The Color of Entrepreneurship

It’s no secret that in certain industries, there is a lack of diversity in the rooms, on the boards and in leadership positions.  However, how does diversity stack up in the entrepreneurial world?

According to the U.S. Census Bureau’s Survey of Business Owners report. In 2012, there were an estimated 27.6 million firms. From those:

• 5 million are white-owned
• 3 million are Hispanic-owned
• 6 million are black or African-American owned
• 9 million are Asian-owned

The number of white-owned firms actually decreased from 22.5 million in 2007, while minority businesses grew.The total number of minority-led businesses rose 2.2 million. from 5.8 to 8 million.

Although the number of minority-led businesses grew, it is still vastly underrepresented. That is what The Color of Entrepreneurship, a report by the Center for Global Policy Solutions argues. With the exception of Asian Americans, all of the people of color are underrepresented in business when compared to the population. If they were representative of the actual population, people of color would own 1.1 million more businesses.

So which places have the highest numbers of entrepreneurs of color?