Last week, I shared some stats about the best cities for small businesses. And now there’s more–abd it’s all about diversity. The U.S. Census Bureau just released new statistics (from 2021) on the demographic breakdown of small nonemployer businesses, which are by far the most prevalent type of business in the country. Nonemployer businesses are companies with annual receipts of $1,000 or more that file federal income taxes.
Here’s the breakdown. The Census Bureau also released demographic statistics of all businesses (those with and without employees). Those stats are included below.
Total small businesses
Nonemployer businesses: 28.5 million companies, with $1.5 billion in receipts in 2021.
All businesses: 34.4 million companies, with $45.5 trillion in receipts
Non-Hispanic minority-owned companies (employers and nonemployers): 12.1 million, with $2.3 trillion in receipts.
Women-owned companies
Nonemployer businesses: 42.1% (12 million) were owned by women, with receipts of $365.2 billion.
All women-owned businesses: 13.3 million, with $2.5 trillion in receipts
Hispanic-owned companies
Nonemployer businesses: 16.6% (4.7 million) of nonemployer businesses, with receipts of $193.9 billion.
All Hispanic-owned businesses: 5.1 million, with $766.8 billion in receipts.
Asian-owned companies
Nonemployer businesses: 8.6% (2.5 million), with receipts of $131.0 billion.
Black/African American-owned companies
Nonemployer businesses: 14.5% (4.1 million), with receipts of $109.8 billion.
American Indian- or Alaska Native-owned companies
Nonemployer businesses: 1.2% (354,000), with $12.5 billion in receipts.
Native Hawaiian and Other Pacific Islander-owned companies
Nonemployer businesses: 0.3% (90,000), with $3.4 billion in receipts.
Veteran-owned companies
Nonemployer businesses: 4.6% (1.3 million), with $61.7 billion in receipts.
All veteran-owned businesses: 1.6 million, with $983.9 billion in receipts.
Where Black-Owned Businesses are Thriving
In honor of Black Business Month, B2B Reviews released its latest report of the best states for Black-owned businesses. The top 10 states: Delaware, North Carolina, Maryland, Texas, Mississippi, Georgia, Ohio, California, South Carolina, and Minnesota.
Where Women-Owned Businesses are Thriving
Wix.com just released its research on the states that offer the most opportunities for women entrepreneurs. The top 10 states: Vermont, Massachusetts and Rhode Island tied for 2nd place, Maryland, New Mexico, Oregon, Connecticut, Colorado, Maine, and Delaware.
Business owner stock photo by Monkey Business Images/Shutterstock
