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Government data shows that black unemployment remains at historic lows, while the number of small businesses owned by African Americans in the United States has exploded by 400% year-over-year, according to a survey of more than 2,600 small business owners and entrepreneurs by Guidant Financial.
The survey reveals that in 2018, 45% of small business owners were minorities - up from just 15% three years ago, with the majority of them belonging to African American owners.
Following African Americans, Hispanics were the next largest group of minority small business owners representing 14% of the business owners interviewed for the survey. Meanwhile, Asians made up 8% of the business owners surveyed while Native Americans made up 4%.
Looking more closely at the data, it's found that the majority of black business owners are between 40-49 years of age, while the #1 state for the demographic is Texas, followed by Georgia, California, Florida and North Carolina.
Meanwhile, 46% of black-owned businesses have just one employee, while 41% employ 2-5 people. Industries information is a bit sparse, with 13% providing "business services," 9% providing health/beauty/fitness as well as food or restaurant, 7% general retail and 28% "other."
This is the result of Trump's economic policies. One year ago, his approval rating in the black community was 19%; today it is 36%.