 African American and Owning a Successful Small Business - Is It Possible?How do black-owned businesses rank in the US? Are they finding success as business owners?
By: Business Marketing Power MINNEAPOLIS - May 1, 2013 - PRLog -- Every five years in the United States, data is collected by a Survey of Business Owners: Black Owned Businesses. The last survey was released early this 2011 and included the five year period between 2002 and 2007. During this time the growth in black-owned businesses increased by 60%. This number is more than 3 times the amount of new businesses starting across the country during the same time frame.
But are black business owners creating a successful small business? The government defines black-owned businesses as a business that is at least 51% owned by an African American. During the years between 2002 and 2007 black business owners brought in over $130 billion through sales! Although black successful small business owners, brought in these record breaking numbers, their companies continue to remain relatively small. Many African American business owners, around 87%, earn approximately $50,000 per year. What businesses are black business owners creating? According to the survey, approximately 19% of black-owned businesses created successful small business in health care, social assistance, repair, maintenance, laundry services, and personal services. Support, administrative, waste management, and remediation industries made up 11% of the businesses. The states of New York, Florida and Georgia had the most businesses start by African Americans. What happens next for black business owners? Black-owned businesses to the extent that is seen today, is a relatively new occurrence. Due to the state of the country’s current economic situation, focusing some attention on black-owned businesses will be key in creating a sustainable future. Helping black business owners create jobs, growth, and a successful small business, will continue to put America back on track! About US Business Marketing Power provide SEO services in Orlando, Houston and Minneapolis. Our SEO Company in Minneapolis serves as our headquarters. Business Marketing Power has already provided SEO services to companies in these areas and continue to reach more clients from different parts of the globe. If your Community needs our Affordable seo services Check out http://www.businessmarketingpower.com Also check out our Affordable seo service video at https://www.youtube.com/ End
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