Making strides, but losing ground? Black, woman-owned firms growing, but at a slower pace than other groups. (Facts & Figures).Female minority-owned businesses are growing at a greater rate than all women-owned firms and the national average for all U.S. firms, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a report issued in December December: see month. 2001 by the Center for Women's Business Research in Washington Washington, town, England Washington, town (1991 pop. 48,856), Sunderland metropolitan district, NE England. Washington was designated one of the new towns in 1964 to alleviate overpopulation in the Tyneside-Wearside area. , D.C. The Center projected that, by March 2002, there will be an estimated 1.2 million minority female-owned businesses in the U.S. (defined as at least 51% female owned), employing more than 822,000 people, and generating $100.6 billion in sales. Between March 1997 and March 2002, the Center estimated that the number of privately held firms at least 51% owned by minority women grew by 31.5% vs. 14.3% for women-owned firms, 29.7% among minority-owned firms, and 6.8% among all U.S. firms. "Women are advancing in American American, river, 30 mi (48 km) long, rising in N central Calif. in the Sierra Nevada and flowing SW into the Sacramento River at Sacramento. The discovery of gold at Sutter's Mill (see Sutter, John Augustus) along the river in 1848 led to the California gold rush of culture," says Julie JULIE Joint Utility Locating Information for Excavators JULIE Jena University Language and Information Engineering (Germany) R. Weeks, director of research at the Center. "We have higher levels of education, higher levels of work experience, and entrepreneurship en·tre·pre·neur n. A person who organizes, operates, and assumes the risk for a business venture. [French, from Old French, from entreprendre, to undertake; see enterprise. for many is the next logical step." Weeks says the 1998 study the Center had published found that African American African American Multiculture A person having origins in any of the black racial groups of Africa. See Race. women were much more likely to start a business by themselves as opposed to having business partners. They were also more likely to start their businesses on a part-time basis while also holding down another job. "African American women appear to be starting in business a little more slowly and I think that's showing in the growth curve," Weeks says. "They're not growing as fast because they're starting on a part-time basis, and it's taking them longer to catch-up." Businesses owned by minority women represent 20% of all women-owned U.S. firms. More than half (58%) are in the service sector. Industry sectors with some of the greatest growth were transportation/communications/public utilities (21% collectively), and agriculture (7%).
As of 2002,
There Are Over 1.2 Million
Minority Women-Owned
Firms in the U.S.
THOUSANDS
Total 1,214,309
Hispanic 470,344
African American 365,110
Asian 358,503
Native American 77,483
Note: Table made from bar graph.
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