According to the U.S Census, the minority population in the United States increased from 32.9 percent in 2007 to 37.9 percent in 2014 with four states—Hawaii, California, New Mexico and Texas—and also Washington D.C.—“majority-minority.”
As you can well imagine, with the rising minority population, the number of minority-owned businesses has also risen. In fact, according to the Minority Business Development Agency, from 2007 to 2012 minority-owned businesses increased a whopping 39 percent—from 5.8 million to 8 million.