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A new report shows that the number of businesses owned by African-American women has grown a very strong significance of 74% since 1997, according to Fortune magazine.
Women now own 30% of all businesses in the U.S., making up 9.4 million firms. The most interesting part of this story is, African American women control 14% of these companies, or an estimated 1.3 million businesses. Businesses owned by black women also top the charts in revenue growth when compared to other minority women-owned firms. Of course, we have some more work to do, but the progress is promising!
The highest concentrations of black woman-owned businesses are in Georgia, Maryland, and Illinois, but African American women are launching companies in growing numbers across the country, so there’s no telling on how far we can go!
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