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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.
“Black-owned businesses continued to be one of the fastest-growing segments of our economy,” said Thomas Mesenbourg, deputy director of the Census Bureau, in a written statement.
Despite the growth, black-owned businesses in 2007 make up just 7% of U.S. businesses. Yet African-Americans comprise about 13% of the population.
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