This is a country that was built and founded by immigrants. Back
then they were considered the minority but those early immigrants have
now become the majority. The majority of the American population are considered
to own the large corporations such as Windows, which is true, but in reality
minorities own many small businesses and corporations as well. Women (yes,
they are still considered a minority), African Americans, Hispanics, and
Native Americans own the majority of small businesses in the United States.
The recent results of the Census Bureau have shown those women as entrepreneurs
have increased 16 percent to 5.4 million since
1992. Candice Choi stated on April 4, 2001:
"Women-owned firms still only make up 26 percent of the nation's 20.8 million non-farm businesses and a mere 4.4 percent of the $18.6 trillion in receipts for all businesses."
Even though women have taken a larger role
in the nations business they aren't recognized. These women have
to prove to themselves as well as to others that they are just as good
as anyone else, (men). An example of a women-owned financial institution
would be the Muriel Siebet & Company. This institution gives
charitable donations to non-profit women's organization. Now this
is only one of the 26 percent of women-owned firms in the United States.
In the New York area alone, we have some of the nations largest minority-owned
companies. Joseph Unanue, a Hispanic, is the Chief Executive of Goya
Foods Inc. (that was pretty obvious) which began in 1936. This is
one of the largest foods manufacturing marketing and distribution comp
any throughout the world.
Everyone knows the famous "1-800-Dial-A-Mattress,
leave off the last S forSAVINGS." A retail company of mattresses
and related bedding items. Surprisingly a Hispanic runs this
company by the name of Napoleon Barragan. Did you know that?
Another company that is minority-owned in the New York area is FUBU which
stands for "for us by us", an apparel and accessories company with Daymond
John, an African American as the Chief Executive. This company began
in 1992 and in 1999 it had revenues of 350 millions. This shows other
corporations, especially apparel corporation, such as Tommy Hilfiger, that
they have competition. Rush Communications, an entertainment, fashion,
advertising, Internet portal and film company, which began in 1991, is
being run by Russell Simmons, one of Americas top loved businessmen.
In the 1997 Commerce Department's Census Bureau, African American alone
Native Americans, although some may not hear much about them, they still
have their small businesses in their hometowns and produce money for both
themselves and the nation. One of these businesses is the Blackfeet
National Bank. This bank generates money in order to help its ethnic
community. They are still struggling to become recognized but they
still continue to be stereotyped, which makes it difficult for them to
excel. But they are trying and one must at least respect that.
It has been said that minorities are not capable of owning or operating
their own businesses, this just shows people what a long way minorities
have come to try and become part of the majority. This also proves
of just how important minorities are in United States businesses.
Hispanics account for 12.5 percent United
States population, African Americans make
up 12.9 percent, and Asians account for 3.6 percent. As the minority
group grow so will their involvement in business.
For those entrepreneurs who are thinking about starting your own business
you can visit the website www.minoritiesinbusiness.com.
This website will teach you, step-by-step, the process of starting your
own business. From how to promote your business, up to the financial
process. This site helps those prospective entrepreneurs become part
of a big family.
