Census Bureau Reports Number of Minority-Owned Firms Increased at More Than Double the Rate of All U.S. Businesses From 2002 to 2007. US Census Bureau News Release. June 7, 2011.
2007 Survey of Business Owners: Company Summary.
Provides statistics on minority and nonminority business ownerships every five years, as well as breakdowns and cross-tabulations by gender, race, ethnicity and veteran status. Separate data are provided on firms equally owned by minorities and nonminorities, by men and women and by Hispanics and non-Hispanics.
For more information:
http://www.census.gov/newsroom/releases/archives/news_conferences/2011_06_07_compsum.html
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The National Minority Enterprise Development (MED) Week Conference.
The Nation’s premier event for minority entrepreneurs and the public and private sectors. The MED Week Conference offers a venue for minority-owned firms to access information, tools and resources to grow their businesses both domestically and internationally.
The Minority Business Development Agency
- MBDA Awards $4.3 Million in Grants to Advance the Growth of U.S. Minority Businesses. Funding will support new MBDA Business Centers in Boston, Minneapolis and Riverside, California
- MBDA Awards $7.8 Million in Grants to Advance the Growth of U.S. Minority Businesses
- MBDA Invests $1.75 Million to Launch New Federal Procurement Business Center to Advance the Growth of Minority Businesses
Minority Business RoundTable
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Books:
Minority Business Success: Refocusing on the American Dream. Leonard Greenhalgh & James Lowry. Stanford Business Books, 2011.
Minority Women Entrepreneurs: How Outsider Status Can Lead to Better Business Practices. Mary Godwyn & Donna Stoddard. Stanford University Press, 2011
Race and Entrepreneurial Success: Black-, Asian-, and White-owned Businesses in the United States. Robert W. Fairly & Alicia M. Robb. MIT Press, 2008
Immigrant and Minority Entrepreneurship: The Continuous Rebirth of American Communities. John Sibley Butler & George Kozmetsky. Greenwood Publishing Group, 2004
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Minority Business Success Essential to American Affluence and Competitiveness, but U.S. Is Woefully Unprepared for Major Demographic Shift, According to Boston Consulting Group Expert. Marketwire. July 6, 2011
When Minorities Become the Majority: Minority Businesses Will Become the Bedrock of the American Economy, the Primary Driver of Wealth Creation in the U.S., and the Main Value Creators in America’s Corporate Supply Chain
Minorities will become the majority of the U.S. population by 2045. When they do, they will also become the majority of America’s workforce, supply chains, and entrepreneurial economy. Their success in creating wealth will determine the fortunes of the nation and everyone within it.
So, if America does not make minority business success a national priority, the U.S. economy and standard of living will stumble as they run headlong into a critical shortage of skilled entrepreneurs, according to The Boston Consulting Group’s (BCG) James H. Lowry, a senior advisor at the firm and coauthor of Minority Business Success: Refocusing on the American Dream (Stanford Business Books, 2011).
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Minority Business Leaders and Influentials to be Honored by MBDA.
The U.S. Commerce Department’s Minority Business Development Agency (MBDA) proudly announces the 2011 National Minority Enterprise Development (MED) Week award winners. Awardees will be honored at a gala on September 30 in Washington, D.C.
August Is Black Business Month — and It Spotlights the Need to Develop Minority-Owned Suppliers. Marketwire. August 09, 2011
If Large Corporations Don’t Focus More on Supporting Minority Businesses, the Competitiveness of U.S. Companies and the Economy Will Falter; It’s Plain and Simple Demographics, Says Boston Consulting Group (BCG) Expert and Author
August, which is National Black Business Month, is a good time for American businesses to confront the reality that supplier diversity should be a top strategic priority, not simply a corporate citizenship obligation, according to Boston Consulting Group (BCG) Senior Advisor James H. Lowry, coauthor of Minority Business Success: Refocusing on the American Dream (Stanford Business Books, 2011).
“Black Business Month is the right time to remember that minorities will become the majority of the U.S. population by 2045. Because of sheer demographics, minority businesses will need to deliver the value that American corporations expect — at every level of the supply chain. Right now they do not,” Lowry said.
“Outdated policies on the part of business and government ignore the problem, and in some cases make it worse: They focus on grants to minority businesses of non-essential and low-value work, and they do not provide sufficient working capital or expertise to help minority businesses successfully scale up. Instead, a successful program should correct shortcomings in basic education, access to capital, business management skills, and access to mainstream supply chain opportunities.”
Minority Business Success explains that modern competition pits a corporation’s supply chain against rivals’ supply chains, so developing supplier excellence is a management and strategic imperative. If large companies do not step up efforts to develop sophisticated minority-owned businesses, inexorable demographic shifts will, sooner or later, undermine quality and options when it comes to supply chain choices. Therefore, supplier diversity, at nearly every level, needs to be a strategic priority at just about every large company.
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Related:
The New Agenda for Minority Business Development. James H. Lowry and Richard Holland (Boston Consulting Group Report). Ewing Marion Kauffman Foundation. June 2005
Minority-owned firms must move into growth mode. Study reports progress but calls for adjustments. Joyce Smith. Kansas City Star. June 29, 2005.
Study Sees Obstacles to Minority Business Growth. Minority owners tend to cap growth after self-sufficiency, report finds. Mina Azodi. Inc.com. July 7, 2005
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MillerCoors Celebrates Minority Business Growth by Declaring ‘National Urban Entrepreneurs Week’.
August 11, 2011. 2011 MillerCoors Urban Entrepreneurs Series and Business Plan Competition Underway.
MillerCoors salutes today’s urban entrepreneur and declared August 1 through 5, “National Urban Entrepreneurs Week.” The company has also launched a call-for-entries for the annual MillerCoors Urban Entrepreneurs Series (MUES) and Business Plan Competition. According to the U.S. Census Bureau, minority-owned businesses have increased nearly 50 percent since 2000, fully twice the rate of all U.S. businesses. More significantly, urban entrepreneurs, who now employ some 5.9 million workers, are leading the way in job creation and helping to rebuild the economy.
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The Small Business Economy: A Report to the President 2010. U.S. Small Business Administration (SBA) Office of Advocacy.
The Small Business Economy: A Report to the President 2007. U.S. Small Business Administration (SBA) Office of Advocacy. December 2007 Research Summary. Chapter 4: Minorities in Business: A Demographic Review of Minority Business Ownership
Minorities in Business: A Demographic Review of Minority Business Ownership. Report on statistical information about minority-owned businesses such as the number of businesses, types of businesses, business turnover, income, industry, procurement, and financing. Research Summary. April 2007.
Minority Entrepreneurship. Robert W. Fairlie. Chapter 4 in The Small Business Economy: A Report to the President 2005. December 2005 Research Summary
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Race/Ethnicity and Establishment Dynamics, 2002-2006. Ying Lowrey, U.S. Small Business Administration, Office of Advocacy. November 2010. Research Summary
Determinants of Growth in Entrepreneurship Across U.S. Labor Markets: 1970-2006. Tami Gurley-Calvez, George W. Hammond, and Eric C. Thompson. May 2010. Research Summary
High-tech Immigrant Entrepreneurship in the United States. David Hart, Zoltan Acs, and Spencer Tracy, Jr. July 2009. Research Summary
Income and Wealth: How Did Households Owning Small Businesses Fare from 1998 to 2007? George W. Haynes. January 2010. Research Summary
Dynamics of Employer Establishments, 2002-2003. Ying Lowery. U.S. Small Business Administration (SBA) Office of Advocacy Working Paper. December 2009.
Preliminary Survey of Business Owner tracking data on the dynamics of employer establishments—rates of establishment, death, expansion, and contraction and net job change—are available now for 2002-2003. The data are displayed by size of business and by the gender, Hispanic or Latino origin, and race of the owner, as well as by industry and state. Subsequent editions will include data for the 2002-2004, 2002-2005, and 2002-2006 periods.
Startup Business Characteristics and Dynamics: A Data Analysis of the Kauffman Firm Survey. Ying Lowrey. U.S. Small Business Administration (SBA) Office of Advocacy Working Paper. August 2009. Research Summary.
The Effect of Wealth and Race on Start-up Rates. Maritza Salazar (BCT Partners, LLC). July 2007. Research Summary
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Entrepreneurship in Silicon Valley During the Boom and Bust. Robert Fairlie. March 2007. Research Summary
Women in Business: A Demographic Review of Women’s Business Ownership. Ying Lowrey. August 2006. Research Summary