Business boom: Record numbers of people are starting up new small businesses

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Record numbers of people are starting new businesses, and more and more of them are women and minorities, according to a new study.

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Women made up 49% of the new business owners surveyed. That's in line with the past several years, but up starkly from 2019, when just 29% of new business owners were women. Black entrepreneurs made up 6% of new business owners in 2023, double the 3% rate seen before the pandemic. Hispanic entrepreneurs made up 13% of new owners, compared to 8% last year.

 

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