The owner’s race has also been a meaningful demographic
characteristic, as research has shown significant
racial disparities regarding business ownership. Fairlie and
Robb (2008, 1) reported that only “5.1 percent of African
American workers and 7.5 percent of Hispanic workers
own businesses, compared to more than 11 percent of
Caucasian and Asian workers.” However, those researchers’
big concern is that African American– and Hispanic-owned
businesses have lower sales, lower profits, and higher failure
rates compared with businesses owned by Caucasian
and Asian American owners.