Simply going by “Bus/1000” is simplistic; size and quality of the business and other factors also count; that is why the states listed are considered the top 10:
MOST SUPPORTIVE STATES FOR BLACK-OWNED BUSINESSES
By Amanda Postma Jun. 11, 2020
Find A Job You Really Want In
With African Americans occupying 13% of the U.S. population, it’s shocking that only 7% of the country’s businesses are black-owned. Recent events have led to a nationwide push to support black-owned businesses so we wanted to find out what states support a thriving environment for black-owned businesses.
The Most Supportive States for Black-Owned Businesses
- New York
- New Jersey
- North Carolina
This list is comprised of the most supportive states for black-owned businesses. If you don’t see your state on the list above keep reading to find our complete list of the states ranked by their supportiveness.
" HOW WE DETERMINED THE MOST SUPPORTIVE STATES FOR BLACK BUSINESSES
We looked at four factors to determine the best states for black business owners:
- Number of black-owned businesses per capita
- The amount of people employed by black-owned businesses
- Percent of black residents with a bachelor’s degree or higher
- The percent of black workers who work in management and business
The first factor we examined was the number of black-owned businesses per capita, using data from the Census’ Annual Business Survey. What better way to determine which states have the right environment and support for black businesses to flourish than the number of black businesses currently in operation?
After that, we pulled in the number of workers employed by black businesses to gauge the size
and the success of those businesses.
However, businesses don’t grow in a vacuum. We then looked at the percent of black residents with a bachelors’ degree or higher from the ACS. College is great to get the knowledge you need for your business to succeed and meet people who can help you along the way.
Finally, using the trusty ACS data, we examined the percent of black workers who work in management and business. A strong business community of color provides valuable experience and mentorship.
Due to too small of a sample size in the Small Business Survey, Wyoming, Vermont, Connecticut, and Maine were excluded from our rankings."