Minority women-owned businesses growing throughout US

Global Business

Minority women-owned businesses growing throughout US

Although today’s U.S. job numbers were somewhat disappointing, the U.S. economy continues to grow. One area that’s been particularly strong in recent years is minority women-owned businesses.

CCTV America’s Hendrik Sybrandy reports.

Minority women-owned businesses growing throughout US

Minority women-owned businesses growing throughout US

Although today’s U.S. job numbers were somewhat disappointing, the U.S. economy continues to grow. One area that’s been particularly strong in recent years is minority women-owned businesses.

According to a new report by the Center for Global Policy Solutions, minority-owned businesses added 72 percent of the new jobs created in the U.S. between 2007-2012 while white-owned businesses shed nearly 2 million jobs.

Rosy Aburto McDonough runs the Minority Business Office for the state of Colorado. She said women now realize their value in the workforce and that U.S. government set aside programs for minority contractors have certainly helped.

She also said female business owners are often more collaborative and flexible than their male counterparts. That can lead to success.

“People are really starting to think outside the box,” Dr. Angela Tran, Med-fit Medical Weight Loss’s owner, said. Tran left a secure job in medicine and spent a year working with small business consultants to set up her practice.

Minority business owners have yet to leave a profound footprint, like Barbara Myrick, B&M Construction’s owner said in the video.


Algernon Austin on minority-owned businesses

A latest study backs up research that shows non-white entrepreneurs were key drivers of job creation between 2007-2012. At the same time, white-owned businesses shed nearly 2 million jobs.

The Center for Global Policy Solutions said their research found that minority-owned businesses were responsible for adding more than 70 percent of the new jobs during those 5 years.

CCTV America’s Racelle Akuffospoke to Algernon Austin about the trends to watch in minority-owned businesses.