There were approximately 5.9 million employer firms in 2021 in total, of which, 1.2 million (21%) were minority-owned, 304,823 (5.2%) were veteran-owned, and around 1.3 million (22%) were owned by women, according to the 2022 Annual Business Survey (ABS), new estimates on the characteristics of employer businesses.
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Veteran-owned businesses had an estimated $922.2 billion in receipts, 3.3 million employees, and $179.9 billion in annual payroll.
Women-owned businesses had an estimated $2.1 trillion in receipts, 10.5 million employees, and $499.4 billion in annual payroll.
There were an estimated 642,950 Asian-owned businesses in the United States in 2021, and an estimated 151,933 (24%) of them were in the Accommodation and Food Services sector. Asian-owned businesses had the largest estimated receipts ($1.0 trillion) among minority race groups.
There were an estimated 161,031 Black or African American-owned businesses with $183.3 billion in annual receipts, 1.4 million employees, and about $53.6 billion in annual payroll. About 45,015 (28%) of these businesses were in the Health Care and Social Assistance sector.
There were an estimated 48,582 American Indian and Alaska Native-owned businesses with $54.4 billion in receipts, 307,933 employees, and approximately $12.9 billion in annual payroll.
There were an estimated 8,324 Native Hawaiian and Other Pacific Islander-owned businesses with approximately $10.5 billion in receipts, 53,277 employees, and $2.5 billion in annual payroll.
The number of Hispanic-owned businesses grew about 8.2% from 375,256 in 2020 to 406,086 in 2021 and made up about 6.9% of all businesses with an estimated $572.9 billion in annual receipts, 3.0 million employees, and approximately $124.4 billion in annual payroll.