Thursday, September 28, 2023

2019 National Trends for African-American Small Business Owners 

Date:

Share post:

Please share!
2019 National Trends for African-American Small Business Owners 
  • African American small business owners are younger and include more women, as they don’t wait as long to jump on the opportunity of opening their own small business compared to the average small business owner.
    • African American business owners age 40 to 49 overtake the average at 32 percent versus 25 percent.
    • There are more millennial African American small business owners (23%) than the average (18%).
  • There are more female African American small business owners than the average by a solid 15 percentage points.
    • Thirty-eight percent of African American small business owners are women — a big distinction from the average small business owner, of whom only 23 percent are women.
  • Between 2016 and 2018, there was a 6% increase in profitability for African-American small business owners.
  • 81% of Black business owners expect future revenue growth, and 60% expect to grow in size by hiring more employees.
  • 41% of Black business owners had no outstanding debt, significantly lower than their white (29%), Hispanic (33%) and Asian counterparts (35%).
  • With a 45 percent increase in industry share, African American small business owners are opening more health, beauty, and fitness businesses than in 2018. Health, beauty, and fitness overtook last year’s most popular industry, business services, as the most popular industry for African American small businesses.
spot_img

Related articles

Colorado St Head Coach Jay Norvell Rewards Player Who Made Dirty Hit On Wide Receiver Travis Hunter

Jay Norvell ; Career Record: 7 Years, 36-36, .500 Win% (at major schools) ; Bowl Record: 3 Games,...

The Takedown of America

In 2009 schools closed for an extra few days over Spring break because of “swine flu.” Stores ran...

“Three Term Tony” Expected to Run Again for Governor of Wisconsin

The cover photo of Governor Evers is distorted, hard to see, just like another term from him. The...

Joe Biden is the worst most Racist President since LBJ, Who are You Voting For?

Joe Biden is the worst most Racist President since LBJ, Who are You Voting For? SnipFrom  The Washington Times In 2007,...