Which state has the most Black entrepreneurs?
Maryland
The Free State ranks 1st nationally for the most Black-owned businesses per 1 million people (1,213), and also ranks 1st in percent of the workforce employed by Black-owned businesses (3.49%).
Fayetteville, N.C., has the highest percentage of Black-owned businesses in the U.S., according to a new LendingTree study for Black History Month. Other metros in the South — including Washington, D.C. — join Fayetteville at the top of the list.
In 2018, there were about 3,115,000 nonemployer businesses with Black owners, up 5.6% from 2,951,000 in 2017, according to the Census Bureau's 2018 Nonemployer Statistics by Demographics (NES-D).
In 2019, there were a total of 5,771,292 employer firms (businesses with more than one employee), of which only 2.3% (134,567) were Black-owned, even though Black people comprise 14.2% of the country's population.
Atlanta-Sandy Springs-Roswell, GA
Atlanta-Sandy Springs-Roswell, Georgia ranks in the top 10 metro areas for six individual study metrics. The metro area has the third-highest number of Black-owned businesses (7,539) and percentage of Black-owned businesses (6.67%).
Global tech consulting firm World Wide Technology is the largest Black-owned business, posting revenues of more than $2 billion in 2016.
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10 Cities Where Black Americans Are More Successful
- Virgina Beach. ...
- Grand Prairie, Texas (tie) ...
- Aurora, Illinois. ...
- Pembroke Pines, Florida. ...
- Miramar, Florida. ...
- Charlotte, North Carolina.
Texas has the second most small businesses owned by Black, Indigenous and people of color in the nation, according to a new report based on Small Business Administration data. Texas has approximately 1.1 million BIPOC-owned businesses, which make up 39.3% of all the small businesses in the state.
There were an estimated 134,567 Black- or African American-owned businesses with $133.7 billion in annual receipts, 1.3 million employees and about $40.5 billion in annual payroll.
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Business Owner Race.
| Business Owner Race | Percentages |
|---|---|
| White | 70.8% |
| Hispanic or Latino | 14.4% |
| Asian | 6.2% |
| Black or African American | 6.0% |
How many Black-owned businesses are in North Carolina?
In North Carolina, from 1997 to 2018 the number of minority-owned businesses nearly tripled from 61,551 to 183,333. Similarly, across the nation the 2015 Census data showed that Black-owned businesses increased 34.5 percent from 1.9 million in 2007 to 2.6 million in 2012.
Founded by John T. Ward and his son William S. Ward, E.E. Ward Moving & Storage Co. is reportedly the oldest African-American-owned business in the United States.
Even before the pandemic, eight out of every 10 Black businesses failed within the first 18 months. U.S. Census data show 58% of Black business owners describe the health of their businesses as “at risk” or “distressed.”
Coca-Cola Florida, one of the largest Black-owned businesses in the U.S. and the largest in Florida, has been selected as a 2022 U.S. Best Managed Company. Founded in 2015, Coca-Cola Florida is the third-largest privately held and sixth-largest minority-owned business in the state.
When Black-Owned Businesses are in high demand, the companies become more profitable. Supporting these businesses contributes to creating entrepreneurial opportunities. Entrepreneurship fuels economic prosperity and serves as a bridge for low-income families to move up to middle-class status.
Metro Atlanta hosts 300,000 Black business owners, and that number is only growing during the pandemic.
A look at the most recently available government statistics reveals that these are the top 10 cities in terms of most minority-owned businesses: New York City (539,000) Los Angeles (248,000) Houston (156,000)
- Global Automotive Alliance Corporation.
- Millennium Steel of Texas. ...
- Adams Communication & Engineering Technology. ...
- Baldwin Richardson Foods. ...
- Bird Electric. Revenues: $238 Million. ...
- Georgetown Metal Processing. Revenues: $235 Million. ...
- Devon Industrial Group. Revenues: $234 Million. ...
- Salamander Hotels & Resorts. Revenues: $220 Million. ...
That same year, Joan sold the company to the Ivax Co., which produced skin-care products aimed at Black consumers, although it was not Black owned. In March of 2009, Johnson Products Co. was purchased by an African American investment firm, which reestablished its position as a Black-owned company.
Walker (born Sarah Breedlove; December 23, 1867 – May 25, 1919) was an African American entrepreneur, philanthropist, and political and social activist.
Where is the richest black community in America?
There are other counties where the typical Black household earns more: The highest-income Black families in the nation actually live on the western edge of the D.C. metro area in Virginia's Loudoun County, which is also home to the highest incomes overall.
States with the Highest Black Population
Texas has the highest Black population in the United States of 3,936,669, about 14% of Texas's total population. Texas is the second-most diverse state in the U.S. Following Texas is Florida with 3,867,495 (18%), New York with 3,763,977 (19%), and Georgia with 3,549,349 (34%).
1. View park, Windsor Hills, California (The richest black community!)
According to the Chamber, there are more than 250,000 Black-owned businesses in Florida and they collectively employ 77,136 Floridians and represent an annual payroll of $2.63 billion.
Virginia landed the No. 1 spot as its pluses included “Black-run businesses employ 2.18% of the states' (2nd nationally), and there are 755 Black-owned employer businesses per 1 million people (3rd nationally). Black-owned firms average an annual payroll of $437,000.
Other notable big businesses include World Wide Technology, a global tech consulting firm; Salamander Resort & Spa, which is owned by Sheila C. Johnson, cofounder of BET; and ActOne Group, the largest privately held, woman- and minority-owned workforce management company in the United States.
More than 131,000 companies were analyzed in the study, most of which were owned by entrepreneurs who started just one company. On average, the entrepreneurs were 38 years old and had 13 years of education. 75% were men.
The majority of U.S. businesses are small, relatively new and owned by white Americans, according to new data published Thursday by the Census Bureau. The bureau estimates there were 5.4 million companies and businesses with paid employees at the end of 2014.
James says it's “defined 'Black-owned' as a business where at least a majority of the shareholder equity, partnership interest, member share or other ownership interest in the business or its holding companies are owned by Black people.
Black businesses matter
They fill gaps for Black consumers, providing goods and services that reflect everyday needs and interests. They hire Black workers. And they help keep dollars circulating within majority-BIPOC neighborhoods, rather than streaming out to enrich distant corporate owners.
Is Lowes Hardware Black Owned?
Ellison was born to parents who worked as sharecroppers. He grew up in a segregated community in the South. Now, he is one of four Black CEOs in the Fortune 500.
The 12.5 million white male business owners comprise about 41% of the 30.5 million total owners of small businesses in America.
Black-owned businesses (or Black businesses), also known as African-American businesses, originated in the days of slavery before 1865. Emancipation and civil rights permitted businessmen to operate inside the American legal structure starting in the Reconstruction Era (1863–77) and afterwards.
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| Robert L. Johnson | |
|---|---|
| Born | Robert Louis Johnson April 8, 1946 Hickory, Mississippi, U.S. |
Madam C. J. Walker (1867-1919) was “the first Black woman millionaire in America” and made her fortune thanks to her homemade line of hair care products for Black women.
This last one is a reminder that most black-owned businesses, like most businesses in general, aren't glamorous or well-known, but they can still be very successful.
Black‐owned firms have lower revenues and profits, hire fewer employees, and are more likely to close than white‐owned businesses (U.S. Census Bureau 1997). The relative lack of success of black‐owned businesses in the United States is a major concern among policy makers.
The racial inequality wealth gap and chronic under-funding left Black businesses unprepared for COVID-19. Coronavirus closures and social distancing had an enormous impact on local businesses that relied on face-to-face interactions—traditional mainstays for Black entrepreneurs.
- Go out of your way to shop at black owned businesses. ...
- Promote black owned businesses on social media. ...
- Set a set amount of money in your budget to support black owned restaurants and businesses. ...
- Write and post reviews of great black owned shops and businesses.
Coca-Cola Beverages Florida, LLC (co*ke Florida) is a family-owned independent Coca-Cola bottler. co*ke Florida's exclusive territory covers over 20 million consumers across 47 Florida counties, and includes the major metropolitan markets of Jacksonville, Miami, Orlando, and Tampa.
Does Coca-Cola support small business?
We're driving inclusive economic growth by investing in entrepreneurs and small businesses across our value chain, by providing training, skills development, and access to finance, equipment and mentors.
According to the Chamber, there are more than 250,000 Black-owned businesses in Florida and they collectively employ 77,136 Floridians and represent an annual payroll of $2.63 billion.
4. California
4, California supports 10,287 black-owned businesses. With the exception of Maryland, the state has the highest percentage of black managers with 36% than any other state in the country.
A look at the most recently available government statistics reveals that these are the top 10 cities in terms of most minority-owned businesses: New York City (539,000) Los Angeles (248,000) Houston (156,000)
There are 31.7 million small businesses in the U.S.
