Data scoop: Largest minority-owned business directory includes more ownership data
This year’s Minority-Owned Business Directory includes more businesses – and more details about their owners.
The comprehensive Excel directory includes 173 northeast Ohio-based businesses and organizations, up from 133 last year. For almost all businesses, we’ve also added the names of majority owners and listed all organizations that certify them as minority-owned.
So, we thought it was time to break down who owns what in the directory, but first, a bit of housekeeping: the full directory, which includes even the smallest businesses, will be published in the listings book at the end of 2022, but Crain data members can get the Excel version now. The directory’s 25 largest employers also feature in a ranked list in this week’s print edition.
Now, here are some ownership statistics covering the 165 private sector companies in the directory (which also includes eight nonprofits focused on minority issues).
- Of these 165 businesses, 117, or 70.9 percent, are black-owned. They employ a little more than half of the 3,334 local employees working for the companies in the directory.
- Thirty-one companies, 18.8%, are listed as Hispanic/Latino-owned, but they represent 37.4% of all directory employees, a disproportionate share. Granted, that’s partly because those 31 companies include Janitorial Services Inc. of Cuyahoga Heights. It ranks first on the list, but most of its employees are part-timers.
- The average company is 95.5% minority owned. Only nine are listed as belonging to a 51% minority – the minimum threshold to appear in the directory. However, five of these nine companies are among the 25 largest employers in the directory.
- Businesses are not required to be certified as minority-owned to appear in the directory or on the printed ranking list. Yet 67% say they hold at least one certification – and some companies hold several. Most come from the State of Ohio, the City of Cleveland, and other government entities, but several come from organizations such as the National Minority Supplier Development Council.
- The majority owner is listed as the company’s only senior executive for 35 of the directory’s top 50 employers. As for the other 15, seven list the majority owner as one of multiple senior executives.
The total number of Northeast Ohioans employed by directory companies increased by 2.9% if you include Janitorial Services Inc., which has an outsized impact given its size and the fact that it declares full-time equivalent employment (others on the list declare one-time employees only). Without JSI, employment fell by 1.3%.
Of course, the repertoire is by no means complete. Visit bit.ly/fears-minority-owned to submit your business if you haven’t already.