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Minority business ownership increases at alarming rate

The number of minority-owned businesses increased by 45.6 percent to 5.8 million between 2002 and 2007, more than twice the national rate of all U.S. businesses, according to the U.S. Census Bureau. In addition, the number of women-owned businesses increased 20.1 percent during the same period.

This new data came from the Preliminary Estimates of Business Ownership by Gender, Ethnicity, Race and Veteran Status: 2007, from the U.S. Census Buereau’s 2007 Survey of Business Owners. The preliminary report released is the first of 10 reports on the characteristics of minority-, women-, and veteran-owned businesses and their owners scheduled for release over the next year.

Increases in the number of minority-owned businesses ranged from 60.5 percent for black-owned to 17.9 percent for American Indian/Alaska Native-owned businesses.

I am interested in a closer look and in depth story on this report for an upcoming Trade and Commerce section, 700 words with a deadline of July 30. I would like comments from some Native business owners on their thoughts in regards to the increase and comments from the census bureau.

If interested in this story e-mail me at kpolisse@indiancountry.com [Subject line: Minority business ownership increases at alarming rate]