- July 9, 2021
- Posted by: Stratford Team
- Category: Business
STATEN ISLAND, N.Y. — A new study found that white men are now in the minority among small business owners in the United States, Forbes reported.
The historical shift was made possible by fast-growing business owned by women and Latinxs, according to Forbes.
The study was conducted by venture capitalists Elizabeth MacBride and Steven Levine, along with a team of researchers from Stanford University, who used data from the 2017 U.S. Census.
Of the 30.5 million small business owners in America, 41 % are white men. Comparatively, 59% of businesses are women-owned or owned by men of color, the study showed.
The data does not come as a surprise based on rapid growth in women-owned and Latinx businesses over the past several years, Forbes explained.
For the past five years, women-owned businesses grew at twice the rate of the population, the report found. Women of color have also been starting businesses at 4.5 times the rate of the population.
Similarly,…
