Which group accounted for the largest ownership share among minority-owned businesses in 2015?

• A. Asian Americans
• B. African Americans
• C. Hispanic Americans
• D. Native Americans

Answer: (A)

When we look at ownership shares among minority-owned businesses, we’re counting how many firms are owned by each racial or ethnic group. In 2015, Asian Americans owned the most minority-owned firms. This reflects a relatively high rate of entrepreneurship within that group and a concentration of Asian American business owners in sectors with many small to mid-sized firms, plus a sizable Asian American population. So even though other groups may be larger in population, the number of Asian American-owned firms was greater, giving them the largest share. Native Americans typically have a smaller share due to smaller population and different economic conditions, while Hispanic and African American ownership, though significant, did not exceed Asian American ownership in that year.