The Importance of the Asian Pacific Market

Business ownership by Asian Pacific Americans has grown twice as fast as the national average, jumping 56% nationwide from 1987 to 1992 and receipts soared 163%. Continued Asian American population growth, an entrepreneurial tradition among Asians, a high level of education and training in booming fields such as electronics, engineering and science, help account for the growth and economic health of Asian American-owned firms. Average receipts for Asian American businesses totaled 165,000 dollars compared with 193,000 dollars for all U.S. enterprises.

While Asian Pacific Americans account for only 3.1% of the population in 1992, it owned 3.5% of all U.S. businesses. Overall, more than 143,000 businesses owned by Asian Pacific Americans accounted for 30.1 billion dollars in gross sales.