UNITED STATES, (WAND) - August is National Black Business Month.
Black business owner account for about 10 percent of U.S. businesses and about 30 percent of all minority-owner businesses. NBC affiliate, WPTV, reported there's been a 34- percent increase in black owned businesses in the last decade nationally according to latest figures from the US Census Bureau.
National Day Calendar reported, 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 U.S. followed by Atlanta. The highest ratio of black-owned businesses is in Washington, DC 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.