Hattiesburg, Mississippi is a vibrant city with a rich history and a thriving business community. Located in the southern part of the state, Hattiesburg is known for its diverse population and strong economy. As an expert in the field of business demographics, I have studied the makeup of business owners in Hattiesburg and have some interesting insights to share.
The Business Landscape in Hattiesburg
Before we dive into the demographic makeup of business owners in Hattiesburg, let's take a look at the overall business landscape in the city. According to the latest data from the U.S. Census Bureau, there are over 5,000 businesses in Hattiesburg, MS. These businesses span a wide range of industries including healthcare, education, retail, and manufacturing. Hattiesburg is also home to several major employers such as Forrest General Hospital, the University of Southern Mississippi, and Kohler Engines. These companies not only provide jobs for local residents but also contribute significantly to the city's economy.
The Demographic Makeup of Business Owners
Now let's take a closer look at the demographic makeup of business owners in Hattiesburg.According to data from the U. Census Bureau's Survey of Business Owners, there are over 1,500 business owners in Hattiesburg. This includes both self-employed individuals and those who own businesses with paid employees. One interesting trend that emerged from this data is the gender breakdown of business owners in Hattiesburg. While nationally, male-owned businesses make up the majority at 57%, in Hattiesburg it is almost an even split with 51% of businesses being owned by men and 49% by women.
This is a reflection of the city's commitment to diversity and inclusivity. Another notable demographic trend is the age of business owners in Hattiesburg. The majority of business owners fall into the 45-54 age range, followed closely by those in the 55-64 age range. This indicates that many business owners in Hattiesburg are experienced professionals who have been in their respective industries for a significant amount of time.
Race and Ethnicity of Business Owners
When it comes to race and ethnicity, the majority of business owners in Hattiesburg are White at 68%. This is followed by Black or African American at 26%, Hispanic or Latino at 3%, and Asian at 2%.While these numbers may seem low for minority-owned businesses, it is important to note that Hattiesburg has a higher percentage of minority-owned businesses compared to the national average. One factor that may contribute to this is the city's strong support for minority-owned businesses. The Hattiesburg Area Development Partnership offers resources and support for minority entrepreneurs, helping them start and grow their businesses in the city.
Education and Income Levels
Education and income levels also play a role in the demographic makeup of business owners in Hattiesburg. Census Bureau, over 60% of business owners in the city have a bachelor's degree or higher. This is significantly higher than the national average of 40%.This indicates that many business owners in Hattiesburg have a strong educational background, which can be beneficial for running a successful business. In terms of income levels, the majority of business owners fall into the $50,000-$99,999 income bracket. This is followed by the $100,000-$149,999 bracket. This indicates that many business owners in Hattiesburg are financially stable and have the means to invest in their businesses.
The Impact of Demographics on Businesses in Hattiesburg
So, what does all of this mean for businesses in Hattiesburg? The demographic makeup of business owners in the city reflects a diverse and inclusive community that values education and entrepreneurship. This creates a supportive environment for businesses to thrive and grow. Additionally, the city's commitment to supporting minority-owned businesses and providing resources for entrepreneurs can lead to a more diverse and vibrant business community.This can also attract new businesses and investors to the city, further boosting its economy.
