LendingTree’s fifth annual Black-Owned Business Hubs report finds that Black-owned businesses account for 3.4% of all U.S. businesses.

That share remains far below the Black share of the U.S. population (14.4%), even as dozens of metros are showing strong Black business momentum.
Key takeaways

  • Black-owned businesses remain nearly flat year-over-year, up 3.3% from the previous year, while white-owned businesses account for 80.6% and Asian-owned businesses 11.5% of all U.S. firms.

  • Atlanta leads the nation for the fourth year in a row, with 10.7% of businesses Black-owned. Fayetteville, N.C. (9.9%), and Washington, D.C. (9.4%), rank second and third. Salt Lake City ranks last, with just 0.5% of businesses Black-owned.

  • About 1 in 4 Black-owned businesses operate in health care and social assistance. Professional, scientific and technical services (14.0%) and administrative and support and waste management and remediation services (8.1%) follow.

  • Women lead nearly 40% of Black-owned businesses and their firms tend to be younger. 24.9% of all Black-owned businesses are less than two years old, rising to 26.8% among Black women-owned businesses.

LendingTree’s chief consumer finance analyst and small business expert, Matt Schulz, highlights the broader context behind the data:
“Black-owned businesses make up just 3.4% of all U.S. businesses. This figure still reflects growth and shows that Black entrepreneurs continue to drive momentum in the face of real challenges, including limited access to affordable capital, high interest rates, and persistent inflation. Their resilience and innovation are shaping local economies and creating opportunities across the country.”
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