2013 CFED Scorecard

Financial Assets & Income

Outcome Measures

Income Poverty Rate

Asset Poverty Rate

Asset Poverty by Race

Asset Poverty by Gender

Asset Poverty by Family Structure

Liquid Asset Poverty Rate

Liquid Asset Poverty by Race

Liquid Asset Poverty by Gender

Liquid Asset Poverty by Family Structure

Extreme Asset Poverty Rate

Net Worth

Net Worth by Race

Net Worth by Income

Net Worth by Gender

Net Worth by Family Structure

Unbanked Households

Underbanked Households

Households with Savings Accounts

Consumers with Subprime Credit

Borrowers 90+ Days Overdue

Average Credit Card Debt

Bankruptcy Rate

Policy Priorities

Tax Credits for Working Families

State IDA Program Support

Lifting Asset Limits in Public Benefit Programs

Protections from Predatory Short-Term Loans

Additional Policies

Income Tax Threshold

Tax Burden by Income

Prize-Linked Savings

Paperless Payday

Trend Indicators

Change in Net Worth

Change in Asset Poverty

Change in Liquid Asset Poverty

Change in Consumers with Subprime Credit

Change in Average Credit Card Debt

Businesses & Jobs

Housing & Homeownership

Health Care

Education

CFED Assets & Opportunity Scorecard

Business Ownership by Race

Reports & Graphics

Definition

Ratio of the business ownership rate of white, non-Hispanic workers to workers of color (Black or African-American; American Indian and Native Alaskan; Asian; Native Hawaiian and other Pacific Islander; Hispanic or Latino), 2007. The business ownership rate is defined as the number of businesses in which white workers or workers of color own 50% or more of the equity, interest or stock of the business as a percentage of white workers or workers of color. 

Calculated by dividing the higher value by the lower value, i.e., the business ownership rate of white workers divided by workers of color.

A ratio of 1 indicates perfect equality; the higher the ratio, the greater the inequality. For example, the business ownership rate of white workers in South Carolina is 2.5 times higher than for workers or color.

Description

This measure describes the disparity in business ownership between white workers and workers of color. Business ownership is a fundamental engine for wealth creation, and is more prevalent for white workers than it is for workers of color. For example, in North Dakota, white workers own businesses at a rate more than three times higher than workers of color.

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Business Ownership by Race

StatePercent of
White Labor Force
Owning Firms (%)
Percent of
People of Color
in Labor Force
Owning Firms (%)
RatioRank
United States  19.6%  12.9%  1.51   
Alabama  20.3%  10.7%  1.90  36 
Alaska  21.4%  17.3%  1.24 
Arizona  20.9%  8.6%  2.42  48 
Arkansas 1 18.5%  7.8%  2.37  45 
California  25.0%  13.5%  1.85  33 
Colorado  22.6%  11.7%  1.94  37 
Connecticut  19.5%  9.8%  1.99  38 
Delaware  18.8%  9.0%  2.09  41 
District of Columbia  22.0%  12.4%  1.78  28 
Florida  22.4%  19.7%  1.14 
Georgia  21.5%  13.7%  1.57  19 
Hawaii  39.2%  14.0%  2.81  50 
Idaho  20.8%  11.7%  1.79  29 
Illinois  19.1%  11.7%  1.63  23 
Indiana  15.0%  9.6%  1.56  18 
Iowa  16.2%  7.2%  2.26  44 
Kansas  17.0%  9.3%  1.83  32 
Kentucky  17.0%  9.6%  1.77  27 
Louisiana  20.9%  13.7%  1.52  15 
Maine  20.8%  15.5%  1.34 
Maryland  19.7%  13.4%  1.47  10 
Massachusetts  18.7%  12.2%  1.53  16 
Michigan  16.4%  12.9%  1.27 
Minnesota  17.7%  9.8%  1.81  31 
Mississippi  20.3%  9.3%  2.19  43 
Missouri  16.9%  10.4%  1.63  22 
Montana  22.1%  16.1%  1.37 
Nebraska  16.8%  7.0%  2.39  46 
Nevada  20.6%  10.1%  2.04  40 
New Hampshire  18.2%  11.4%  1.59  20 
New Jersey  20.4%  10.9%  1.87  34 
New Mexico  22.5%  11.9%  1.89  35 
New York  22.9%  15.9%  1.44 
North Carolina  20.5%  9.6%  2.14  42 
North Dakota  17.2%  5.4%  3.21  51 
Ohio  15.5%  10.4%  1.49  13 
Oklahoma  21.8%  12.1%  1.80  30 
Oregon  18.7%  12.2%  1.54  17 
Pennsylvania  15.8%  11.7%  1.35 
Rhode Island  17.2%  10.7%  1.61  21 
South Carolina  20.9%  8.3%  2.53  49 
South Dakota  17.3%  11.6%  1.48  12 
Tennessee  20.2%  10.0%  2.03  39 
Texas  23.9%  13.8%  1.73  25 
Utah  20.5%  8.5%  2.40  47 
Vermont  21.2%  15.0%  1.41 
Virginia  17.1%  11.3%  1.51  14 
Washington  17.4%  11.9%  1.47  11 
West Virginia  14.2%  13.5%  1.05 
Wisconsin  14.5%  8.5%  1.70  24 
Wyoming  20.9%  11.9%  1.75  26 

Source

Survey of Business Owners. Washington, DC: U.S. Department of Commerce, Census Bureau, 2007. 

Current Population Survey, Washington, DC: U.S. Department of Commerce, Census Bureau, 2007. Data calculated by CFED using the CPS Table Creator.

Footnotes

1. Data on businesses that are equally owned by white workers and workers of color was not available for Arkansas.

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