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December 06, 2022 | Tom Ballard

Kauffman Foundation tracks changes in mix of entrepreneurs over the past 25 years

There are more BIPOC entrepreneurs than ever before.

A recent report from the Kauffman Foundation looked at 25 years of data on entrepreneurship and drew these conclusions:

  • The share of women among new entrepreneurs has remained relatively consistent over time.
  • The share of new entrepreneurs who have represented historically underrepresented groups has increased. Those who are Hispanic or Latino more than doubled (10.0 percent to 24.2 percent), as did the share of new entrepreneurs who are Asian (from 3.4 percent to 7.3 percent). The share of new entrepreneurs who are Black or African American increased from 8.4 percent to 10.1 percent.
  • Conversely, the share of new entrepreneurs who were white declined from 77.1 percent to 54.5 percent.
  • There has been a notable shift toward more older new entrepreneurs. In 1996, 14.8 percent of entrepreneurs were 55-64 years old compared to 22.8 percent in 2021. At the same time, there has been a decrease in the share of younger new entrepreneurs. In 1996, 34.3 percent of entrepreneurs were 20-34 years old compared to 26.2 percent in 2021.
  • New entrepreneurs who are foreign-born have more than doubled.