What percentage of small businesses are black owned?

Blacks or African Americans owned approximately 124,551 businesses, with about 28.5% (35,547) of these businesses in the Health Care and Social Assistance sector, the highest percentage of any minority group.

What percent of small businesses are minority owned?

Overall, minority-owned firms made up 15 percent of the nation’s businesses and generated 3 percent of all receipts. Minority-owned businesses are those owned by African Americans, Hispanics, Asians and Pacific Islanders, or American Indians and Alaska Natives.

How many small business are black-owned?

There are more than 2 million Black-owned businesses in the United States. According to the most recent available Census data, there are more than two million Black-owned businesses in America.

How many minorities own small businesses?

According to the Census Bureau’s latest Annual Survey of Entrepreneurs (2016), there are 1,054,575 minority-owned businesses with employees in the United States.

What percentage of black-owned businesses are sole proprietors?

According to our analysis, roughly 96% of Black-owned businesses are sole proprietorships (unincorporated businesses owned and operated by one individual) compared to 79.9% of non-Black-owned businesses.

Which state has the most black-owned businesses?

Maryland tops our list of the best states for Black-owned businesses. The state is home to a whopping 6,570 Black-owned businesses, which employ 64,023 workers.

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How many black-owned businesses are there in Canada?

Even though 1.2 million Canadians identify as Black, representing 3.5% of the population, a Black in Canada survey found only 2,000 Black-owned businesses of significant scale. (The problem goes beyond our borders. In 2018, a U.S. study found just 1% of venture-backed founders were Black.)

Is Johnson & Johnson Black-Owned?

with $250 in 1954, bringing those hair care products to a previously unserved African American market. By 1971, Johnson Products Co. became the first Black-owned company to be listed on the American Stock Exchange.

What is the biggest black-owned business?

RLJ Lodging Trust, one of the largest publicly owned Black businesses, reported total assets of $5,92 billion in June 2020.

What city has the most black-owned businesses?

Memphis has the highest number of Black-owned businesses in the United States at just over 43%.

What is the black population in the United States?

A large portion of black-owned businesses are in service industries like retail, health care, and restaurants—sectors hit hard by shutdowns. According to Fairlie, the “industry distribution of black [business owners] was partly responsible, placing black business owners at greater risk of losses due to the pandemic.”

What is Black Business Month?

August is National Black Business Month, a designated time to celebrate and support Black-owned businesses nationwide.