Aug 10

Highlights from Characteristics of Business Owners Report

The Characteristics of Business Owners: 2007 is the only report in the U.S. Census Bureau’s 2007 Survey of Business Owners (SBO) publication series to provide data on selected economic and demographic characteristics of the owners of U.S. respondent firms. Data aggregates are presented by gender, ethnicity, race, and veteran status of business owners at the national level by 2007 North American Industry Classification System (NAICS).

PRIMARY FUNCTION OF OWNERS IN THEIR BUSINESS
46.9 percent of owners reported that the day-to-day management of their business was their primary function
39.8 percent of owners of respondent firms indicated that the financial control of their business was their primary function

AGE
In 2007, more than one-third (36.5 percent) of owners of respondent firms were 55 or older, with 24.1 percent between the ages of 55 and 64 and 12.5 percent over the age of 65. Approximately 29.6 percent of owners of respondent businesses were between the ages of 45 and 54; 21.2 percent were between the ages of 35 and 44; 10.5 percent were between the ages of 25 and 34, and 2.2 percent were younger than 25.

Source: U.S. Census Bureau

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