October 26, 2023

Census Bureau: New Data on Minority-Owned, Veteran-Owned and Women-Owned Businesses Released

The U.S. Census Bureau today released new estimates on the characteristics of employer businesses. According to the 2022 Annual Business Survey (ABS), which covers reference year 2021, there were approximately 5.9 million employer firms in total, of which, 1.2  million (21%) were minority-owned, 304,823 (5.2%) were veteran-owned, and around 1.3 million (22%) were owned by women. This release also includes demographic data by Urban and Rural classification, employment size, receipt size, and the years in business of each firm.

Other highlights:

Within the ABS, minority-owned firms are classified as any race and ethnicity combination other than non-Hispanic and White, and nonminority firms are classified as non-Hispanic and White. The ABS is sponsored by the National Center for Science and Engineering Statistics (NCSES) within the National Science Foundation and conducted jointly with the Census Bureau. The survey measures research and development for microbusinesses, innovation, and technology and provides annual data on select economic and demographic characteristics for businesses and business owners by sex, ethnicity, race and veteran status. NCSES is set to release more data on research and development and innovation in the coming months.

This post was originally published here.