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CHARLOTTE (QUEEN CITY NEWS) — As the U.S. celebrates National Black Business Month, a new report from B2B Reviews highlights where Black-owned businesses are thriving.
North Carolina ranks #3 in the country for Black-owned businesses, while South Carolina comes in just behind at #4. The rankings are based on several factors, like business growth, survival rates, payroll, and community support.
The report states that in North Carolina, nearly 16% of small businesses are Black-owned. The state also boasts one of the highest business survival rates in the nation and a strong Black population that helps support and grow these businesses.
The report states South Carolina has almost 20% of its small businesses being Black-owned, which marks the seventh highest rate nationally. It also ranks in the top 10 for both survival rate and Black population percentage.
Both states outperformed the national average and are proving to be strong environments for Black entrepreneurs to start and grow their businesses.
Want to see how your state ranked? Check out the full list here.
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