Only 2.4% Of Black Owned Businesses Have Paid Employees [Video]

One of the toughest aspects of being a black business owner is scaling up. It’s not just my personal opinion; it’s a reality backed by data. According to the U.S. Census Bureau, only 2.4% of black-owned businesses have paid employees, employing just 1% of all workers in America. It’s clear that most of our businesses struggle to reach the level where hiring employees becomes necessary for growth and sustainability.

But why is this the case? While lack of capital plays a significant role, I believe another key factor is the types of businesses we choose to start. Many of us gravitate towards ventures that are inherently difficult to scale or simply cannot be scaled up efficiently.

I take pride in being part of that 2.4%, but let me be clear: scaling a business is incredibly challenging. I still encounter obstacles as I strive to grow my own business.