Survey of Business Owners - Filipino-Owned Firms: 2002
SUMMARY OF FINDINGS
In 2002, there were over
125,000 Filipino-owned firms in the U.S., employing nearly 132,000 workers,
and generating nearly $14.2 billion in revenue. These Filipino-owned firms
accounted for 0.5 percent of all nonfarm businesses in the U.S., 0.1 percent
of their employment, and 0.1 percent of their receipts.
The number of Filipino-owned
businesses grew 48 percent between 1997 and 2002, and the revenues grew 28 percent.
The 2002 Survey of Business
Owners (SBO) defines Filipino-owned businesses as firms in which Filipinos own
51 percent or more of the stock or equity of the business. The data in
this report were collected as part of the 2002 Economic Census from a large
sample of all nonfarm businesses filing 2002 tax forms as individual proprietorships,
partnerships, or any type of corporation, and with receipts of $1,000 or more.
KIND-OF-BUSINESS CHARACTERISTICS
In 2002, 38.6 percent of
Filipino-owned firms operated in health care and social assistance; and professional,
scientific, and technical services, where they owned 0.9 percent of all such businesses
in the U.S.
Health care and social
assistance accounted for 39.3 percent of all Filipino-owned business revenue.
GEOGRAPHIC CHARACTERISTICS
California had the most
Filipino-owned firms with 58,767 firms or 47 percent, with receipts of $6.7
billion or 47.6 percent. Hawaii was second with 9,086 firms or 7.3 percent,
with receipts of $639 million or 4.5 percent. Table
A shows the seven states with the largest number of Filipino-owned firms
and corresponding business revenues.
Table B shows
the six combined statistical areas with the largest number of Filipino-owned
firms and their corresponding business revenues.
DATA COMPARABILITY TO PRIOR SURVEYS
Table C provides
a comparison of the 2002 and 1997 published data for Filipino-owned firms and
all U.S. firms. The table shows that when compared to all U.S. businesses, excluding
publicly held corporations and firms for which race ownership is indeterminate,
Filipino-owned firms accounted for 0.6 percent of firms, 0.2 percent of employees
and 0.2 percent of receipts.
The kind-of-business data for 2002 for Filipino-owned firms are not comparable
to 1997 due to the transition from the 1987 Standard Industrial Classification
(SIC) system to the 2002 North American Industry Classification System (NAICS).
Additional changes affecting data comparability are discussed in detail in Methodology,
in the section titled "Comparability of the 2002 and 1997 SBO Data."
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