Minority-owned Companies Drive Growth
New data compiled by The Business Journals (a sister publication of Bizwomen) shows there are more than 11 million minority-owned businesses in operation nationwide, nearly double the number of 10 years ago.
These businesses employ more than 6.3 million people and generate more than $1.8 trillion in revenue annually, according to the research.
Hispanic-owned businesses have had the greatest amount of growth, the report said, with the number of companies in operation increasing by 46 percent over the past decade. The number of African-American- and Asian-owned businesses increased by 34 percent and 22 percent, respectively.