Black Entrepreneurship Grows

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According to figures from the most current U.S. Census Bureau “Survey of Business Owners,” the number of Black-owned businesses grew by 45 percent between 1997 and 2002 and receipts for those firms increased by 30 percent in the same period. A more detailed report on Black-owned businesses is scheduled to be issued in the second quarter of this year. Below is the Census Bureau’s breakdown of increases in the number, sales and receipts of Black-owned businesses in the top 10 states for those businesses.

Changes in the Number of Black-Owned Businesses and Their Receipts: 1997 to 2002

1997 2002
Location No. of Firms Sales & Receipts ($billions*) No. of Firms Sales & Receipts ($billions*)
Total U.S. 1,197,988 92.7 823,499 71.2
New York 129,339 7.9 86,469 5.1
California 113,003 10.2 79,110 6.4
Florida 102.074 6.0 59,732 4.1
Georgia 90,480 5.9 55,766 4.1
Texas 88,777 6.7 60,427 6.9
Maryland 69,428 4.8 47,614 4.0
Illnois 68,708 5.2 41,244 3.9
North Carolina 52,134 3.7 39,901 2.3
Michigan 44,367 4.3 24,954 4.6
Virginia 41,158 3.5 33,593 3.4

* Rounded to the nearest tenth.