The number of black-owned businesses in Missouri increased sharply, by 47 percent, from 2002 to 2007, the St. Louis Business Journal reports.
Those numbers are according to data released this month from the U.S. Census Bureau’s 2007 Survey of Business Owners.
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.