CALIFORNIA BUSINESS MINUTE
Asian Business
04-29-11
Hi, I am Tim Johnson and welcome to the California Business Minute.
The number of U.S. businesses owned by people of Asian origin increased 40.4 percent
to 1.5 million between 2002 and 2007, increasing at more than twice the national rate,
according to U.S. Census Bureau in a press release. These businesses also generated
$507.6 billion in receipts, a 55.4 percent increase from 2002.
Asian-owned businesses continued to be one of the strongest segments of the nation's
economy, bringing in more than half a trillion dollars in sales in 2007 and employing
more than 2.8 million people.
The new data comes from the Survey of Business Owners: Asian-Owned Businesses: 2007.
The survey provides detailed information every five years for Asian-owned businesses,
including the number of firms, sales and receipts, number of paid employees and annual
payroll.
California had the largest number of Asian-owned businesses with 509,097, followed by
New York (196,852) and Texas (114,336).
Among counties, Los Angeles County had the largest number of Asian-owned businesses
with 183,092, followed by Queens County, N.Y. (68,606) and Orange County, CA (63,416).
The cities with the largest number of Asian-owned businesses in 2007 were New York (153,885)
and Los Angeles (61,607).
Metropolitan areas with the largest number of Asian-owned businesses were Los Angeles-
Long Beach-Santa Ana, (246,429), New York-Northern New Jersey-Long Island, N.Y.-N.J.
(240,371), and San Francisco-Oakland-Fremont (89,508).
I am Tim Johnson and this has been the California Business Minute.
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