Average annual receipts per firm expressed in thousands of 2015 dollars. Universe includes all firms classifiable by gender, ethnicity, race, and veteran status. Firms are classified by race/ethnicity and gender based on the self-identification of the majority owner. A single firm may be tabulated in more than one racial/ethnic group if the majority owner(s) was reported to be of more than one race. All racial/ethnic groups other than white and people of color may include Latinos who identify with each particular group. No data is reported for geographies or demographic subgroups with insufficient sample sizes. For more information, see the data and methods document. | National Equity Atlas Data & Methods: Technical Documentation
Average annual receipts per firm by race/ethnicity (in thousands):
Do all people have the opportunity to start a business?
Why it matters
Creating inclusive entrepreneurial ecosystems to ensure people of color and women haveaccess growth capital, information, and networks to help grow their businesses is critical for inclusive growth. Research shows that businesses owned by people of color are more likely to hire employees of color than other firms, and they generate increased economic activity in low-income communities and communities of color.
Grow an equitable economy: Policies to help small businesses thrive
- Ensure access to affordable growth capital for underrepresented entrepreneurs
- Create dedicated technical assistance and business supports for underrepresented entrepreneurs in high-growth, innovation sectors
- Create dedicated accelerators for underrepresented entrepreneurs in high-growth, innovation sectors
- Direct economic development efforts to support the growth of existing businesses that provide jobs for low-income residents
- Help growing companies owned by underrepresented entrepreneurs access affordable office and commercial space
- Ensure underrepresented entrepreneurs have access to business opportunities created through public sector spending, anchor institution spending, and along the supply chains of major corporations
- Implement workforce development strategies that ensure trained workers for growing companies
Creative Financing Program Helps Small Businesses in California Thrive
Based in Oakland, California, ICA Fund Good Jobs utilizes a framework called the Good Employer Matrix (GEM), which measures good jobs based on providing livable wages and health benefits, minimizing barriers to entry, building strong and inclusive cultures, scheduling shifts fairly and reliably, and actively developing employees to help them advance in their careers. This hybrid banking institution/venture capital fund leverages its GEM tool for underwriting investments, and for providing financial incentives (such as interest rate reductions) for companies that hire from local workforce development partners and implement strategies that demonstrate improvement in their GEM score over time. Since 1996 the loan fund has helped thousands of small businesses generate total revenues over $1 billion. Learn more.