Deep Dive: 2.92% of New York businesses are classified as Black-owned
In this week's Deep Dive segment, News 12's Kristie Reeter looks at the growth of Black-owned businesses.
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Mar 4, 2022, 12:01 PM
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Updated 875 days ago
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150ds agoIn this week's Deep Dive segment, News 12's Kristie Reeter looks at the growth of Black-owned businesses.
In a News 12 poll - we asked viewers how they support Black-owned business. The majority of New York viewers said they shop local.
During the Census, there is new data on small businesses overall. Caleb Silver, with Investopedia, broke down the latest data on growth when it comes to Black-owned businesses.
"Well nationwide, we know about 2.33% of businesses are classified as Black-owned, according to the most recent Census. In New York, it is a little bit better than that, and the best in the tri-state area at about 2.92% so almost 3% and the growth trends are favorable," says Silver.
MORE: Want to support a Black-owned business? 7 ways to help you find shops during Black History Month
What are we expecting in the future?
"If we look at 2020 to 2021, we saw 33% growth in male-owned Black businesses, and about 22% growth in female-owned Black businesses and hopefully those trends will continue throughout 2022," says Silver.
