The Sonoma County Economic Development Board has released a demographic report detailing the business and economic changes in ownership and operation in the county’s business sector.
According to the report, business ownership in Sonoma. Sonoma County’s population has grown steadily in the past few decades, with particularly significant growth in the Hispanic and Asian communities. This has led to an increasingly diverse population, which is reflected in the county’s business landscape.
In terms of business ownership, there has been a notable increase in the number of businesses owned by women and minorities in recent years. This trend is likely because of a combination of factors, including changing societal attitudes toward diversity and inclusion, increased access to resources and support for women and minority business owners, and the county’s diverse population
Female-owned businesses
• 42% of businesses in the County are either female-owned or equally female/male owned establishments.
• Growth of women-owned businesses has outpaced that of male-owned businesses since 2019.
BIPOC-owned businesses*
• Growth in the Hispanic and Asian communities is reflected in the increasingly diverse business landscape.
• BIPOC-owned firms skew younger, making up 33% of the total number of firms that have operated for less than 2 years.
Demographics
• Sonoma County has shed residents for 6 years, resulting in a 4% decline in population since 2016.
• Greater automation and a general push toward labor saving technologies will slow the pace of job additions even as producers grow their operations.
To read the full report, CLICK HERE
*The US Census refers to BIPOC (Black, Indigenous, and People of Color) owners as minority owners. The rest of this report refers to the official categories from the Census’ Annual Business Survey, although the EDB recognizes this term is not an accurate description of these communities.
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