More fuel that the centers of black America have shifted, are now Atlanta and Washington, DC…
Hat Tip – NewsOne
The U.S. Census Bureau reported recently that Georgia has the second-highest percentage of black-owned businesses in the nation at 20.4 percent. Only the District of Columbia, at 28.2 percent of the city’s businesses, has a larger percentage of African-American ownership.
From 2002 to 2007, the number of minority-owned businesses in the nation increased by 45.6 percent to 5.8 million, more than twice the rate of all U.S. businesses, the bureau said.
More interesting news at the WSJ –
Minority companies have been hiring at a faster rate than non-minority companies — up 27% over the five years compared with 2.3% growth for white-owned companies, according to the Census numbers.
The Census Bureau reported that the number of black-owned businesses grew 61% to 1.9 million; the number of Hispanic-owned businesses grew by 44% to 2.3 million; and the number of Asian-owned businesses grew by 41% to 1.6 million. The number of white-owned businesses rose 14% to 22.6 million over the same period.
Revenues for minority-owned businesses in 2007 averaged $179,000, a number Mr. Hinson called “paltry” compared with the $490,000 average for non-minority firms. Black-owned businesses saw average revenues of $72,000 in 2007, down from $74,000 in 2002, he said.
The total revenues for all minority owned businesses rose 55.6% over the five year period to $1 trillion in 2007, a small number compared with the $30.2 trillion total for all U.S. companies, the report said.
Running Tigers Website can be found here. And Yeah – I know it’s not in DC or Atlanta… But who can pass up a good bottle of wine?