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Biz2Credit's Asian-Owned Business Study-Infographic

Biz2Credit OCTOBER 2014 BIZ2CREDIT'S ASIAN-OWNED BUSINESS STUDY Analysis Examined Average Annual Revenue, Credit Scores and Operating Expenses THE AVERAGE AGE OF BUSINESS 2$ Asian-Owned Businesses: 33 Months Other Businesses: 25 Months The average age of Asian-owned businesses was 33 months, compared to just 25 months for businesses owned by all other ethnicities. THE AVERAGE ANNUAL REVENUE Asian-Owned Businesses: $271,983.00 Non-Asian Owned Companies: $82,866.00 The average annual revenue for Asian-owned businesses was $271,983, compared to $82,866 for non-Asian owned companies. THE AVERAGE CREDIT SCORE Asian-Owned Companies: 658 Credit Score All Other Groups: 622 Credit Score As a result of the positive revenue performance, Asian-owned companies averaged a 658 credit score, compared to 622 for all other groups. THE AVERAGE OPERATING EXPENSES Asian-Owned Businesses: $110,579 Non-Asian Owned Companies: $27,076 The average operating expenses for Asian-owned firms was $110,579, compared to $27,076 for all other groups. CALIFORNIA HAS THE HIGHEST NUMBER OF ASIAN-OWNED COMPANIES: 284 (15.32%), FOLLOWED BY NEW YORK: 238 (12.84%); TEXAS: 157 (8.47%), NEW JERSEY: 156 (8.41%), AND FLORIDA: 137 (7.39%). New York Asian-owned companies: 238 (12.84%) New Jersey 4 Asian-owned companies: 156 (8.41%) Florida Asian-owned companies: California 1 137 (7.39%) Highest in Asian-owned companies 284(15.32%) Texas Asian-owned companies: 157 (8.47%) "We are seeing tremendous growth in the number of businesses owned by Asian Americans," said Biz2Credit CEO Rohit Arora, one of the nation's leading experts in small business finance. "On the East Coast and in Silicon Valley, many of them are in the booming IT sector." "Interestingly, in the Midwest, immigrants from South Asia are opening or expanding gas station-convenience stores at unprecedented rates. They are also purchasing existing businesses from retiring Baby Boomers," Arora added. "The demographics of this country are changing substantially - even in areas that are not traditionally known for their diversity." About Biz2credit - Asian Small Business Credit Study Biz2Credit analyzed the financial performance of more than 1,000 Asian-owned businesses with less than 250 employees and less than $10 million in annual revenues from across the country that have been in operation for more than 1 year, as well as startups. %24

Biz2Credit's Asian-Owned Business Study-Infographic

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Asian-owned companies comprised nearly 10 percent of the completed small business loan applications on Biz2Credit.com for the period beginning Jan. 1, 2013, until Sept. 30, 2014.

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