The number of businesses owned by Black women grew dramatically from 2007—the beginning of the Great Recession—through 2012, when it ended.
But the businesses recorded the largest decline in average sales, compared with companies owned by White, Asian, Hispanic and Native American women.
To reach its conclusions, the Center for Global Policy Solutions, which is based in Washington, D.C., analyzed data supplied by the U.S. Census Bureau Survey of Business Owners for its report “The Color of Entrepreneurship: Why the Racial Gap among Firms Costs the U.S. Billions.”
Algernon Austin, senior research fellow, reported and wrote the report.
The U.S. Census Bureau reported that there were 32,109 Black-women owned firms in 2007. In 2012, the number increased by 6,500 or 20.2 percent to 38,609 firms.