Hispanics owned largest number of minority-owned firms.
In 1997, there were 3.0 million minority-owned businesses in the United States, employing 4.5 million people and generating $591.3 billion in revenues. These firms made up 15 percent of the nation’s 20.8 million nonfarm businesses, employed 4 percent of its workers and generated 3 percent of its receipts.
Of these firms:
- Hispanics or Latinos owned 1.2 million (or a ratio of 4-in-10 minority-owned businesses), more than any other group. Their firms generated $186.3 billion in revenues.
- Asians and Pacific Islanders owned 913,000, accounting for revenues of $306.9 billion, which led all groups.
- African Americans or Blacks were owners of 823,000, generating $71.2 billion in revenues.
- American Indians and Alaska Natives owned 197,000 firms, producing $34.3 billion in revenues.