BUSINESS FINANCE comm dom e. Itch out for e: ving only 0 f mily member Involved in n nei m ne . ven tbough o po m ybe po lble for decl ion in , both p rtne bould be Involved in meetin fth ccount nla, ba ers, in­ surance age ,toe bro era and la era. Another common error' f U­ In to put your goal down on paper. When it com to financial go I ,it' tmportant that you pI ce a doll r mount and a time frame n e ch objective. For example, if you pl n to buy a ho e, you need to kno when you plan to buy and bo much of a down payment you will need. Also, once you have financial goals on paper you must weigh their relative importance. PLAN ING P ide � matter of f ct, no d time to co ult ith your ta prep rer concern! your 1992 CI. o that you have completed your 1991 tax return, co ult th your accountant to develop ays to reduce your bill for 1992. It might me n convertin your bobby to • b in In order to take dvantage of b deductio or contributing to the company' profit baring plan. It hard to become financially secure without a too ledge 0 the tax la KNOW YOUR BENEFITS Not understanding your employee benefi i one money management error you don't ant INVES ENTS When it comes to managing their money a common mi take people make i not diversifying Charles Ros is the host of the 1IQtioMlly syndicated radio pro­ gram "Your Perso1UJl F�." and tJIlthor 01 the The But of Your PersoMl Fituuace. HE IS AN Ulban leader woo kmws Amerlca' fiee.emerpriae poa:MulblBsmwn1beway B ., aauaIly beco� in­ \dwd in It • bmof ulliYq. He am b Nation ofY�h aS100million pordblloofteal man ICMce ao1 tqjIir firms am em- . .MN�l�ma���_ and coIIedtYe, CO)!. mica. (8 wm vi.uUzed ami ple � way 1e say bit the JeaQl Yahweh is behiOO ball Is becue «his suaas in urbIn�. Be1hetMitmay weB be, Bum lnlId take a page from PIesident Gerald R>rd's book onpi� pardoos todfect his agadl fix chqe. Bmh ml Atto�y General WIlliam BarrsOOuld koow that the wub of Y�h Ben Yahweh baYe � chronided all across Black America. Black Republicam worth anything to REED, A10 • arac o r Thirty percent of America's sur­ veyed businesse are owned by women, says a Census Bureau report released today by the Com­ merce Department. The report also shows that Blacks; Hispanics; and Asian Americans, American Indians, and other minorities each own about 3 . percent of the nation's surveyed businesses, while white men own approximately 64 percent. . Valerie Strang, author of the report, says, "Understanding the characteristics of this country's business owners--such as their age, education, and general work ex­ perience-ds important to policy­ makers when they're trying to establish programs to encourage economic development. � . "For instance, knowing that the majority of business owners started their busine se with little or. no money or assets is important when communities are trying to decide how to allocate their economic development funds." Highlights of the report, based on a survey during the 1987 economic censuses, include: - Nearly 51 percent of the nation's busines owners are be­ tween 35 and 54 years old. I - Over 74 percent of owners are married. White male business owners were most likely to be mar­ ried (SO percent) followed by Asians, American Indians, and other minorities (77 percent); Hispanic owners (76 percent); women owners of all races (70 per­ cent); and Black owners (69 per­ cent) .. Blab scbool was the blgbest level of education completed for about 24 percent of owners; and another 19 percent have ome col­ lege, but did not graduate. This varies by gender and racial group. For instance, a high school diploma is the highest degree at­ tained by nearly 30 percent of women owners, but this is the highest degree attained for only about 16 percent of Asian, American Indian, and other minority owners. . The hlghe t concentration of bachelor's degree wa among Asian, American Indian, and other minority ownera (27 percent); Hispanic owners have the lowest percentage of bachelor's degrees (11 percent). . , Forty-tbree percent of omen owners are not the head winners in their familie . They are less than 10 percent of their household income from their business, compared with 40 percent of Black owners, 32 per­ cent of Hispanic owners, 31 percent of Asian, AmerIcan Indian, and other minority owners, and 31 per­ cent of white-male owners . ic r ·0 - Hispanic owners (11 per­ cent) and while-male owners (ll percent) were most likely to earn 100 percent of their household in­ come from their business, com­ pared with 18 percent for Asian, American Indian, and other minority owners, 14 percent for Black owners, and 12 percent for women owners. Flfty-ftve percent of women-Gwned businesse operate from a private residence compared with 50 percent of white male­ owned business, 49 percent of Black-owned businesses, 45 per­ cent of Hispanic-owned businesses, and 39 percent of Asian, American Indian, and other minority-owned businesses. Minority ftrms blre minority employees: 54 percent of minority-owned firms with employees said more than half of their workforce were minorities; 47 percent claimed as higrras 75 to 100 percent minority employees. - Boslnes owned by women and white men are spread aero all states in about the same proportion as the population. However, more than half of all minority-owned businesses are located in California, Texas, New York, and Florida. Flfty.ftve percent of women-owned firms and 46 percent of minority-owned business, health, and legal services. Businesses included in this sur­ vey include individual proprietor­ ship, partnerships, and subchapter S corporations. A subchapter S cor­ poration is a special IRS de igna­ tion for legally incorporated businesses with 35 or fewer shareholders who, because of tax advantages, elect to be taxed as in­ dividual shareholders rather than as corporations. The report also provides infor- , mation on business owners' veteran status, U.S. birth, work experience, method of acquiring busine , hours worked, tarting capital, and source of borrowed and equity capital. Copies 01 the report 1987 Char .. acteristics 01 Business Owners, No. . CB087-1, are available for $12.00 each prepaid from the Superinten­ dent 01 Documents, U.S. Govern- . men! Printing Office, Washington; c D.C. 20402 (202-783-3238). The GPO stock number is 003-024- 08158-0. ADVERTISE YOUR BUSINESS in c r o Business Owners By Age: 1987 •••••••• 60.8. BlaCk-Owned Businesses Other Hi nori ty­ Owned Businesses·· Women-Owned , Bus 1 nes ses White Male­ Owned Businesses o 10 20 30 . 40 Percent of Owners SOURCE: U.S, Bureau of the Census NOTE: lota 1 under' 1001 because of non-response. * Hispanics may be of any race. UOther Minority includes Asian Americ ns , Pacific Islanders, American Indians, an.1 Alaska Natives. 50 60 70 r: � :1 Under 35 35-54 (.. .' 55 &. 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