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Census: Number of Asian-Owned Businesses Increased at More Than Twice the National Rate

News release: “The number of U.S. businesses owned by people of Asian origin increased 40.4 percent to 1.5 million between 2002 and 2007, increasing at more than twice the national rate, according to U.S. Census Bureau data. These businesses also generated $507.6 billion in receipts, a 55.4 percent increase from 2002. “Asian-owned businesses continued to be one of the strongest segments of our nation’s economy, bringing in more than half a trillion dollars in sales in 2007 and employing more than 2.8 million people,” said Census Bureau Deputy Director Thomas Mesenbourg. These new data come from the Survey of Business Owners: Asian-Owned Businesses: 2007. The survey provides detailed information every five years for Asian-owned businesses, including the number of firms, sales and receipts, number of paid employees and annual payroll.”

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