August 4, 2021

Business Research/Data: U.S. Census Releases Inaugural Annual Survey of Entrepreneurs

From the US Census:

Among the 5.4 million U.S. firms with paid employees, 481,981, or 8.9 percent, had been in business for less than two years in 2014, according to findings from the U.S. Census Bureau’s inaugural Annual Survey of Entrepreneurs.

In contrast to the employer firms that had been in business for less than two years, there were 167,917, or 3.1 percent, that had been in business for 16 years or more. More than 4 in 10 employer firms (2.4 million, or 44.1 percent) have been in business between 11 and 15 years.

Beginning with today’s release of 2014 statistics and continuing through the release of 2016 data, the Annual Survey of Entrepreneurs will supplement the Survey of Business Owners, conducted every five years. The Annual Survey of Entrepreneurs provides a timely, more frequent socio-economic portrait of the nation’s employer businesses by gender, ethnicity, race, and veteran status. It includes a relevant topic not found in the Survey of Business Owners: the number of years a firm has been in business.

America's Entrepreneurs

Source: U.S. Census Bureau

The survey is a public-private partnership among the U.S. Census Bureau, the Ewing Marion Kauffman Foundation and the Minority Business Development Agency.

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The 2014 Annual Survey of Entrepreneurs statistics show that there were 949,318 minority-owned firms with paid employees, comprising 17.5 percent of all employer firms. These minority-owned employer firms generated $1.1 trillion in receipts (approximately 3.3 percent of the receipts for all employer firms). Among minority-owned employer firms, 12.9 percent had been in business for less than two years, while only 1.4 percent had been in business for 16 or more years.

Of the 949,318 minority-owned firms with paid employees, more than half (506,595, or 53.4 percent) were Asian-owned; 108,473 (11.4 percent) were black or African-American-owned; 26,757 (2.8 percent) were American Indian or Alaska Native-owned; 4,701 (0.5 percent) were Native Hawaiian and Other Pacific Islander-owned; and close to a third (298,563, or 31.5 percent) were Hispanic-owned. The owner of a Hispanic-owned firm may be of any race.

Women owned approximately 1.1 million employer firms, or 19.4 percent, with receipts totaling $1.3 trillion, or 4.0 percent. Of these, 10.8 percent had been in business for less than two years, whereas 1.9 percent had been in business for 16 or more years.

Veterans owned 405,235 employer firms, or 7.5 percent, with receipts of $924.1 billion, or 2.8 percent. Of these, 6.8 percent had been in business for less than two years, while 3.6 percent had been in business for 16 or more years.

Resources

Complete Summary and Highlights

Graphic Embedded Above

Data Files

See Also: Kauffman Index of Startup Activity (August 2016)
From the Ewing Marion Kauffman Foundation.
See Also: Additional Reports in Series

About Gary Price

Gary Price (gprice@mediasourceinc.com) is a librarian, writer, consultant, and frequent conference speaker based in the Washington D.C. metro area. Before launching INFOdocket, Price and Shirl Kennedy were the founders and senior editors at ResourceShelf and DocuTicker for 10 years. From 2006-2009 he was Director of Online Information Services at Ask.com, and is currently a contributing editor at Search Engine Land.

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