Survey of Business Owners - Vietnamese-Owned Firms: 2002
SUMMARY OF FINDINGS
In 2002, there were over
147,000 Vietnamese-owned firms in the U.S., employing nearly 125,900 workers,
and generating almost $16 billion in revenue. These Vietnamese-owned firms accounted
for 0.6 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 Vietnamese-owned
businesses grew 50 percent between 1997 and 2002, and the revenues grew 66 percent.
The 2002 Survey of Business
Owners (SBO) defines Vietnamese-owned businesses as firms in which Vietnamese
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, slightly more
than half of Vietnamese-owned firms operated in other services, such as personal
services, and repair and maintenance. They owned 2.7 percent of all such businesses
in the U.S.
Retail trade and other
services, such as personal services, and repair and maintenance accounted for
41.8 percent of all Vietnamese-owned business revenue. Table
A shows the industries accounting for the largest receipts for Vietnamese-owned
firms.
GEOGRAPHIC CHARACTERISTICS
California had the most
Vietnamese-owned firms with 50,321 firms or 34.2 percent, with receipts of $6.4
billion or 42 percent. Texas was second with 24,263 firms or 16.5 percent, with
receipts of $2.2 billion or 14.2 percent. Table
B shows the states with the largest number of Vietnamese-owned firms and
corresponding business revenues.
Table C
shows the combined statistical areas with the largest number of Vietnamese-owned
firms and their corresponding business revenues.
DATA COMPARABILITY TO PRIOR SURVEYS
Table D
provides a comparison of the 2002 and 1997 published data for Vietnamese-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,
Vietnamese-owned firms accounted for 0.7 percent of firms, 0.2 percent of employees
and 0.2 percent of receipts.
The kind-of-business data for 2002 for Vietnamese-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."
[Excel] or the letters [xls] indicate a document is in the Microsoft® Excel® Spreadsheet Format
(XLS). To view the file, you will need the
Microsoft®
Excel® Viewer
available for free from Microsoft®.
This symbol
indicates a link to a non-government web site. Our linking to these sites does not
constitute an endorsement of any products, services or the information found on them.
Once you link to another site you are subject to the policies of the new site.