LANSING ? In the past 25 years, self-employment rates have increased 33 percent for women, 37 percent for blacks, and 15 percent for Latinos ? compared with a 10 percent increase for white self-employment and a 2.5 percent increase for male self-employment.
The study was prepared by the Office of Advocacy of the U.S. Small Business Administration, which showed a 5 percent overall self-employment rate since 1979.
?Self-employment is a critical part of our economy,? said Thomas M. Sullivan, Chief Counsel for Advocacy. ?Self-employment provides the main source of income for a diverse group of over 12 million Americans. The increase in self-employment rates for women, blacks, and Latinos show that small business ownership can move minorities and women further into our economic mainstream.?
The report delves into the data behind published figures from the Bureau of Labor Statistics. Unlike BLS figures, this report includes incorporated as well as unincorporated self-employed.
?This study provides definitive evidence for the growth trend we?ve seen in entrepreneurship over the years,? said Robert Hughes, president of the National Association for the Self-Employed. ?Particularly strong among women, blacks and Latinos, these numbers help to better quantify the appeal of self-employment and the impact this segment of the small business population has on the economy.?
