Cities with essentially the most Black-owned companies
*Final month, in February, we celebrated Black Historical past Month, and to honor the event, researchers at TruckInfo.internet analyzed knowledge from the U.S. Census Bureau to raised perceive the optimistic affect of Black entrepreneurs.
Regardless of beneficial properties lately, Black entrepreneurs are nonetheless underrepresented
Though Black and African People signify 13.7% of the inhabitants, solely 3.2% of employer companies (these with no less than one worker) are Black-owned. This discrepancy highlights each the challenges and the untapped potential inside the group.
Black entrepreneurs see essentially the most success in Southern metro areas
Black-owned companies within the South exceed nationwide averages. For instance, Atlanta-Sandy Springs-Roswell, Georgia, has 9 occasions as many Black-owned companies as can be anticipated primarily based on inhabitants alone. The metro areas with the best focus of Black-owned employer companies embody:
1. Atlanta-Sandy Springs-Roswell, Georgia
Companies which might be Black-owned: 10.7%
Black inhabitants: 34%
Black-owned companies: 13,091
Black-owned companies per 10k: 62
2. Fayetteville, NC
Companies which might be Black-owned: 9.9%
Black inhabitants: 36.8%
Black-owned companies: 472
Black-owned companies per 10k: 33
3. Washington-Arlington-Alexandria, DC-VA-MD-WV
Companies which might be Black-owned: 9.4%
Black inhabitants: 24.9%
Black-owned companies: 10,627
Black-owned companies per 10k: 68
4. Memphis, TN-MS-AR
Companies which might be Black-owned: 9.1%
Black inhabitants: 46.8%
Black-owned companies: 1,477
Black-owned companies per 10k: 24
5. Virginia Seashore-Chesapeake-Norfolk, VA-NC
Companies which might be Black-owned: 8.8%
Black inhabitants: 29.7%
Black-owned companies: 2,357
Black-owned companies per 10k: 44
6. Baltimore-Columbia-Towson, MD
Companies which might be Black-owned: 8.0%
Black inhabitants: 29.0%
Black-owned companies: 4,201
Black-owned companies per 10k: 51
7. Richmond, VA
Companies which might be Black-owned: 8.0%
Black inhabitants: 28.5%
Black-owned companies: 2,011
Black-owned companies per 10k: 53
8. Columbus, GA-AL
Companies which might be Black-owned: 7.8%
Black inhabitants: 42.3%
Black-owned companies: 379
Black-owned companies per 10k: 27
9. Tallahassee, FL
Companies which might be Black-owned: 7.6%
Black inhabitants: 31.9%
Black-owned companies: 563
Black-owned companies per 10k: 45
10. Durham-Chapel Hill, NC
Companies which might be Black-owned: 7.5%
Black inhabitants: 24.0%
Black-owned companies: 837
Black-owned companies per 10k: 59
On the state degree, Washington DC, Maryland, and Georgia have the best focus of Black-owned employer companies — by a large margin
The District of Columbia, Maryland, and Georgia every have about 50% extra Black-owned companies in comparison with different states. Whereas 9% of employer companies in Georgia are Black-owned, solely 5% of employer companies in Mississippi are Black-owned, regardless that the state has the second-highest focus of Black inhabitants.
Transportation is the second hottest trade for Black entrepreneurs
Whereas solely 3.2% of employer companies are Black-owned, 6.9% of transportation and warehousing companies are Black-owned — greater than twice the nationwide common. Different widespread industries embody well being care and social companies, administrative help, and leisure.
Methodology
All knowledge was sourced from the U.S. Census Bureau for 2023, the newest knowledge accessible. Solely companies that employed no less than one particular person have been included within the evaluation.
This story was produced by TruckInfo.internet and reviewed and distributed by Stacker.
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