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Black Owned Businesses Fastest Growning Segment of U.S. Economy

Black-owned firms grew faster — both in number and sales — than U.S. firms did as a whole over a five-year period, according to the latest data available from the Census Bureau.

The number of black-owned businesses increased 60% between 2002 and 2007, more than three times the growth seen among all firms, according to the Census Bureau’s business owners survey. Meanwhile, sales jumped 55%, vs. 34% for all businesses.