Last Updated: March 2026 | Last Updated: March 2026 | Source Data: U.S. Census Bureau Annual Business SurveySBABrookings InstitutionPew Research Center

Data in this report is drawn from the following primary sources: U.S. Census Bureau Annual Business Survey (2024 ABS)U.S. Census Bureau Nonemployer Statistics by Demographics (2023 NES-D)Pew Research CenterBrookings InstitutionU.S. Small Business AdministrationGovSpend, and KingsCrowd.

All figures are updated as of March 2026 with the most current available data.


Black entrepreneurship is accelerating

The number of Black-owned employer businesses in the U.S. reached 200,885 in 2023 — up from 194,585 in 2022 and 124,004 in 2017. That five-year surge from 2017 to 2022 represented a 56.9% increase, with Black-owned firms accounting for more than half of the roughly 132,000 new employer businesses started nationally during that period.

These businesses now generate $249.0 billion in annual revenue, up from $211.8 billion in 2022 and $127.9 billion in 2017. They employ approximately 1.6 million workers and pay an estimated $61.2 billion in annual salaries (2022 figures; 2023 payroll data pending detailed release).

Yet despite this momentum, Black Americans still own just 3.4% of all employer businesses — far below their 14.4% share of the U.S. population. Closing that gap represents one of the largest untapped economic opportunities in the country.


Headline Numbers at a Glance

MetricFigureChange
Black-owned employer firms200,885 (2023)Up from 194,585 in 2022; +56.9% from 2017
Total Black entrepreneurs (all types)~4.6 million14.4% of all nonemployer businesses
Annual gross revenue (employer firms)$249.0 billion (2023)Up from $211.8B in 2022; ~66% from 2017
Total employees~1.6 million (2022)+34.6% from 2017
Annual payroll$61.2 billion (2022)+69.5% from 2017
Share of all employer firms3.4% (2023)Up from 2.2% in 2017
Average employees per firm~8

Top Industries for Black-Owned Businesses

Health care and social assistance dominates. Approximately 50,000 firms — about 26% of all Black-owned employer businesses — operate in this sector.

Black entrepreneurs own roughly 8% of all U.S. businesses in health care, and the share of Black ownership in this industry rose from 6% to 7.5% between 2017 and 2022.

The fastest-growing sector is transportation and warehousing, which surged nearly 150% from 2017 to 2022, growing from 3.8% to 7.9% of Black employer firms. Real estate, rental, and leasing doubled over the same period.

Industry% of Black-Owned FirmsGrowth Trend (2017–2022)
Health care & social assistance~26%Black ownership share rose from 6% to 7.5% of all U.S. firms in sector
Professional & technical services~14%Steady growth
Transportation & warehousing~9%~150% increase
Admin & support services~8%Notable growth
Retail trade~7%Moderate
Accommodation & food services~7%Moderate
Real estate & leasingGrowingDoubled from 2017 to 2022

Note: Industry percentages above are based on 2022 ABS data. The 2024 ABS (covering 2023) shows the overall industry distribution remains similar, with health care at 26.2% and professional services at 14.0%.