Austin, TX (PRWEB) March 23, 2016
The Greater Austin Asian Chamber of Commerce (GAACC) today released its report on Asian American businesses in Central Texas, Asian American Businesses Exploding in Diversity and Numbers. The report is an analysis of recently published data separated by race from the 2012 Survey of Business Owners for the Austin Round Rock Metropolitan Statistical Area.
In 2012, there were 10,553 Asian American owned businesses which produced $3.6 billion in total revenue. Of these businesses, 26.5 percent had employees numbering 21,915 people. From 2007 to 2012, the number of Asian American owned businesses increased from 7,314 to 10,553 a blistering growth rate of 44 percent. This compares to 16 percent rise for all private businesses in the same period.
At this rate, GAACC estimates that there are about 13,000 Asian American owned businesses in Central Texas and this number is expected to grow to 22,000 in 2022. In addition, the report includes information on Chinese, Filipino, Indian, Japanese, Korean and Vietnamese owned businesses and there are marked differences in both revenues and growth rates among these groups.
“We are excited to share this report which confirms our expectations about the growth of our main constituency,” said Marina Bhargava, GAACC’s Executive Director. “More importantly, the disaggregated data provides a better understanding of where the needs are among Asian American business owners, enabling us to better target our outreach and resources.”
A copy of the entire report is available by contacting GAACC.
GAACC is a non-profit membership organization dedicated to advocating for, connecting to, and educating the Central Texas Asian American business community http://www.AustinAsianChamber.org