NAMDVolume 11 Issue 2 www.
namdphiladelphia.
com March 2011
The Black Professionals News
The Growth of Black-Owned Businesses:
Entrepreneurship by Necessity
Marc H.
Morial, President and CEO, National Urban League
"I had to make my own living and...
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NAMDVolume 11 Issue 2 www.
namdphiladelphia.
com March 2011
The Black Professionals News
The Growth of Black-Owned Businesses:
Entrepreneurship by Necessity
Marc H.
Morial, President and CEO, National Urban League
"I had to make my own living and my own opportunity! But I made it! Don t
sit down and wait for the opportunities to come.
Get up and make them!"
Madam C.
J.
Walker, trailblazing African American businesswoman.
There is a silver lining in the dark cloud of the great recession.
A new Census
Bureau report reveals that from 2002 to 2007 the number of Black-owned
businesses in the United States increased by 60.
5 percent to 1.
9 million – more
than triple the national rate.
According to Census Bureau Deputy Director,
Thomas Mesenbourg, “Black-owned businesses continued to be one of the
fastest growing segments of our economy, showing rapid growth in both the
number of businesses and total sales during this time period.
”
The reasons for this are m
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