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player ready...Self-employment has increased swiftly among women, African-Americans and Latinos since 1979, according to a study by the U.S. Small Business Administration’s Office of Advocacy.
The number of people who work for themselves reached nearly 12.2 million in 2003, up from 7.7 million in 1979. The percent of the labor force that was self-employed increased from 9.3 percent to 9.8 percent during that period, the study found.
While men and non-Latino whites still comprise the majority of self-employed workers, other groups are growing at a faster pace.
The number of self-employed women jumped from 1.7 million, or 5.1 percent of working women, in 1979 to 3.8 million, or 6.8 percent, in 2003. African-Americans saw an increase of 297,000, or 3.8 percent, in 1979 to 710,000, or 5.2 percent, in 2003. Latino self-employment went from 241,000, or 6.1 percent, in 1979 to 1 million, or 7 percent, in 2003.
“This study provides definitive evidence for the growth trend we’ve seen in entrepreneurship over the years,” Robert Hughes, president of the National Association for the Self-Employed, said in a release.
“Particularly strong among women, blacks and Latinos, these numbers help to better quantify the appeal of self-employment and the impact this segment of the small-business population has on the economy.”
The study is available at www.sba.gov/advo.