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Equality
Economics

US Startup Surge Is Driven by Growth in Majority Black Areas

  • Business applications doubled in majority Black counties: AEE
  • Record 5.4 million businesses were formed in 2021, Census says
RF office businesswoman black

Source: Getty Images

US entrepreneurial growth since the pandemic was particularly robust in areas where minority groups comprise the majority of the population, according to the Alliance for Entrepreneurial Equity.

From 2019 to 2021, majority Black counties saw new-business applications jump 103%, compared with a 54% increase nationally, the AEE said in a report released Monday. The group is a joint venture between center-left think tank Third Way and the National Urban League, a civil-rights organization.