Asian-Run Firms Profitable, Study Says

Businesses run by the nation’s smaller minorities--such as those from East Asia and India--generate more income than either Latino- or black-owned firms, the Census Bureau reported Thursday.

The businesses are typically small retail firms with few employees, and the largest income producers were food stores, a survey found.

Overall, there were 255,642 minority businesses owned by Asians, American Indians and other minorities, generating total receipts of $17.9 billion in 1982.

Earlier reports based on that survey--the most current such data available--found 339,230 black-owned businesses with $12.4 billion in receipts, and 248,141 Latino-owned companies with receipts of $15 billion.

The new report concentrates on minorities other than blacks and Latinos.

Chinese formed the largest segment of this minority business group, operating 52,839 companies and generating $6.1 billion in income, the Census Bureau said.

Japanese were close behind in the number of businesses with 49,039, but their total receipts were only $2.73 billion. Koreans were third with 31,769 businesses and total receipts of $2.67 billion.

The largest category for these minority businesses was miscellaneous retail, where 36,577 businesses had receipts of $1.5 billion.

But food stores were the biggest income producer, with 10,281 stores bringing in a total of $2.5 billion.

Other popular categories included personal services, 20,129 firms, $498 million; health services, 20,063, $1.4 billion, and eating and drinking places, 17,028, $1.9 billion.

California was the leading state for firms operated by the smaller minorities, 95,982 companies with receipts of $6.7 billion. Hawaii was second with 29,040 companies and $2.4 billion in receipts.