Summary of Minority-Owned Business Survival Rates

Based on U.S. Census Bureau Statistics 1992-1996

The Growth Rate of Minority-Owned Businesses (MOBs)

The number of minority-owned businesses has shown consistent and steady long-term growth:

• 1982 - 6.8% of all U.S. firms were minority-owned
• 1987 - 9.3% of all U.S. firms were minority-owned
• 1992 - 12.5% of all U.S. firms were minority-owned
• 1997 - 14.6% of all U.S. firms were minority-owned

While it is clear that the growth rate of MOBs appears healthy, are these businesses surviving?

Are Minority-Owned Businesses Surviving?

The U.S. Census Bureau conducts surveys of business owners in the U.S. The most recent survey was conducted in 2002 (findings were reported in 2006). However dated, the following statistics comparing 1992 to 1996 businesses are still important in studying trends in the longevity and survival rate of U.S. minority-owned businesses.

50.4% of all businesses that reported positive payrolls in the 1992 Survey of Business Owners conducted by the U.S. Census were still in business four years later (in 1996). The following Table 1 summarizes the survival rate of businesses surveyed:

_{Source:
U.S. Department of Commerce. "Summary Statistics on Minority-Owned Businesses." Access Date: July 30, 2008.}