The revenue of Black businesses in the Gazelle Index national survey is $1.7 million. The businesses employed 21 workers on average. These firms are high performers and they have a unique quality in common- they plan and they set high growth targets.
Blacks and Latinos own 7.1% and 8.3% of all small businesses but make up 15.3% and 10.8% respectively of federally registered contractors. Government contracts provide advantages for minorities, but they often hit a brick wall when it comes to scaling up.
In 2011, Hispanic/Latino small businesses earned $5.8 million in annual revenue and had 22 workers. The largest Industry was construction, where revenue was $14.7 Million: based on the Gazelle Index national survey of small businesses.
Overall 12.3% more small businesses will be hiring than will be cutting jobs during the first quarter. The largest job gains will occur in information technology, management and administrative services, health and education, and wholesale. .
The Gazelle Index is a new national quarterly survey of the outlook, current conditions, optimism and future hiring plans of minority, women and non-minority small firms. It published because here is no up-to-date survey of these groups.
The Gazelle Index Survey indicated that 26.6% of small businesses iwould hire during the first three months of 2012 while only14.4% of small businesses indicated they would reduce hiring. The survey results are consistent with national economic data.
The economy and President Obama’s positive approval ratings are improving. Auto sales and retail sales are up, new claims for unemployment compensation are down and Congress appears likely to pass the payroll tax cut extension.
Greece’s Parliament passed a tough austerity measure as a precondition for a bailout agreement. The stakes are high for US banks because five of the largest banks have billions invested in the Euro-zone countries that are most likely to default.
To understand how the economy is doing, most people look to the unemployment rate. However, other indicators may be even more important. It all depends upon where the economy is in the business cycle.
Higher interest rates make it easier for people to get home loans because lenders receive a greater reward for taking risks on home mortgages. Since the economy is growing, the Fed should stop its low rate policy.