America’s Business Landscape: Diversity and Entrepreneurship Drive the U.S. Economy 

According to the U.S. Census Bureau’s 2023 Annual Business Survey (covering 2022 data), America’s business world continues to thrive — powered by millions of entrepreneurs from diverse backgrounds who fuel local economies, innovation, and opportunity.

📊 By the Numbers:

There are approximately 5.9 million employer firms across the United States, and ownership is as dynamic as the people behind them:

• 22.3% are women-owned — about 1.3 million businesses

• 22.6% are minority-owned — about 1.3 million businesses

• 4.7% are veteran-owned — approximately 273,500 businesses

These entrepreneurs aren’t just running companies — they’re creating jobs, generating billions in revenue, and making meaningful contributions to their communities.

💼 Veteran-Owned Businesses: Strength in Service

Veteran entrepreneurs continue to make a lasting impact in the private sector. According to the survey:

• Receipts: $884.5 billion

   

• Employees: 3.2 million

   

• Annual Payroll: $179.7 billion

Veteran-owned businesses bring leadership, resilience, and mission-driven purpose into every industry — from manufacturing to technology, logistics, and professional services. Their continued success underscores the importance of supporting programs and initiatives that empower transitioning service members and military families to pursue business ownership.

👩‍💼 Women-Owned Businesses: Leading with Innovation

Women-owned firms are a cornerstone of economic growth, creativity, and community engagement. In 2022, they accounted for:

• Receipts: $2.1 trillion

   

• Employees: 11.4 million

   

• Annual Payroll: $508.5 billion

These numbers tell a powerful story — women entrepreneurs are not only starting businesses at historic rates but are also building sustainable enterprises that employ millions and strengthen the national economy.

🌎 Minority-Owned Businesses: Diversity as an Economic Driver

Minority-owned businesses continue to grow across all sectors, contributing significantly to innovation, job creation, and cultural influence. Representing nearly one in four U.S. employer firms, these businesses demonstrate how diversity and inclusion are key to a thriving, resilient economy.

💬 The Bigger Picture

The latest data from the Census Bureau reinforces what many already know: America’s economy is powered by its people — diverse, entrepreneurial, and determined.

Each business, whether owned by a veteran, woman, or minority entrepreneur, adds to the fabric of the nation’s growth story. Supporting these communities through access to capital, fair policy, and resource networks is essential to building a more inclusive and sustainable business ecosystem.

Source:
U.S. Census Bureau, “2023 Annual Business Survey: Employer Businesses” (2024 Press Release)