Business Ownership in Philadelphia and Other Major U.S. Cities
Business ownership, like homeownership, is a major driver of economic mobility and wealth for many individuals and families, but it varies considerably by race, ethnicity, and sex. Federal data sheds new light on how, in recent years, business ownership has risen sharply throughout the country but at uneven rates for Black, Hispanic, Asian, White, female, and male entrepreneurs in different cities and counties, reflecting varying local economic environments.
Business ownership, like homeownership, is a major driver of economic mobility and wealth for many individuals and families, but it varies considerably by race, ethnicity, and sex. Federal data sheds new light on how, in recent years, business ownership has risen sharply throughout the country but at uneven rates for Black, Hispanic, Asian, White, female, and male entrepreneurs in different cities and counties, reflecting varying local economic environments.
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