Preliminary Business Survey Numbers Show Healthy Growth
Jul 20th, 2010 | By Dawn Rivers Baker | Category: ResearchLast week, the Census Bureau — which seems to have been very busy lately — released some preliminary estimates of business ownership numbers by gender and ethnicity, as well as by veteran status, from the 2007 Survey of Business Owners (SBO). The report, descriptively entitled Preliminary Estimates of Business Ownership by Gender, Ethnicity, Race and Veteran Status: 2007, is the first of ten releases over the next year to be culled from SBO data, culminating in the release of the Characteristics of Businesses and Characteristics of Business Owners reports in July 2011.
Among the highlights from these preliminary estimates, Census found that roughly 5.8 million of the nation’s 27.1 million firms had paid employees. Receipts for employer firms totaled $29.2 trillion, an increase of 33.8% since 2002, while nonemployer receipts $972.7 billion, up 26.8% from 2002. Minority owned firms increased significantly in number, ranging from a 60.5% increase for black-owned firms to a 17.9% increase for American Indian-Alaska Native owned firms. The number of women-owned businesses grew by 20.1% between 2002 and 2007, as compared with an increase of 5.5% in the number of men-owned businesses over the same period. And receipts for minority owner firms and women owned firms were 55.6% and 27%, respectively, over the period.
