Black-owned businesses in the U.S. see 62% growth since 2017

Data from the Brookings Institution’s Black Business Parity Dashboard shows that the number of Black-owned employer businesses in the United States grew by 62% between 2017 and 2023, surpassing 200,000 firms. In 2023, these businesses generated $249 billion in revenue, provided over 1.8 million jobs, and paid $69.8 billion in salaries. Despite this growth, Black business owners represent 3.4% of employers, while Black residents make up 14.4% of the U.S. population.

In 60 U.S. metro areas, the parity gap between the share of Black employers and the Black population has shrunk since 2022. Meanwhile, the American Urban Radio Networks (AURN), the largest African-American-owned audio network, continues to expand its reach through multi-platform delivery, including its new Amplified Voices content hub, to serve approximately 35 million weekly listeners.