Biz2Credit's Asian-Owned Business Study - 2014
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California has the highest number of Asian-owned companies: 284 (15.32%), followed by New York: 238 (12.84%); Texas: 157 (8.47%), New Jersey: 156 (8.41%), and Florida: 137 (7.39%). About Biz2credit - Asian Small Business Credit Study Biz2Credit analyzed the financial performance of more than 1,000 Asian-owned businesses with less than 250 employees and less than $10 million in annual revenues from across the country that have been in operation for more than 1 year, as well as startups. California Highest in Asian-owned companies 284(15.32%) 1 New York Asian-owned companies: 238 (12.84%) 2 Texas Asian-owned companies: 157 (8.47%) 3 Florida Asian-owned companies: 137 (7.39%) 5 New Jersey Asian-owned companies: 156 (8.41%) 4 October 2014 The average age of Asian-owned businesses was 33 months, compared to just 25 months for businesses owned by all other ethnicities. "We are seeing tremendous growth in the number of businesses owned by Asian Americans," said Biz2Credit CEO Rohit Arora, one of the nation's leading experts in small business finance. "On the East Coast and in Silicon Valley, many of them are in the booming IT sector." "Interestingly, in the Midwest, immigrants from South Asia are opening or expanding gas station-convenience stores at unprecedented rates. They are also purchasing existing businesses from retiring Baby Boomers," Arora added. "The demographics of this country are changing substantially - even in areas that are not traditionally known for their diversity." Biz2Credit Study Finds Asian-Owned Small Businesses Have Higher Average Annual Revenue and Credit Scores Than Other Firms Asian-Owned Businesses: 33 Months The average age of business Other Businesses: 25 Months The average annual revenue for Asian-owned businesses was $271,983, compared to $82,866 for non-Asian owned companies. Asian-Owned Businesses: $271,983.00 The average annual revenue Non-Asian Owned Companies: $82,866.00 As a result of the positive revenue performance, Asian-owned companies averaged a 658 credit score, compared to 618 for all other groups. Asian-Owned Companies: 658 Credit Score The average credit score All Other Groups: 618 Credit Score The average operating expenses for Asian-owned firms was $110,579, compared to $27,076 for all other groups. Asian-Owned Businesses: $110,579 The average operating expenses Non-Asian Owned Companies: $27,076 Analysis Examined Income, Expenses and Age of Business
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Transcript of Biz2Credit's Asian-Owned Business Study - 2014
California has the highest number of Asian-owned companies: 284 (15.32%), followed by New York: 238 (12.84%); Texas: 157 (8.47%),
New Jersey: 156 (8.41%), and Florida: 137 (7.39%).
About Biz2credit - Asian Small Business Credit Study
Biz2Credit analyzed the financial performance of more than 1,000 Asian-owned businesses with less than 250 employees and less than $10 million in annual revenues from across the country that have been in operation for more than 1 year, as well as startups.
CaliforniaHighest in Asian-ownedcompanies 284(15.32%)1
New YorkAsian-owned companies:238 (12.84%)2
TexasAsian-owned companies:157 (8.47%)3
FloridaAsian-owned companies:137 (7.39%)5
New JerseyAsian-owned companies:156 (8.41%)4
October 2014
The average age of Asian-owned businesses was 33 months, compared to just 25 months for businesses owned by all other ethnicities.
"We are seeing tremendous growth in the number of businesses owned by Asian Americans," said Biz2Credit CEO Rohit Arora, one of the nation's leading experts in small business �nance. "On the East Coast and in Silicon Valley, many of them
are in the booming IT sector."
"Interestingly, in the Midwest, immigrants from South Asia are opening or expanding gas station-convenience stores at unprecedented rates. They are also purchasing existing businesses from retiring Baby Boomers," Arora added. "The
demographics of this country are changing substantially - even in areas that are not traditionally known for their diversity."
Biz2Credit Study Finds Asian-Owned Small Businesses Have Higher Average Annual Revenue
and Credit Scores Than Other Firms
Asian-Owned Businesses: 33 Months
The average age of business
Other Businesses: 25 Months
The average annual revenue for Asian-owned businesses was $271,983, compared to $82,866 for non-Asian owned companies.
Asian-Owned Businesses: $271,983.00
The average annual revenue
Non-Asian Owned Companies: $82,866.00
As a result of the positive revenue performance, Asian-owned companies averaged a 658 credit score, compared to 618 for all
other groups.
Asian-Owned Companies: 658 Credit Score
The average credit score
All Other Groups: 618 Credit Score
The average operating expenses for Asian-owned �rms was $110,579, compared to $27,076 for all other groups.
Asian-Owned Businesses: $110,579
The average operating expenses
Non-Asian Owned Companies: $27,076
Analysis Examined Income, Expenses and Age of Business
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