Black owned employer businesses in the United States increased 13.6% between 2012 and 2017 totaling 124,000 Black firms. These businesses employed 1,208,270 people, an increase of 23.9 percent from 2012; their payrolls totaled $26.1 billion, an increase of 30.3 percent (not adjusted for inflation).
Almost 1 in 3 (32%) of Black owned employer firms are Health care and social assistance related businesses totaling 39,714 firms. Professional, scientific, and technical service related Black owned employer firms made up 13% totaling 16,392.
Receipts generated by Black-owned employer businesses during the same time period increased 23.6% to $127.9 billion. The top earning industries in Black owned employer businesses are in Health care & Social assistance, and the Retail Trade sectors totaling more than $41 billion in receipts.