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

Microenterprise Ownership Rate

Reports & Graphics

Definition

Total number of firms with 0-4 employees and nonemployer firms as a percentage of people in the labor force, 2010.

Description

For low-income individuals, self-employment is a significant source of employment and income, and business ownership represents an important opportunity to build assets. The higher the microenterprise ownership rate (and the higher the small business ownership rate), the higher the percentage of residents who have the opportunity to build wealth through business capital accumulation.

A microenterprise is defined as a business that requires $35,000 or less in start-up capital and has five or fewer employees. However, more than 80% of microenterprises in the United States employ a single owner-operator.

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Microenterprise Ownership Rate

StatePercent of Labor Force Owning
Microenterprises (%)
Rank
United States  16.7%   
Alabama  16.6%  18 
Alaska  17.4%  13 
Arizona  14.8%  42 
Arkansas  16.3%  22 
California  17.7%  10 
Colorado  18.6% 
Connecticut  15.5%  32 
Delaware  14.8%  40 
District of Columbia  15.7%  31 
Florida  21.5% 
Georgia  18.7% 
Hawaii  16.4%  20 
Idaho  17.7%  11 
Illinois  16.0%  25 
Indiana  13.9%  49 
Iowa  14.2%  44 
Kansas  14.4%  43 
Kentucky  15.1%  37 
Louisiana  18.6% 
Maine  18.8% 
Maryland  15.9%  28 
Massachusetts  15.9%  27 
Michigan  16.5%  19 
Minnesota  15.3%  34 
Mississippi  16.8%  16 
Missouri  15.1%  36 
Montana  20.7% 
Nebraska  15.0%  39 
Nevada  14.8%  41 
New Hampshire  16.3%  23 
New Jersey  16.0%  26 
New Mexico  15.1%  38 
New York  19.5% 
North Carolina  16.1%  24 
North Dakota  15.4%  33 
Ohio  14.2%  45 
Oklahoma  17.2%  14 
Oregon  15.7%  30 
Pennsylvania  14.0%  48 
Rhode Island  15.2%  35 
South Carolina  15.9%  29 
South Dakota  16.4%  21 
Tennessee  16.8%  15 
Texas  17.6%  12 
Utah  16.7%  17 
Vermont  19.7% 
Virginia  14.1%  46 
Washington  14.0%  47 
West Virginia  13.2%  50 
Wisconsin  12.8%  51 
Wyoming  18.5% 

Source

Statistics of U.S. Businesses (SUSB). Washington, DC: U.S. Department of Commerce, Census Bureau, 2010.

Non-Employer Statistics. Washington, DC: U.S. Department of Commerce, Census Bureau, 2010. 

Local Area Unemployment Statistics. Washington, DC: U.S. Department of Labor, Bureau of Labor Statistics, 2010.

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