Sun. Jun 20th, 2021

Business

Black Owned Businesses Annual Revenue (US) :
$187,600,000,000 USD

Black Owned Businesses Annual Payroll:
$23,900,000,000

City with the most black businesses : NYC

Growth

Black owned businesses in the United States increased 34.5% between 2007 and 2012 totaling 2.6 million Black firms. More than 95% of these businesses are mostly sole proprietorship or partnerships which have no paid employees. About 4 in 10 black-owned businesses (1.1 Million) in 2012 operated in the health care, social assistance; and other services such as repair, maintenance, personal and laundry services sectors.

Jobs created by Black Owned Businesses : 1,000,000+

Featured Black Executive

L.A. Reid

L.A. Reid is a music executive and producer who has a net worth of $300 million dollars. He is best known for being the founder of Hitco Entertainment, Hitco Music Publishing and for co-founding LaFace Records with Kenneth “Babyface” Edmonds. He also spent years spent serving as the chairman and CEO of companies like Epic Records and The Island Def Jam Music Group. Through his various positions Reid has worked with dozens of the most-famous artists in music history. Some notable examples include Bobby Brown, TLC, Usher, Toni Braxton, Boyz II Men, Mariah Carey, Avril Lavigne, Justin Bieber, Kanye West, Rihanna, Whitney Houston and Travis Scott. While working for LaFace Records TLC sold 75 million albums and Usher – who was signed to the label when he was 16 – sold 65 million. Reid and Babyface won a Grammy as a songwriter for writing the Boyz II Men song “End of the Road”. He has won three Grammy Awards total.