Brookings: Closing The Black Business Ownership Gap Could Create 6.3M Jobs And $824B in Revenue

Black Enterprise

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A new reports shows Black-owned employer businesses continue to grow, but still remain significantly underrepresented.

by Selena Hill

Black-owned employer businesses are reaching new heights, but a new Brookings Institution report says the U.S. is still leaving enormous economic potential on the table.

In “The Shifting Landscape for Black-Owned Businesses: An Update to the Black Business Parity Dashboard,” researchers found that Black-owned employer firms surpassed 200,000 for the first time in 2023 after at least six consecutive years of growth. According to the report, those businesses generated $249 billion in revenue, supported more than 1.8 million jobs, and paid $69.8 billion in annual wages.
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