Who Owns Businesses?
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While California boasts a higher percentage of minority-owned businesses than the nation as a whole, the real economic power in the state--as in the nation--is wielded by white men, according to the 1987 Characteristics of Business Owners report recently released by the U.S. Census Bureau. The report, published every five years, provides a break-down of the nation’s businesses in terms of ethnicity, gender and a variety of other factors.
More than half of the state’s businesses are owned by white men, and their businesses account for nearly 80% of state businesses’ total sales and revenues. The smallest segment of the state’s businesses were black-owned firms--only 2.6% of the total, accounting for only 1% of sales and revenues.
For the record:
12:00 a.m. July 30, 1992 For the Record
Los Angeles Times Thursday July 30, 1992 Home Edition Business Part D Page 2 Column 6 Financial Desk 2 inches; 44 words Type of Material: Correction
Business ownership--A graphic in Wednesday’s editions showing the ownership of businesses in California and the nation did not explain that minority women were counted in two of the Census Bureau categories: minority businesses and women-owned businesses. That is why percentages totaled greater than 100%.
Here are some key statistics from the report:
Number of businesses in the top five states:
Total U.S.: 13,695,480
1. California: 1,809,252
2. Texas: 1,025,617
3. New York: 930,669
4. Florida: 735,810
5. Pennsylvania: 595,653
Nationwide Business Ownership by Race and Gender
Total: 13,695,480
Black-owned: 424,165 (3.1%)
Hispanic-owned: 422,373 (3.1%)
Other Minority-owned: 376,711 (2.8%)
Women-owned: 4,114,787 (30.0%)
Nonminority, Male-owned: 8,755,252 (63.9%)
National Businesses’ Sales and Receipts, in $100,000s
Total: 1,994,808
Black-owned: 19,763 (1.0%)
Hispanic-owned: 24,732 (1.2%)
Other Minority-owned: 34,036 (1.7%)
Women-owned: 278,138 (13.9%)
Nonminority male-owned: 1,656,823 (83.1%)
California Business Ownership by Race and Gender
Total: 1,809,252
Black-owned: 47,728 (2.6%)
Hispanic-owned: 132,212 (7.3%)
Other Minority-owned: 147,633 (8.2%)
Women-owned: 559,821 (30.9%)
Nonminority, Male-owned: 1,022,830 (56.5%)
California Businesses’ Sales and Receipts, in $100,000s
Total: 246,406
Black-owned: 2,364 (1.0%)
Hispanic-owned: 8,120 (3.3%)
Other Minority-owned: 14,783 (6.0%)
Women-owned: 31,027 (12.6%)
Nonminority male-owned: 195,177 (79.2%)
Note: “Other minority” includes Asian-Americans, American Indians, Pacific Islanders and Alaska Natives.
Source: U.S. Bureau of the Census
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