A new CreditDonkey.com infographic released today, February 5, 2013, shows that black-owned businesses are thriving. The infographic, titled "Black Business Thriving," illustrates how the number of black-owned businesses grew exponentially faster than the rest of U.S. based businesses from 2002 to 2007, the most recent year available.
Even more importantly, the number of employees at black-owned businesses grew, as well as total receipts. These businesses are growing quickly, and in various industries and geographical areas. New York boasts the most black-owned businesses, at 204,032 statewide, followed by Georgia (183,874), Florida (181,437), Texas (154,281) and California (137,932). There were over 1.9 million black-owned businesses in the U.S. in 2007. Black-owned businesses account for 7.1 percent of the total number of businesses in the U.S., and the purchasing power of African-Americans amounts to an estimated $910 billion annually.