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By 2050, nearly half -- 47.2 percent -- of the country's population will be minorities. (Source: U.S. Census Bureau). And as a result, minority business enterprises are a rapidly growing segment of

By Joan E. Collier, Joan E. Collier | Updated on October 31, 2006

By 2050, nearly half — 47.2 percent — of the country’s population will be minorities. (Source: U.S. Census Bureau). And as a result, minority business enterprises are a rapidly growing segment of the U.S. and global economy. For example, between 1997-2002, the total number of U.S. companies increased by two million, and over 50 percent of this increase was accounted for by minority-owned firms. (Source: U.S. Department of Commerce, Minority Business Development Agency)

Census information shows that Latinos have increased their presence in the U.S. population by 58 percent over the last 10 years and now outnumber African-Americans as the dominant ethnic minority. (Source: U.S. Department of Commerce, Minority Business Development Agency). In the first decade of this century, 85 percent of new workers will be women, minorities and immigrants. (Source: Business Women’s Network and Diversity Best Practices and U.S. Department of Labor)

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