Newspaper article THE JOURNAL RECORD

Minority Women-Owned Firms Thrive in Sooner State

Newspaper article THE JOURNAL RECORD

Minority Women-Owned Firms Thrive in Sooner State

Article excerpt

WASHINGTON (JR) -- Oklahoma ranked fourth among the fastest growth in the number of minority women-owned firms from 1997 to 2002, according to a new report from Center of Women's Business Research.

In Oklahoma, minority women-owned firms comprise 24 percent of all women-owned firms.

The 10 states with the fastest growth in the number of minority women-owned firms from 1997 to 2002 are Montana, first; North Dakota, second; Maine, third; Oklahoma, fourth; South Dakota, fifth; Vermont, sixth; West Virginia, seventh; Idaho, eighth; New Hampshire, ninth; and Alaska, 10th.

The 10 states where minority women-owned firms comprise the greatest share of all women-owned firms are Hawaii, 60 percent; District of Columbia, 40 percent; California, 35 percent; New Mexico and New York, both 32 percent; Texas, 29 percent; Maryland and Florida, both 28 percent; and Oklahoma, Alaska and Georgia, all 24 percent.

Businesses owned by women of color are growing in number at rates exceeding all women-owned firms and the national average, according to the report from Center for Women's Business Research.

The center, founded as the National Foundation for Women Business Owners, projects that as of 2002 there will be an estimated 1.2 million businesses owned by women of color in the U.S., 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.

Sponsored by Kauffman Center for Entrepreneurial Leadership, the Center's report, "Minority Women-Owned Businesses in the United States, 2002" analyzes data published by the U.S. Bureau of the Census. …

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