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Article: Minority-Owned Cos. Saw 6% Drop in Sales
- Article from:
- Orange County Business Journal
- Article date:
- July 27, 2009
- Author:
CopyrightCopyright CBJ, L. P. Jul 27-Aug 2, 2009. Provided by ProQuest LLC. (Hide copyright information)
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ECONOMY: Recession stalls double-digit growth of past years
The county's 50 largest minority-owned businesses saw a modest pullback in sales last year.
For 2008, sales from the group were nearly $9 billion, down about 6% from the previous year as the economy began to weaken, according to this week's Business Journal list.
This is a sharp change from 2008's list when the group posted an overall 29% jump to $9.6 billion in 2007 sales as they benefited from a stronger economy. For 2006 they grew 15%.
The declining economy didn't hit all of the companies on the list as 15 posted gains. Thirteen companies saw declines and 22 were Business Journal estimates.
The local workforce from the group ...