Businesses owned by women of color are growing in number at rates exceeding all women-owned firms and the national average, according to a new report from Center for Women’s Business Research (founded as the National Foundation for Women Business Owners).

The Center projects that as of 2002, there will be an estimated 1.2 million businesses owned by women of color in the United States, employing more than 822,000 people and generating $100.6 billion in sales.

Between 1997 and 2002, the Center estimates that the number of privately-held, majority-owned minority women-owned firms will have grown by 31.5 percent, compared to 14.3 percent among all women-owned firms, 29.7 percent among all minority-owned firms, and 6.8 percent among all U.S. firms.

(Source: Center for Women Business Research)

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