Washington minority business owners are optimistic; UW survey points to growth

For the first time, the survey includes responses from Caucasian-owned businesses to compare more accurately differences in small-business priorities. The survey results demonstrate the need to examine minority-owned small businesses as a unique sector, according to the survey’s authors.

For example, while Caucasian small-business owners were most concerned about taxes, inflation and government red tape, minority small-business owners cited financing gaps and competition from big businesses as their biggest challenges. Minority small business owners voiced guarded optimism around growth despite the perennial challenge of perennial challenge of securing capital investment.