By Rieva Lesonsky Black business owners want their businesses to contribute to a thriving Black community. getty Since 1976 every U.S. president has designated February Black History Month to honor the achievements of Black Americans. And while the growth of Black-owned businesses is undoubtedly one of the achievements to celebrate, Black business owners still face formidable challenges. Last fall, the U.S. Census Bureau released the 2021 Annual Business Survey (covering 2020), showing an estimated 140,918 Black-owned businesses with employees in the country, earning $141.1 billion in annual receipts and employing 1.3 million workers. Yet, according to Brookings , Blacks comprise 14.2% of the U.S. population, but only own 2.3% of all employer firms. Additionally, there are about 3 million Black-owned businesses without employees. So, in total, there are approximately 3.12 million Black-owned businesses, generating $206 billion in annual revenues and employing 3.56 million workers. Intuit QuickBooks recently released a new insights report containing some eye-opening stats about the “Black entrepreneurial experience in America.” It shows that “in addition to the pressures of running a business, Black business owners must navigate racism and biases that threaten their success.” Black business owners must deal with racism According to the report, 79% […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
