Women Take Reins in Minority-owned Businesses

July 16, 2001 (PLANSPONSOR.com) - The number of minority-owned businesses in the US continues to rise, and nearly 40% of them are owned by women, according to the Commerce Department.

The female ownership rate was about a third in minority categories other than black-owned businesses, including Hispanic, American Indian/Alaska Native and Asians and Pacific Islanders.

There were about 3 million minority businesses, including more than 923,000 with female owners and 451,000 with women who owned half the firm, according to the report based on 1997 data. In 1992 there were about 717,000 minority-women business owners.

Minority-owned companies increased 30% from 1992 to 1997, according to the report.