• Skip to primary navigation
  • Skip to main content
  • Skip to footer
Leave us a Review on
Facebook Linkedin Twitter
  • (216) 592-2332
Inquire Now!
Small business loan resources in ohio
  • About Us
  • Programs
    • SBA 504 Loan Program
    • Community Advantage
  • Community
    • Events
    • Event Photo Gallery
  • Small Business Resources
  • Contact Us
  • Blog
Menu
  • About Us
  • Programs
    • SBA 504 Loan Program
    • Community Advantage
  • Community
    • Events
    • Event Photo Gallery
  • Small Business Resources
  • Contact Us
  • Blog
Search
Close this search box.

3 important statistics about minority-owned businesses

Minority-owned businesses make up parts of several industry sectors, according to federal information.

You are here: Home / Resources / 3 important statistics about minority-owned businesses

June 27, 2016 by boardmember1 25 Comments

Minority-owned business trends can change over time, but the capital finance they use to stay solvent should always be strong. However, recent history can also tell us important details. The U.S. Department of Commerce’s Minority Business Development Agency released a fact sheet about minority-owned firms this January. All told, the source found that there are more than 7.9 million minority firms, compared to 27,626,360 total firms.

For those wanting to start or sustain a business in Ohio, the latest figures could give an idea of what to expect. Here are some highlights from this data:

  1. Hispanic-owned firms dominated: The source measured five specific groups of owners: African American/Black, American Indian & Alaska Native, Asian, Hispanic and Native Hawaiian & Pacific Islander. Of these groups, Hispanic owners accounted for the greatest number of firms, with more than 3.3 million. Asian firms were responsible for the highest number of combined gross receipts with $699.5 billion, as well as the largest number of firms with employees ($481,026).
  2. Ohio in upper half of nationwide rank: This report also separated each state into one of six categories based on the amount of minority-owned firms there. Ohio placed third-highest, meaning it hosts between 500,000 and 999,000 firms owned by minorities.
  3. Wide ranges of industries covered: Of all the industry sectors assessed, the largest one for minority-owned firms was “other.” This accounted for 37 percent of these businesses and included “repair and maintenance; personal and laundry services; religious and civic organizations; and private households.”

The story doesn’t end with capital and revenue, though. As a Fast Company article recently pointed out, there needs to be support and mentorship for minority business owners to help create a productive network.

alttextMinority business owners make up a variety of different sectors.

Growth Capital can help owners find out how to get an SBA loan. Contact us for more information.

Resources minority business,  minority business growth,  minority business owner

Reader Interactions

Comments

  1. Wacpua says

    September 8, 2023 at 12:03 am

    vasotec 10mg usa doxazosin online buy buy duphalac no prescription

  2. Rovdvf says

    September 10, 2023 at 8:26 am

    buy latanoprost eye drops capecitabine 500 mg oral order exelon 6mg generic

  3. Wbjauz says

    September 10, 2023 at 11:46 pm

    buy betahistine pills buy betahistine generic probenecid 500 mg sale

  4. Cywvhz says

    September 13, 2023 at 3:58 am

    omeprazole 20mg ca order singulair 5mg generic order lopressor 100mg generic

  5. Ugecpo says

    September 13, 2023 at 7:40 pm

    order premarin 600 mg for sale dostinex uk sildenafil 50mg pill

  6. online pharmacies says

    September 14, 2023 at 5:32 pm

    canadian pharmacies shipping to usa

  7. Ixrayz says

    September 15, 2023 at 8:59 am

    order telmisartan 20mg generic plaquenil 400mg ca order molnupiravir 200 mg sale

  8. Mqyqit says

    September 15, 2023 at 9:08 pm

    buy tadalafil 40mg tadalafil 5mg brand viagra for men over 50

  9. Tgynin says

    September 16, 2023 at 5:06 pm

    purchase cenforce generic buy naproxen 250mg generic aralen ca

  10. Uhxifa says

    September 19, 2023 at 8:37 am

    order omnicef 300 mg pill order omnicef 300 mg pills prevacid 15mg without prescription

  11. Tlfnny says

    September 19, 2023 at 10:51 am

    generic provigil 200mg oral promethazine buy deltasone online cheap

  12. Spisgz says

    September 22, 2023 at 10:51 am

    order accutane 10mg generic isotretinoin usa zithromax us

  13. Gjbnyy says

    September 23, 2023 at 7:55 am

    buy atorvastatin 80mg pills order norvasc 5mg without prescription order generic norvasc 5mg

  14. Hdrxdg says

    September 24, 2023 at 2:30 pm

    order azithromycin 250mg for sale order neurontin 100mg neurontin 600mg pills

  15. Ywtwch says

    September 26, 2023 at 8:34 pm

    free spins no deposit usa online casino roulette how to buy lasix

  16. Kxoyol says

    September 26, 2023 at 11:57 pm

    where can i buy protonix zestril for sale online buy pyridium 200 mg generic

  17. Kbflzy says

    September 28, 2023 at 7:27 pm

    real money casino online usa get antihistamine pills online albuterol generic

  18. Pxiufx says

    September 30, 2023 at 3:07 am

    amantadine usa order tenormin 100mg order aczone pills

  19. Xfyahu says

    September 30, 2023 at 8:57 am

    global poker online wind creek casino online play ivermectin

  20. pharmacy canada says

    September 30, 2023 at 9:05 pm

    online medication

  21. Weskri says

    October 2, 2023 at 12:58 am

    blackjack online online slot games cost levothyroxine

  22. top mail order pharmacies in usa says

    October 2, 2023 at 9:15 am

    pharmacies with no prescription

  23. Vsosep says

    October 3, 2023 at 1:12 am

    cheap medrol order aristocort 4mg for sale triamcinolone us

  24. order from canadian pharmacy says

    October 3, 2023 at 11:51 am

    reputable canadian mail order pharmacy

  25. Luyuhy says

    October 3, 2023 at 5:37 pm

    buy clomid online azathioprine 50mg canada purchase imuran for sale

Leave a Reply

Your email address will not be published. Required fields are marked *

Social

Follow along on social media.
Leave us a review on

Contact

IMG Center
1360 East Ninth Street, Suite 950
Cleveland, Ohio 44114

  • Get Directions
  • (216) 592-2332
  • Contact

Navigation

  • Have A Loan?
  • Small Business Loan Programs
  • Loan Calculator
  • Community
  • Small Business Resources
  • Annual & Loan Activity Reports
  • Blog
  • Our History
  • Events
  • Contact Us
  • Have A Loan?
  • Small Business Loan Programs
  • Loan Calculator
  • Community
  • Small Business Resources
  • Annual & Loan Activity Reports
  • Blog
  • Our History
  • Events
  • Contact Us

Newsletter

Stay up to date by subscribing to our newsletter.
Click here to sign up

© Copyright 2023 Growth Capital Corp · All Rights Reserved · Website designed by Jennasis & Associates