More small businesses are owned by males than females
According to recent data, the ownership of small businesses in the United States is still predominantly male-dominated, with males owning a larger share than females. However, it is worth noting that the gap between male and female ownership is gradually decreasing. Currently, females own 43.2% of small businesses, indicating a significant increase in female entrepreneurship in recent years.
In terms of racial diversity, minorities own 19.4% of small businesses. Among these, Hispanics constitute a significant portion, owning 13.8% of small businesses. This highlights the growing entrepreneurial spirit within the Hispanic community, contributing to the overall diversity of small business ownership.
On the other hand, veterans are one of the least represented groups in small business ownership, accounting for just 6.4% of small businesses. This statistic sheds light on the need for increased support and opportunities for veterans to transition into entrepreneurship after their military service.
Overall, while progress has been made in diversifying small business ownership, there is still work to be done to ensure equal representation and opportunities for all individuals, regardless of gender, race, or veteran status.
