Jeremy Quittner discusses the unheralded contributions of entrepreneurs of color and the difficulties they still face.
By the numbers, Asian American women made the biggest gains, increasing the number of firms with employees by 37.6 percent to 126,328 for the five-year period of the survey. Hispanic women came in second, growing 26.5 percent to 67,079 firms. Asian American men were third, growing 22.5 percent to 52,073 companies. Black women landed in fourth place, increasing the number of companies with workers by 20.2 percent to 38,609.
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Nevertheless, certain minority groups had difficulties. For example, firms owned by Hispanic women experienced some of the weakest revenue growth, despite the high growth rate of number of firms, with an average annual decrease in sales of 7.2 percent. Similarly, businesses owned by American Indian women increased by 14 percent, but sales plunged more than 22 percent.
