Editorial: Increase in minority, female-owned businesses benefits us all

Published 12:00 am Sunday, August 7, 2005

Minnesota saw the third largest increase in the number of businesses started by minority and female entrepreneurs over the past decade, according to the U.S. Census Bureau.

While a slow economy, an increased minority population, a better educated population and more resources in recent years are likely factors in the positve numbers, we think the Minnesota residents’ drive to succeed is also significant.

Numbers are in the double digits for businesses started by Hispanics (31 percent), 20 for women-owned businesses and 24 percent for Asian-owned businesses.

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To be counted for the study, acompany had to have grossed more than $1,000 in 2002 and have a 51-percent minority ownership.

Whatever the reason for the increases, it proves the enterpreneurial spirit, with a little help, can flourish in this state, and all residents are undoubtedly richer because of it.