Mar08
“…what has not changed in recent years is the type of businesses that African-Americans own. In 1997, over half of all Black-owned companies were service related, i.e. beauty salons or auto repair shops. Much of the same was reported for 2002, with health care and social assistance service-related businesses as the most common industry for Black entrepreneurs. The second most common type was ”other industries,” which includes personal service companies, automotive companies, and all other service-related businesses outside of healthcare.
Why this concentration on health and social assistance? Rose-Goree says that the need-based nature of these companies prompts Black consumers to look to Black-owned businesses.” (more)
