Nearly half of America's black-owned businesses were launched in the last 5 years
African-Americans owned just 2.1 percent of the nation's companies in 2014, despite making up 12 percent of the population, according to the U.S. Census Bureau. But nearly half of those black-owned firms were launched in the past five years, The Wall Street Journal reports, suggesting the racial gap may begin to narrow in the coming years. Still, African-Americans' companies earn far less money than other firms.
White-owned businesses made up 81 percent of companies in 2014, 9.7 percent were Asian-owned, and 5.8 percent were Hispanic-owned. The Census Bureau released this information as part of its new Annual Survey of Entrepreneurs, whose first installment was released this month. You can read more about the correlations they found between race and entrepreneurial success at The Wall Street Journal.
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