The African-Americans and other minority groups represent the largest ethnic minority groups in America, with a population of close to 43 million. This market segment’s growth rate continues to exceed the overall population’s growth and is making continued gains in the area of education and income. The collective buying power of the African-American population is projected to be at $1.1 trillion by 2015. www.neilson.com
Minority entrepreneurs represent a largely untapped resource in the United States economy. Although the number of minority-owned businesses has grown significantly over the past twenty years, these firms continue to lag behind in economic indicators. The Kauffman Foundation is working to better understand these gaps, studying the layers of social and cultural perceptions and strengthening the infrastructures and networks that will help minority entrepreneurs be successful.