Black Business Facts That Leave an Impact

According to the United States Census Bureau, there are more than 2 million businesses in the country that are owned by African Americans. More than 94% of these businesses are made up of sole proprietorships or partnerships which have no paid employees. Nearly 4 in 10 black-owned businesses (more than 700,000) in 2007 operated in the health care, social assistance; and other services such as repair, maintenance, personal and laundry services sectors. The total number of black owned businesses by industry is illustrated in the chart below (U.S. Census Bureau, 2007 Survey of Business Owners and blackdemographics.com).

 

Despite the increase in the number of black firms, Black owned businesses only make up 7% of all U.S. firms and less than a half percent of all U.S. business receipts. African American Adults (ages 10 and up) make up 10% of the adult population and are therefore underrepresented in the U.S. in terms of business ownership - especially when it comes to earnings. Our piece of the business pie is illustrated in the graph below (U.S. Census Bureau, 2007 Survey of Business Owners and blackdemographics.com).

Among states, New York had 204,032 black-owned businesses and accounted for 10.6 percent of the nation's black-owned businesses, followed by Georgia, with 183,874 black-owned businesses (9.6 percent) and Florida, with 181,437 (9.4 percent).

Among cities, New York had the most black-owned businesses, with 154,929 (8.1 percent of all the nation's black-owned businesses), followed by Chicago, with 58,631 (3.1 percent), Houston, with 33,062 (1.7 percent) and Detroit, with 32,490 (1.7 percent).

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