Index: Economy / Subcategory: Business

Minority Business Ownership

Date Updated: 10/12/2011

The United States Economic Census measures the number of minority- and women-owned firms in relation to universal firms. Universal firms are all businesses, without regard to the race, ethnicity, or gender of the business owners. Total minority-owned firms refer to businesses owned by Blacks, Hispanics, Asians, Pacific Islanders, American Indians, and Alaska Natives.

Please note: Because various sources report ethnic/racial categories differently, it is the policy of COMPASS to utilize the categories designed by the data source.

What this chart shows: Percentage of Minority-Owned Firms in the United States, Colorado, Larimer County, Fort Collins & Loveland - 2007

Data Source: United States Economic Census - Survey of Business Owners

See data table

What the above data tell us:

In 2007, the United States had a much higher percentage of minority-owned firms than Colorado and Larimer County. This could be due to the fact that Colorado and Larimer County have lower percentages of minorities in the total population than the nation as a whole (See Population by Race/Ethnicity).

What this chart shows: Firm Ownership by Race/Ethnicity in Larimer County - 2007

Data Source: United States Economic Census - Survey of Business Owners

See data table

What the above data tell us:

In 2007, 92.8% of Larimer County firms were owned by White residents. Of the 2,227 firms in Larimer County owned by minorities, 1,221 (54.8%) were owned by Hispanics. Hispanics represented the largest percentage (9.9%) of Larimer County's total minority population in 2007. Together, Black, American Indian and Asian firm ownership constituted 2.7% of total firms in the county.

NOTE: The percentages do not add to 100% because Hispanic is an ethnicity and can be of any race.

What this chart shows: Top Five Minority-Owned Businesses by Industry & Race/Ethnicity in Colorado - 2007

Data Source: United States Economic Census - Survey of Business Owners

See data table

What the above data tell us:

Data for Larimer County was not available because of the small sample size.

Of the top five minority-owned sectors in Colorado, Hispanics owned the largest percentage of all of the sectors. This is likely to due to the fact that Hispanics are the largest minority in Colorado.

Additional Information:

The United States Economic Census is updated every five years. Historical information from 1987, 1992, 1997 and 2002 is available on their website. The 2012 Advance Report will be released in February 2014.

Related Information on COMPASS -

Other Resources -

Standards or Targets: N/A

Data Tables:

Minority-Owned Firms - 2007

Area

Number of Total Firms

Number of Minority Firms

Percent Minority Firms

United States

27,092,908 5,759,209 21.3%

Colorado

547,770 59,647 10.9%

Larimer County

34,660 2,227 6.4%

Fort Collins

14,921 955 6.4%

Loveland

7,525 650 8.6%

See chart

Firm Ownership by Race/Ethnicity in Larimer County - 2007

Race/Ethnicity

Number of Firms

Percent of Total Firms

White

32,153 92.8%

Total Minority

2,227 7.7%

Black

137 1.9%

American Indian

170 0.5%

Asian

618 1.8%

Hispanic

1,221 3.5%

See chart

Minority-Owned Firms by Industry in Colorado, 2007

Hispanic

Hispanic-Owned Firms

All Firms

Percent of All Firms

Other (except Public Administration)

4,221

51,438 8.2%

Construction

7,215

73,161 9.9%

Professional, Scientific & Technical Services

3,612

93,162 3.9%

Retail Trade

2,738

51,231 5.3%

Real Estate & Rental & Leasing

2,116

63,278 3.3%

Transportation & Warehousing

1,717

17,113 10.0%

Accommodation & Food Services

1,121

14,042 8.0%

Finance & Insurance

914

24,448 3.7%

Wholesale Trade

504

13,191 3.8%

Information

251

9,129 2.7%

Black

Black-Owned Firms

All Firms

Percent of All Firms

Other (except Public Administration)

1,329

51,438 2.6%

Construction

470

73,161 0.6%

Professional, Scientific & Technical Services

1,222

93,162 1.3%

Retail Trade

925

51,231 1.8%

Real Estate & Rental & Leasing

510

63,278 0.8%

Transportation & Warehousing

1,059

17,113 6.2%

Accommodation & Food Services

222

14,042 1.6%

Finance & Insurance

420

24,448

1.7%

Wholesale Trade

96

13,191 0.7%

Information

149

9,129 1.6%

American Indian

American Indian-Owned Firms

All Firms

Percent of All Firms

Other (except Public Administration)

796

51,438 1.5%

Construction

785

73,161 1.1%

Professional, Scientific & Technical Services

620

93,162 0.7%

Retail Trade

386

51,231 0.8%

Real Estate & Rental & Leasing

281

63,278 0.4%

Transportation & Warehousing

231

17,113 1.3%

Accommodation & Food Services

n/a

14,042 n/a

Finance & Insurance

79

24,448 0.3%

Wholesale Trade

77

13,191 0.6%

Information

26

9,129 0.3%

Asian

Asian-Owned Firms

All Firms

Percent of All Firms

Other (except Public Administration)

3,992

51,438 7.8%

Construction

308

73,161 0.4%

Professional, Scientific & Technical Services

2,026

93,162 2.2%

Retail Trade

1,934

51,231 3.8%

Real Estate & Rental & Leasing

963

63,278 1.5%

Transportation & Warehousing

182

17,113 1.1%

Accommodation & Food Services

1,481

14,042 10.5%

Finance & Insurance

383

24,448 1.6%

Wholesale Trade

268

13,191 2.0%

Information

92

9,129 1.0%

See chart