of Minority Owned Businesses - 5/3/16
According to a new report from the Center for Global Policy Solutions, the number of businesses owned by women of color expanded faster than almost every other demographic group during the years during and after the recession. Research indicates that entrepreneurs of color – both men and women – represented a key driver of business and employment creation between two thousand and seven and twenty twelve.
As indicated by writer Kate Davidson, overall, minority owned businesses were responsible for adding more than seventy two percent of the new jobs created during those years. The number of firms owned by people of color grew across nearly every group with the exception of African American males.
The number of businesses with paid employees owned by Asian American women grew thirty eight percent in the years during and after the recession, faster than any other demographic group.
The number of business owned by Hispanic women expanded by nearly twenty seven percent, and by African-American women by more than twenty percent. The number of businesses owned by African-American men declined by a bit more than two percent.