While businesses owned by minorities make up a small share of all businesses in the United States, their numbers have been on the rise.

According to the SBA Office of Advocacy, the rate of minority busi­ness ownership in 2012 was 14.6%, compared with 11.5% in 2007.

Black business owners made up 49.9% of all minority owners in 2012, while Asians made up 29.6% The Hispanic share of all U.S. business owners was 10.3% that year, compared with 8.3% in 2007. This increase reflects the fast growth of the Hispanic labor force, spurred by overall population growth and increased immigration, the SBA said.

Meanwhile, women-owned businesses had virtually no change in market share between 2007 and 2012, the agency noted.  In 2012, 36.0% of business owners were women, similar to their 2007 share of 35.9%.

The SBA found that business owners tended to be older than non-business owners. In 2012, the age makeup of business owners was shifting toward the older age groups. Between 2007 and 2012, those 50 and over had an increase from 46% to 50.9%.

The proportion of owners age 35 to 49 decreased from 38.8% to 33.2%, according to the SBA.

“This may reflect the unprecedented withdrawal of prime age workers from the labor market – a cyclical condition which could reverse as the labor market recovery solidifies. The share of younger business owners is hold­ing steady,” the SBA said.

In 2012, 15.9% of busi­ness owners were under age 35, a slight increase from 15.2% in 2007.

Regarding business ownership, the SBA said entrepreneurs were more likely to have attended college, be homeowners, married and lived in metropolitan areas.