Census Bureau Releases New Data on Minority-Owned, Veteran-Owned and Women-Owned Businesses
 The U.S. Census Bureau today released new estimates on the characteristics of employer businesses. According to the 2022 Annual Business Survey (ABS), which covers reference year 2021, there were approximately 5.9 million employer firms in total, of which, 1.2 ?million (21%) were minority-owned, 304,823 (5.2%) were veteran-owned, and around 1.3 million (22%) were owned by women. This release also includes demographic data by Urban and Rural classification, employment size, receipt size, and the years in business of each firm.
Other highlights:
- Veteran-owned businesses had an estimated $922.2 billion in receipts, 3.3 million employees, and $179.9 billion in annual payroll.
- Women-owned businesses had an estimated $2.1 trillion in receipts, 10.5 million employees, and $499.4 billion in annual payroll.
- There were an estimated 642,950 Asian-owned businesses in the United States in 2021, and an estimated 151,933 (24%) of them were in the Accommodation and Food Services sector. Asian-owned businesses had the largest estimated receipts ($1.0 trillion) among minority race groups.
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 Business Trends and Outlook Survey Data Release
The U.S. Census Bureau today released new data products from the Business Trends and Outlook Survey (BTOS), a survey that measures business conditions and projections on an ongoing basis. The BTOS now includes data for multiunit/multilocation businesses. BTOS will continue to collect data complementary to key items found on other Economic surveys, such as revenues, employees, hours, and inventories.? Content inquiring about the use of artificial intelligence or the plan to use artificial intelligence is now available. Additional details on artificial intelligence use and types used will be added for one cycle starting December 4.
BTOS data are representative of all employer businesses in the U.S. economy, excluding farms. BTOS provides insight into the state of the economy by providing continuous, timely data for key economic measures every two weeks. ?By providing continuous data with geographic and subsector detail, BTOS captures the impact of events like natural disasters and economic crises, and assists in monitoring recovery efforts.
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