How many businesses in New York are owned by minorities?

New York News
New York State

Map of New York (Gordon Johnson / Pixabay)

(BUSINESS.ORG) — The COVID crisis highlighted the importance of minority-owned businesses in our nation’s economy. That’s why dug into the raw numbers of companies owned by members of minority groups in each state and Washington, D.C.

Their numbers showed that of the most diverse states for small business, New York ranked No. 11. They counted 2,200,000 small businesses in New York, with 381,950 of those owned by minorities. That’s 17.4% of businesses in the state.

Meanwhile, Massachusetts, with only 8.9%, got the No. 29 spot. And Vermont, one of the tiniest states, has only 3%—clocking in at 50 out of 51. Hawaii, another of the country’s smallest, is among the most diverse states. In the top-ranked Aloha State, 39.1% of small businesses are minority-owned.

Some of the biggest states also states in the nation have some of the highest percentages of minority-owned firms. In California, 29.3% of small businesses are minority-owned, compared to 25.4% in Texas. They ranked third and fourth.

In Alaska, which claims the most raw acreage, 14.2% of small businesses are minority-owned. That’s below Texas and California, but still above the national mean, 11.64%.

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