Minority Business Development Agency

1401 Constitution Avenue, NW

Washington, DC 20230

202-482-2332

www.mbda.gov

Entrepreneurial Parity Offers Greater Economic impact

Entrepreneurial 

parity is defined 

as reaching 

proportionality 

between the Asian 

American adult 

population and 

business measures, 

such as number of 

firms, gross receipts, 

and employees. 

Quick Facts a

◊ There are 1.5 million Asian American-owned firms in 

the U.S. 

◊ Asian American-owned firms contribute $506 billion 

in U.S. economic output and 2.8 million jobs per 

year.

◊ Asian American-owned firms with employees 

average 7 workers and $1.1 million in annual 

receipts.

◊ Between 2002 and 2007, the number of Asian 

American-owned firms grew 40 percent or more in 

26 states.

◊ Asian American-owned firms are more concentrated 

in California, Florida, Hawaii, Illinois, New Jersey, 

New York, and Texas.

a U.S. Census Bureau, 2007 Survey of Business Owners, June 2010 

b U.S. Census Bureau, Annual population estimates, June 2010

c U.S. Census Bureau, 2002 Survey of Business Owners, September 2006 

d U.S. Census Bureau, Ownership Characteristics of U.S. Exporting Firms, June 2012

e

 University of Georgia, Selig Center for Economic Growth, The Multicultural Economy 2009

Asian 

American

Firms

All Minority

Firms

Non-Minority 

Firms

Number of 

firms

1.5

million

5.8

million

20.1

million

Combined gross 

receipts

$506

billion

$1.0 

trillion

$9.8 

trillion

Average gross 

receipts

$327

thousand

$178

thousand

$488

thousand

Number of firms 

with employees

397

thousand

767

thousand

4.3

million

Combined

receipts of firms 

with employees

$453.6 

billion

$860.5 

billion

$9.1 

trillion

Average receipts 

of firms with 

employees

$1.1

million

$1.1

million

$2.1

million

Number of paid 

employees 

2.8

million

5.8 

million

50.1 

million

Economic Impact: $506 Billion in Revenues and 2.8 Million Jobs a

0.0

0.3

0.6

0.9

1.2

1.5

$0

$120

$240

$360

$480

$600

0.0

0.5

1.0

1.5

2.0

2.5

3.0

Entrepreneurial Parity of Asian American-Owned Firms

1.5

1.3

Actual Parity

Number of Firms (in millions)

$506 $536

Actual Parity

Gross Receipts (in billions)

2.8 2.8

Actual Parity

Paid Employees (in millions)

a,c

Population Buying Power e

Asian American All Minority Non-Minority

$508.6 billion $2.46 trillion $8.25 trillion

Fact Sheet

Asian American-Owned Firms
Exports and Global Reach d

◊ Asian American-owned firms that export average 

$7.5 million in annual receipts, compared to 

their non-exporting counterparts who average 

$250,000.

◊ Exports represent 16 percent of total revenue for 

Asian American-owned exporting companies, 

compared to 5.4 percent for U.S. non-minority 

exporting firms. 

◊ About 6.8 percent of Asian American-owned 

firms export goods and services, compared to 

4.7 percent of non-miniroty firms.

Growth in Number of Asian American-Owned Firms (2002—2007) c

Five percent of Asian American-owned firms are 

considered high-revenue. These firms are responsible for 

72% of the total receipts and 58% of all jobs created by 

Asian American firms. 

5%

Industry Sectors of Asian American-Owned Firms

5%

7%

33%

14%

12%

11%

5% 9%

Professional, Scientic &

Technical Services

Retail

Healthcare & Social Assistance

Accommodations & Food Service

Real Estate & Leasing

Transportation & Warehousing

Construction

Administrative Support, Waste

Management & Remediation

Other

a

-10%

0%

10%

20%

30%

40%

50%

60%

Asian American Firms Non-Minority Firms

Gross Receipts

Growth of Asian American-Owned Firms (2002-2007)

Employees

55%

21%

-1%

27%

40%

Number of

Firms

9%

a,b

0%

20%

40%

60%

80%

Firms $1 Million and Above Firms Under $1 Million

Total Receipts Total Employees

28%

72%

58%

42%

High-Revenue Asian American-Owned Firms

(Annual receipts over $1 million)

a

0 to < 30%

-1 to < 0%

30 to < 40%

40 to < 60%

60 to 100%

WA

OR

MT ND

MN

WI

NV

ID

WY

SD

IA

CA

AZ

UT

TX

FL

NE

KS

CO

NM

AK

OK AR

LA

MI

OH

IN IL

TN

KY

GA MS

SC

NC

VA

PA

NY

VT

ME

NH

AL

CT

HI

MO

NJ 

WV

MA

RI

Other sectors include agriculture, utilities, manufacturing, 

wholesale, information, finance & insurance, 

accommodation & food services, and more.

DE

Growth Rates

Visit www.mbda.gov for more information about U.S. minority-owned firms.