four out of five employer firms in the U.S. are owned by people identifying as non-Hispanic white, while only 19% of businesses are owned by minorities. To determine the U.S. locations with the most minority business owners, researchers calculated the ratio of minority-owned businesses to the minority population.America’s population of racial and ethnic minorities is growing faster than ever, poising nonwhite Americans to be an increasingly large force in the U.S. economy.
for America’s white and nonwhite populations. While white Americans still represent a majority of the population, the number of Americans identifying as white alone declined by 8.6% from 2010 to 2020, while every other racial group saw increases in population over the same period. And this rapid growth is poised to continue: estimates project that the U.S. will become “majority minority”Racial and ethnic minorities are playing a greater role in the economy as America’s nonwhite population grows.
of the new businesses created in the U.S. over the last decade, creating 4.7 million jobs in the process.
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