AAPP Business Report - Winter 08
Growth of Black Firms Outpaces Peers;
So Why Are Their Revenues Lagging?
Black firms are becoming a larger portion of Washington’s businesses. However, revenue growth is a different story. The total revenue of Black firms in Washington grew by 220% in 1992-2002, but statewide, business revenues grew by 416%. Why is the revenue growth of Black firms slower than the revenue growth of businesses statewide?
We need to find out. Since the number of Black-owned businesses is increasing more rapidly that the number of businesses statewide, it is important to understand what helps or hinders these businesses. To the extent that they successfully grow, they will employ an increasing share of Washington’s workforce and provide a growing share of business tax revenues to support public expenditures.
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