South Florida has 2nd highest rate of minority businesses

ORLANDO, Fla. (AP) — South Florida has one of the highest rates of minority-owned businesses in the nation.

New figures released Thursday by the U.S. Census Bureau show that more than a third of businesses in South Florida have owners who are either nonwhite or Hispanic.

That was the second-highest rate among the nation’s 50 largest metro areas in 2014, the most recent year figures are available.

Only the San Jose, California metro area — home to Silicon Valley — had a higher rate at just under 40 percent.

Statewide, just under a quarter of businesses in Florida are minority-owned, giving the Sunshine State the third-highest rate in the nation.

Only Hawaii and California had greater percentages of minority-owned businesses.

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