CFED Ranks African American Business Ownership By State

Earlier this month, the Corporation for Enterprise Development (CFED) released its “Assets and Opportunity Scorecard”, which uses available data to measure the financial security of American families. The study examines indicators such as net worth, home ownership, access to health insurance and entrepreneurship to determine its findings.

In terms of African Americans and small business ownership, although Blacks comprise an estimated 12.7% of the US population, only 3.3% own their own business.

And the rate of ownership varies greatly depending on the state. Montana ranked first, with 6.9%, more than twice the national average; Rhode Island scored the very lowest at less than one percent (.17%). Other rankings include California 4th (4.7%), The District of Columbia 14th (3.6%), and Georgia 15th (3.6%). Source