Posted on: Tuesday, May 22, 2001

Most Isle businesses owned by minorities

Advertiser Staff

Asian and Pacific Islanders owned more than half the businesses in Hawai'i in 1997, according to a report released today by the Census Bureau.

Nationwide, businesses owned by Asians and Pacific Islanders made up 4 percent of the 20.8 million nonfarm businesses, generating 2 percent of all receipts, according to the survey of business activity in 1997.

Asian and Pacific Islanders owned 53.8 percent of the 94,000 firms in Hawai'i with more than $1,000 in annual sales.

The survey figures are used by the Minority Business Development Agency, Small Business Administration and other government business assistance programs to make decisions about how to allocate resources.

In 1997 Asian and Pacific Islander businesses totaled about 913,000 nationwide, employed more than 2.2 million and generated $306.9 billion in revenues in 1997.

Hawai'i businesses accounted for 5.5 percent of the nation's total owned by Asian and Pacific Islanders. California, New York and Texas had the highest number of such firms.

The vast majority -- 71 percent or 648,300 -- were sole proprietorships.

About 60 percent of firms owned by Asians and Pacific Islanders were located in four states: California, with 316,000; New York, with 123,300; Texas, with 60,200; and Hawai'i, with 50,600. These states are also home to 60 percent of the nation's 10 Asians and Pacific Islanders.