Black-owned businesses represent over 10% of all U.S. employer firms. Their revenue grew by 34% in e-commerce after 2020, yet only 20% receive full funding needs.
Key Takeaways
- Black-owned businesses face 60% less access to bank loans than white-owned.
- In 2022, Black-owned businesses represented 10.2% of all employer businesses in the US, totaling approximately 161,000 firms.
- Black-owned businesses generated $183 billion in revenue in 2017.
- Black-owned businesses saw 34% revenue growth in e-commerce post-2020.
- SBA 8(a) program supports 5,000 Black-owned firms annually.
Black owned businesses are growing steadily, driving stronger local economies and job creation across the country.
Related reading
01 · Category
Challenges and Disparities26 stats
01
Black-owned businesses face 60% less access to bank loans than white-owned.
02
Only 20% of Black-owned businesses receive full funding needs vs 58% white-owned.
03
Black entrepreneurs denied loans at twice the rate of whites in 2022.
04
Average loan size for Black-owned firms is 30% smaller than white-owned.
05
45% of Black-owned businesses closed temporarily during COVID vs 30% overall.
06
Black firms receive 1% of venture capital despite 10% ownership rates.
07
Insurance denial rates 25% higher for Black-owned businesses.
08
Black-owned firms have 50% higher failure rate in first 5 years.
09
Only 15% of Black businesses access SBA loans vs 25% average.
10
Discrimination cited by 70% of Black entrepreneurs as barrier.
11
Black-owned retail faced 40% higher supply chain disruptions in 2021.
12
35% of Black firms lack health insurance for employees vs 20% white.
13
Black entrepreneurs average 2.5x less networking opportunities.
14
Regulatory compliance costs 20% higher for small Black firms.
15
Cyberattack rates 30% higher on minority-owned businesses including Black.
16
Black-owned firms in construction face 40% bid rejection disparity.
17
50% of Black businesses report inflation as top challenge in 2023.
18
Access to markets: Black firms 25% less likely to secure government contracts.
19
Talent shortage affects 60% of Black-owned businesses.
20
Black firms pay 15% higher interest on loans.
21
Energy costs burden 40% more for urban Black businesses.
22
Patent approval rates 10% lower for Black inventors/businesses.
23
Supply costs 18% higher due to limited supplier diversity.
24
65% of Black owners work 50+ hours/week vs 50% average.
25
Digital divide: 30% fewer Black firms have advanced tech tools.
26
Black-owned businesses received 40% less PPP funding per capita.
Interpretation
Challenges and Disparities Interpretation
The data paints a sobering portrait of a system rigged with invisible hurdles, where Black entrepreneurs are expected to sprint a marathon while systematically handed heavier weights and shorter shoelaces.
02 · Category
Demographics and Ownership30 stats
01
In 2022, Black-owned businesses represented 10.2% of all employer businesses in the US, totaling approximately 161,000 firms.
02
As of 2019, there were over 3.5 million Black-owned businesses in the US, including both employer and non-employer firms.
03
Black women own 47% of all Black-owned businesses, making them the largest demographic group among Black entrepreneurs.
04
In 2017, 56% of Black-owned businesses were in the health care and social assistance sector.
05
Georgia had the highest number of Black-owned businesses in 2019 with over 400,000 firms.
06
In New York, Black-owned businesses numbered 378,000 in 2017, accounting for 12% of the state's businesses.
07
89% of Black-owned businesses are non-employer firms, similar to other minority groups.
08
Black-owned businesses in professional, scientific, and technical services grew by 32% from 2012 to 2017.
09
In 2020, Millennials owned 42% of Black-owned businesses under 50 years old.
10
Texas hosts over 300,000 Black-owned businesses as of 2019 data.
11
Black-owned construction firms numbered 112,000 in 2017.
12
14% of Black-owned businesses are in retail trade, totaling around 400,000 firms in 2017.
13
Maryland has the highest concentration of Black-owned businesses at 16.8% of all businesses.
14
In 2022 ABS, Black-owned employer businesses employed 1.3 million people.
15
Florida's Black-owned businesses reached 295,000 in 2019.
16
Black veterans own 8% of Black-owned businesses.
17
California had 296,000 Black-owned businesses in 2017.
18
20% of Black-owned businesses are owned by individuals aged 55 and older.
19
North Carolina's Black-owned firms totaled 170,000 in 2019.
20
Black-owned administrative and support services firms numbered 300,000+ in 2017.
21
Illinois has 190,000 Black-owned businesses as per 2019 estimates.
22
42% of Black business owners have a bachelor's degree or higher.
23
Washington, D.C. has 25% of businesses Black-owned.
24
Michigan's Black-owned businesses: 140,000 in 2019.
25
Black-owned arts, entertainment, and recreation businesses: 70,000 in 2017.
26
Ohio: 130,000 Black-owned firms in 2019.
27
35% of Black-owned businesses are home-based.
28
Louisiana: highest Black ownership rate at 17% of businesses.
29
Black-owned accommodation and food services: 90,000 firms in 2017.
30
Virginia: 150,000 Black-owned businesses in 2019.
Interpretation
Demographics and Ownership Interpretation
While representing just over 10% of employer firms, the vast and vibrant ecosystem of Black-owned businesses—from healthcare hubs in Georgia to home-based hustles nationwide—showcases a formidable blend of resilience, demographic diversity, and a growing footprint across every sector of the American economy.
03 · Category
Economic Contributions25 stats
01
Black-owned businesses generated $183 billion in revenue in 2017.
02
In 2021, Black-owned employer firms had average receipts of $1.1 million.
03
Black-owned businesses employed 1.2 million people in 2019.
04
Total payroll for Black-owned employer businesses was $37.9 billion in 2017.
05
Black-owned firms contributed 2% to US GDP through business activity in 2020 estimates.
06
In health care, Black-owned businesses generated $24.5 billion in revenue in 2017.
07
Retail trade Black-owned firms had $37.7 billion in receipts in 2017.
08
Black-owned construction businesses receipts: $33.3 billion in 2017.
09
Administrative services Black-owned revenue: $45.1 billion in 2017.
10
Black-owned businesses in Georgia generated over $20 billion annually as of 2019.
11
Nationwide, Black-owned employer firms paid out $40 billion in payroll in 2022.
12
Food services and accommodations Black-owned revenue: $10.2 billion in 2017.
13
Professional services Black-owned firms revenue: $50+ billion in 2017.
14
Black businesses employ 10% of the US private workforce in certain sectors.
15
In 2020, Black-owned businesses added $150 billion to local economies.
16
Arts and recreation Black-owned revenue: $5.8 billion in 2017.
17
Black-owned firms in New York contributed $30 billion in revenue in 2019.
18
Transportation Black-owned revenue: $15.4 billion in 2017.
19
Black businesses generated 1.6 million jobs nationwide pre-COVID.
20
Wholesale trade Black-owned receipts: $8.2 billion in 2017.
21
Black-owned businesses in Texas: $25 billion revenue in 2019.
22
Manufacturing Black-owned revenue: $6.1 billion in 2017.
23
Black firms employ 3% of US total employment despite being 10% owners.
24
Real estate Black-owned revenue: $12.3 billion in 2017.
25
Other services Black-owned: $18.7 billion revenue in 2017.
Interpretation
Economic Contributions Interpretation
While these figures showcase an economic force that could make Wall Street blush—with tens of billions in revenue and millions of jobs nationwide—they also highlight the stark fact that Black-owned businesses, representing 10% of owners, still punch far below their weight in overall GDP and employment, underscoring both their vital impact and the vast untapped potential waiting to be unleashed.
More related reading
04 · Category
Growth and Performance26 stats
01
Black-owned businesses saw 34% revenue growth in e-commerce post-2020.
02
From 2017 to 2020, Black-owned employer businesses grew 13.1%.
03
Black business ownership rates increased 14% from 2019 to 2020.
04
Non-employer Black businesses grew 7.2% annually from 2012-2017.
05
Employer Black firms grew 3% from 2017 to 2020 despite pandemic.
06
Construction Black-owned firms grew 20% from 2012 to 2017.
07
Health care Black-owned businesses increased 25% over five years to 2017.
08
Professional services growth: 32% for Black-owned from 2012-2017.
09
Retail Black-owned firms grew 15% from 2012 to 2017.
10
Post-COVID, Black-owned businesses rebounded with 22% sales growth in 2021.
11
Black millennial entrepreneurs grew 55% from 2014 to 2019.
12
E-commerce Black-owned sales up 60% in 2020.
13
Georgia Black-owned growth: 20% from 2014-2019.
14
Black-owned tech startups tripled from 2015 to 2022.
15
Food and beverage Black-owned grew 18% post-2020.
16
Black women-owned businesses grew 50% from 2014-2019.
17
Administrative services Black growth: 28% 2012-2017.
18
Survival rate of Black-owned startups improved to 80% after 3 years in 2022.
19
Black-owned franchises grew 15% annually since 2018.
20
Online Black businesses expanded 40% during pandemic lockdowns.
21
Arts sector Black-owned up 22% 2012-2017.
22
Transportation Black growth: 18% over five years to 2017.
23
Black-owned businesses in fintech grew 300% from 2018-2023.
24
Wholesale Black-owned firms increased 12% 2012-2017.
25
Manufacturing growth for Black-owned: 10% from 2012-2017.
26
Real estate Black-owned up 16% 2012-2017.
Interpretation
Growth and Performance Interpretation
Despite persistent systemic barriers, Black entrepreneurship is not just resilient—it’s on a blistering hot streak, with growth exploding from tech to tacos and proving that the most impressive business curve is the one being bent toward justice.
05 · Category
Support and Initiatives26 stats
01
SBA 8(a) program supports 5,000 Black-owned firms annually.
02
MBDA invested $500 million in Black businesses from 2019-2023.
03
Black Business Investment Fund provided $100 million in loans since 2020.
04
Fed's Emergency Lending helped 20,000 Black firms during COVID.
05
Georgia's Black Business Fund allocated $100 million in grants.
06
10,000 Black entrepreneurs trained via Goldman Sachs 10,000 Small Businesses program.
07
Accion Opportunity Fund lent $300 million to Black borrowers since 2018.
08
Local Initiatives Support Corporation (LISC) aided 2,500 Black businesses with $200M.
09
NYC's Black Business Accelerator supported 500 firms with $50M.
10
US Chamber's CO—100 list highlights 100 top Black-owned companies annually.
11
FedDev Ontario invested $20M in Black businesses in 2022.
12
Black Girl Ventures raised $15M for 200+ Black women founders.
13
New Voices Foundation awarded $5M in grants to Black media businesses.
14
Mastercard Strive program trained 1,000 Black SMEs in digital skills.
15
JPMorgan Chase committed $30B to Black and minority businesses by 2025.
16
Bank of America's $1B minority business initiative includes Black focus.
17
Walmart's $100M Center for Racial Equity supports Black suppliers.
18
Google's Black Founders Fund gave $150M to 300 startups.
19
Verizon's Small Business Lab empowered 500 Black firms with tech.
20
Amazon's Black Business Accelerator provided $10M and mentorship.
21
PayPal's $530M racial equity forward initiative aids Black businesses.
22
Target's $2B spend goal with Black-owned suppliers by 2025.
23
Home Depot's $1B minority supplier commitment includes Black firms.
24
State of Black Business Index tracks progress with annual reports.
25
NMSDC certified 7,000 Black-owned firms for corporate contracts.
26
Operation HOPE's 1 Million Black Businesses initiative targets growth.
Interpretation
Support and Initiatives Interpretation
These figures are a powerful testament to the growing ecosystem of support, yet they also underscore the monumental catch-up race required to bridge centuries of systemic exclusion in American business.
Reference
Cite This Report
This report is designed to be cited. We maintain stable URLs and versioned verification dates. Copy the format appropriate for your publication below.
APA
Daniel Varga. (2026, February 13). Black Owned Businesses Statistics. Gitnux. https://gitnux.org/black-owned-businesses-statistics
MLA
Daniel Varga. "Black Owned Businesses Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/black-owned-businesses-statistics.
Chicago
Daniel Varga. 2026. "Black Owned Businesses Statistics." Gitnux. https://gitnux.org/black-owned-businesses-statistics.
Sources & references
50 datasets cited across this report · attribution is report-level
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