1.4 Million Asian American-owned Businesses in Nation:
U.S. Census Bureau Report
Greenlining Institute has analyzed the U.S. Census Bureau Report of May 16, 2006 regarding the number of Asian American-owned businesses in the United States and California. The data, just released, is, unfortunately, more than four years old.
Greenlining has updated the data through May 1, 2006 using the same growth pattern that the Census Bureau reported for the five-year period 1997 to 2002.
United States: 1.4 million
Assuming Asian American-owned businesses continue to grow at a 24% rate every five years, there are 1.4 million Asian American-owned businesses in the United States (Please note: Asian American-owned businesses grow at twice the national average for all businesses).
California: 450,000
Using the Greenlining projection methodology based on the outdated 2002 Census Report, there are now more than 450,000 Asian American-owned firms in California alone.
By Major County
The number of Asian American-owned firms in Los Angeles County exceeds 170,000. (LA County has the largest number of Asian American-owned businesses of any county in the nation).
Orange County finished third in the nation and now has approximately 56,000 Asian American-owned businesses (Waiching can get data for any county and city if you request).
By Major City
Using the same Greenlining projections by city, the city of Los Angeles has the second largest number of Asian American-owned businesses in the nation with approximately 58,000. San Francisco is fourth in the nation with almost 24,000. And San Jose is fifth with almost 20,000 Asian American-owned businesses.
Breakdown by Ethnicity
Based on Census data and using the Greenlining projections, there are now over 350,000 Chinese American-owned businesses in the United States.
The number of Korean American-owned businesses is approximately 190,000.
The number of Vietnamese American-owned businesses is 177,000.
The number of Filipino American-owned businesses is 154,000.
Other Ethnicities
The U.S. Census Bureau has still not released its 2002 data for African American and released its data last March for Hispanic-owned businesses. There are now more than 520,000 Hispanic-owned businesses in California alone and over 150,000 African American-owned businesses, using Greenlining projections (which are based on prior five-year projections).
Total for All Minorities in California: 1.1 Million
For all minorities in California, there are now over 1,120,000 (or over 1.1 million) businesses in California today.
By Bob Gnaizda and Waiching Wong