What Percentage Of Businesses Are White Owned?
78.29% of businesses are white-owned.
Data Last Checked: November 12, 2022
The business landscape in America is constantly changing. In recent years, there has been an influx of new businesses being created by minorities. Even though this is the case, the majority of businesses in America are still owned by white people. The question is just what percentage of businesses are white owned today?
According to recent data from U.S. Census Bureau, NES-D, ABS found that 78.29% of businesses are white-owned. This is a startling statistic, and it reveals a significant gap in the way that different racial and ethnic groups are able to access economic opportunities.
Let’s take a more in-depth look at the percentage of firms that are owned by white people, as well as some of the factors that contribute to such a high ratio.
The Reality of White-Owned Businesses in America
According to the most recent data from the Census Bureau, 78.29% percent of businesses in America are owned by white people. This number has remained relatively steady over the past few years, even as the number of minority-owned businesses has increased. There are a few factors that contribute to this high percentage of white-owned businesses.
One reason is that white people have more access to capital than minorities. This is due to a variety of factors, including historical discrimination and redlining practices that have made it difficult for minorities to get loans and investment capital. As a result, minorities have had to rely on personal savings and loans from friends and family members to start their businesses.
Another reason for the high percentage of white-owned businesses is that minority-owned businesses tend to be smaller than white-owned businesses. This is due in part to the fact that minorities often lack the same level of experience as white business owners. They may also have difficulty accessing the same resources, such as networks and mentors, that can help them grow their businesses.
The high percentage of white-owned businesses in America is due to a variety of factors, including historical discrimination and lack of access to capital. However, the number of minority-owned businesses is increasing, thanks in part to programs designed to help them grow and thrive. With continued support, we can expect to see even more progress in this area in the years to come.