Florida, Miami rank high for minority-owned businesses

MIAMI (AP) – A new report has found that Miami and Florida have some of the highest number of minority-owned businesses in the nation.

The Miami Herald reports the U.S. Department of Commerce released the statistics on the U.S. Census Bureau’s 2012 Survey of Business Owners Tuesday.

According to the survey, Miami had the second-highest proportion of Hispanic-owned businesses in the country with 69.2 percent. Florida, meanwhile, had the third-highest number for minority-owned businesses.

The results also found that minority-owned firms nationwide have increased from 5.8 million in 2007 to 8.0 million in 2012. The percentage of minority-owned businesses in the United States increased from 22 percent to 29 percent in that same timespan.