Minority Business Ownership Differs by Sector
U.S. Census Bureau
First published January 2023
As the U.S. population has become more diverse, so has ownership of the nation’s businesses.
There were more Hispanic-owned businesses overall and more minority-owned businesses in various sectors in 2020 than a decade earlier, according to the Census Bureau’s 2021 Annual Business Survey (ABS).
The diversity of business owners mirrors the changing profile of the nation’s population. The 2020 Census found that the population of nearly all race and ethnicity groups in the United States had grown since 2010 with the exception of the White alone population, which declined during the decade.
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