Big increase in number of Mo. black-owned businesses, data shows
The number of black-owned businesses in Missouri increased sharply, by 47 percent, from 2002 to 2007, the St. Louis Business Journal reports.
The Business Journal breaks down the numbers as follows:
- Missouri had 24,697 black-owned firms in Missouri in 2007, up 47 percent from 16,758 in 2002.
- These firms accounted for nearly $2.45 billion in sales and receipts in 2007.
- Missouri ranks 19th among the states for the total number of black-owned companies.
- Nationwide, there were 1.9 million black-owned firms in 2007, up 63 percent from 2002.
- Sales and receipts from black-owned firms totaled $137.4 billion in 2007.
- Black-owned firms made up 7.1 percent of all firms and 0.4 percent of all sales and receipts in the U.S.
- About 94 percent of black-owned businesses nationwide have no paid employees, and 87 percent bring in less than $50,000 in annual revenue.
The next survey of this scope will be done in 2012, the Business Journal says.