April 2005

We were pleased with the response we received from minority business owners who participated in our Quarterly Business Survey in April 2005. The results from this survey indicate a very positive outlook from small business owners and we are happy to share the results with you below. As we gather information each quarter, we are beginning to see trends in the small business owner's outlook for the near future. Below we've summarized the results and provided a comparison from the surveys conducted in January 2005 and April 2005.

Results Summary
Actual Results and Comparison to Previous Business Quarter Results
2004 Quarter IV Results

Results Summary

• The mix of business industries represented by the respondents is weighted with the largest industry representing being service (64%) followed by manufacturing (14%), and media/entertainment, software and retail equal in representation (7%).  
• Fifty-six percent (50%) of those responding have been in business for over 10 years; 29% have been in business from 6 to 10 years; and 21% have been in business from 1 to 5 years.
• Most (50%) of the respondents employ between 11 and 25 employees. 
• Most (86%) of those responding indicated an expectation to hire new employees in the next 12 months.  Minority business owners have expressed the expectation to hire new employees for the past two business quarters.
• The largest percentage (50%) of respondents own a business $1 million to $5 million in size; followed by 36% of respondents owning a business less than $1 million in size; and 14% own a business over $5 million in size. 
• Regarding the economic outlook 12 months out, most (79%) of respondents indicated an improved economy while 21% indicated an economy with no change. 
• All respondents are doing the same or better this business quarter. For two business quarters now, respondents have indicated their businesses doing the same or better.

Results

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