Black entrepreneurs in the United States face ongoing challenges despite the growth of Black-owned businesses in recent years. While Black Americans represent nearly 14 percent of the population, they only own about 3 percent of the nation’s businesses. In stark contrast, White entrepreneurs possess 85 percent of businesses, despite comprising around 60 percent of the population.
However, there has been an upward trend in Black-owned businesses, accompanied by increased revenue, according to a Pew Research Center analysis. As of 2021, there were 161,031 Black-owned businesses in the U.S., up from 124,004 in 2017. During this period, revenue generated by Black business owners rose from nearly $127.9 billion to $183.3 billion, marking a 43 percent increase.
