Driving prosperity: How Black-owned businesses fueled recent economic growth

"As part of our annual series expanding on the Path to 15|55 initiative, this report analyzes these trends pushing the nation toward a thriving and diverse economy. Using data from the Census Bureau’s American Community Survey and Nonemployer Statistics, we highlight the sectors and metro areas driving this growth. We also examine overall racial disparities in employer business ownership and compare the share of firms owned by different race and ethnicity groups to their respective share of the population—highlighting the growth needed to achieve equality."

Source: Andre M. Perry, Hannah Stephens, and Manann Donoghoe, The Brookings Institution

Date of publication: February 19, 2025