# Growth of Black-owned businesses in the U.S > Live situation record from CLSTR: https://clstr.news/situations/growth-of-black-owned-businesses-in-the-us > Updated: 2026-08-24T15:31:00.000Z. Sources: 2. Developments: 2. Black-owned employer firms in the United States have surpassed 200,000, following a period of significant growth. Between 2017 and 2023, the number of these businesses increased by 62%, a rate reported to be nearly twenty times faster than the 3.3% growth seen in all U.S. employer firms during that same timeframe. By 2023, these businesses generated $249 billion in annual revenue, supported more than 1.8 million jobs, and paid out $69.8 billion in salaries. While the number of Black-owned employers has grown, they represent 3.4% of employers compared to Black residents making up 14.4% of the U.S. population. However, data indicates that the parity gap between the share of Black employers and the Black population has shrunk in 60 U.S. metro areas since 2022. Qualitative data suggests that Black entrepreneurs often prioritize community impact and legacy. Approximately 74% of Black business owners stated it is “very important” that their business creates career paths for individuals from similar backgrounds, and 54% intend to impact local communities by creating jobs for local residents over the next five years. ## Timeline ### 2026-08-24: Black-owned businesses in the U.S. see 62% growth since 2017 Black-owned employer businesses in the U.S. grew 62% since 2017, reaching over 200,000 firms and $249 billion in revenue, though a significant ownership gap remains compared to the total population. 2 sources. https://clstr.news/cluster/black-owned-businesses-in-the-us-see-62-growth-since-2017 ### 2026-08-13: Black-owned employer firms in the U.S. surpass 200,000 Black-owned employer firms in the U.S. have exceeded 200,000, growing 62% since 2017. These businesses generate $249 billion in revenue and prioritize community job creation and career pathways. 3 sources. https://clstr.news/cluster/black-owned-employer-firms-in-the-us-surpass-200000 --- Cite as: Growth of Black-owned businesses in the U.S. CLSTR, https://clstr.news/situations/growth-of-black-owned-businesses-in-the-us