CENSUS REPORT: Women own more new companies
While the percentage of U.S. businesses owned by women and ethnic minorities continues to lag the representation of those demographic segments in the nation’s population, their ranks in company ownership may be growing, according to new census data.
BizWomen.com recently reported that women, despite making up more than half the U.S. population, owned 19.4 percent of U.S. businesses with paid employees, according to a new Census Bureau report.
Other ownership numbers, however, appear to show a shift in entrepreneurship patterns. The report finds that women owned 24 percent of businesses in operation less than two years — higher than the group’s overall ownership rates.
That supports the findings of a recently released Bizwomen survey that women-owned businesses are a fast-growing segment of the U.S. business market, with women expected to own 39 percent of all U.S. businesses by 2017.
According to the data, 2.1 percent of firms with at least one employee in 2014 were black-owned, 5.8 percent were Hispanic-owned, and 9.8 percent were Asian-owned. By comparison, as of July 2015, the Census Bureau estimated about 13.3 percent of the nation’s population identified as African-American, 17.6 percent as Hispanic or Latino, and 5.8 percent as Asian or Pacific Islander.
Read the full Census Bureau report online.
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