About 5.7% of Americans identify as Asian-American. How many US businesses do you think are Asian-owned?

Answer: 555,200 or 9.9% of all businesses in the United States

Questions:

• What Asian-owned businesses can you think of where you live? Does the percentage of businesses come out to around the 9.9% national figure?
• What are some potential difficulties that come to mind related to starting, operating, and growing a small business?
• What supports does your community offer to people who run small businesses? If you can't think of any, what kind of supports do you think your community should have?

Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.

Behind the numbers (US Census Bureau):

"As the U.S. population has become more diverse, so has ownership of the nation’s businesses.

There were more Hispanic-owned businesses overall and more minority-owned businesses in various sectors in 2020 than a decade earlier, according to the Census Bureau’s 2021 Annual Business Survey (ABS).

The diversity of business owners mirrors the changing profile of the nation’s population. The 2020 Census found that the population of nearly all race and ethnicity groups in the United States had grown since 2010 with the exception of the White alone population, which declined during the decade."

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Here are more AAPI Heritage Month resources on the NGPF Website!

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Looking for more resources focused on entrepreneurship? Check out NGPF's Entrepreneurship unit page with many resources to choose from. 

About the Author

Ryan Wood

Ryan is the Partnerships and Adoption Manager for Next Gen Personal Finance’s midwest region. He brings his experience as a former teacher, curriculum designer, and sales and marketing professional to state organizations and school districts in supporting the implementation of their personal financial education efforts. He graduated from the University of Wisconsin-Green Bay and earned his teaching credential from Saint Mary’s University in Winona, Minnesota. He proudly taught at two rural high schools in Wisconsin before transitioning to curriculum design at NGPF, and is now excited to be on the front lines in delivering the best possible financial education in the midwest. He and his wife have three beautiful daughters, each of which inspire him to share the impact of being sound financial stewards both at home and as lifelong learners.