Minorities, women-owned businesses thrive in US

Businesses owned by minorities and women grew phenomenally in 1997-02 period in US, as per data released by US Census Bureau.

Businesses owned by minorities and women grew phenomenally between 1997 and 2002 in US, according to data released by US Census Bureau.

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Nationwide, the number of minority- and women-owned businesses grew at a higher rate than the national average, the data indicates.

For example, the number of all businesses nationwide increased by 10 per cent between 1997 and 2002.

However, the growth rate among minority- and women-owned firms was at least twice the national average, ranging from 67 per cent for native Hawaiian and other Pacific islander-owned firms to 20 per cent for firms owned by women.