According to a new report by BizBuySell, 86 percent of respondents who were selling businesses are Caucasians. More minorities are stepping up as buyers as Caucasian business owners decide to pursue retirement or other business activities.
In the survey, 43 percent of Asian buyers reported that they currently own a business. This indicates that they desire to own multiple businesses. In the restaurant industry, Hispanic buyers are most prominent (35 percent). Just 10 percent of Asian business purchasers and 40 percent of Hispanic business purchasers say they were born in the U.S. Among African Americans, a greater percentage of women (39 percent) are looking to purchase businesses than in any other ethnic group.
BizBuySell is an Internet business broker that currently holds 45,000 businesses for sale in 80 countries. The site contains online tools and a comprehensive directory of business brokers and owners who intend on selling their businesses. Prospective buyers utilize the site’s features to find suitable businesses. The BizBuySell report surveyed over 2,000 prospective sellers and buyers in the United States.
A separate study by the U.S. Chamber of Commerce also indicated shifting numbers in terms of gender equality in business. In the United States, women make up about 38 percent of all entrepreneurs and self-employed workers. This trend provides further opportunities for economic resurgence for economic development officials and state governors.
The states with the highest percentage of female self-employed workers and entrepreneurs are Oregon (45.4 percent) and Texas (44.5 percent).
The states with the lowest percentage of female self-employed workers and entrepreneurs were North Dakota (27.9 percent), Arkansas (30.6 percent), Mississippi (31.2 percent) and Louisiana (31.4 percent).