MERIC NEWS LETTER

Number of Black-Owned Firms Increases by 22 Percent

There were 16,758 black-owned firms in Missouri in 2002, up from 13,678 in 1997, according to recently released data from the U.S. Census Bureau's 2002 Survey of Business Owners. This was a 22.5 percent increase in the number of black-owned firms in the state. These firms accounted for nearly $1.5 billion in sales and receipts in 2002.

In the U.S., there were 1.2 million black-owned firms in 2002, up 45.5 percent from 1997. Sales and receipts from black-owned firms totaled $92.7 billion in 2002. Black-owned firms made up 5.2 percent of all firms and 0.4 percent of all sales and receipts in the U.S.

States with the largest number of black-owned businesses were New York (129,339), California (113,003), Florida (102,074), Georgia (90,480), and Texas (88,777). California had the largest gross sales from black-owned firms. Missouri ranked 19th among the states in the total number of black-owned firms.

Only New York, California, and Florida have more than 100,000 black-owned businesses. Twenty states had fewer than 5,000 black-owned firms in 2002.

States with the highest percentage of black-owned businesses, as a percent of all firms, were located mostly in the southern and eastern portions of the United States. The area with the largest percentage of black-owned businesses was the District of Columbia at 25.9 percent. Other states with a large percentage of black-owned businesses were Maryland (15.7 percent), Georgia (13.4 percent), Mississippi (13.3 percent) and Louisiana (12.2 percent). In Missouri, blacks owned 3.8 percent of all firms in 2002, up from 3.3 percent of all firms in 1997.

Source: U.S. Census Bureau, Survey of Business Owners

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