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Black Business Month
August is Black Business Month. Black business owners account for about 10 percent of United States businesses and about 30 percent of all minority owned businesses. According to the United States Census Bureau, that amounts to approximately two million companies owned by African-Americans. Nearly 40 percent of black-owned businesses are in health care and social assistance, repair and maintenance, and personal and laundry services. Other categories include advertising firms, auto dealerships, consulting services, restaurants, barbershops, beauty salons, and more.
Among cities, New York has the most Black owned businesses in the United States followed by Atlanta. The highest ratio of black-owned businesses is in Washington, D.C., where 28% of all businesses are Black owned. The growth of black-owned franchise businesses has been explosive. In 2012, over 30% of franchise businesses were Black owned, up from about 20% five years previous.
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