A new study by the International Business Machines Corp. found that minority women are the fastest-growing segment of business owners in the country. In the past ten years, firms which African American, Latino, Asian and Native American women own have risen in number by 153% to 1 million businesses nationally. Minority women’s businesses employ 1.7 million people and produce annual sales of $184 billion. IBM conducted its research by asking The National Foundation for Women Business Owners in Washington, DC to gather and study U.S. census data. Phyllis Hill Slater, president of the National Association of Women Business Owners, said, “For the first time, we now have up-to-date information on firms owned by minority women, which demonstrates their importance to the economy.”
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