There was a story in the news today that the number of black businesses is growing faster than other businesses. The story went on to say that there are now 1.2 million black-owned businesses and the combined revenue from these businesses is $88.8 Billion.
Bottom line is that this is fantastic news for our country BUT when I ran the numbers (which is what I do), the average revenue per business is a fairly modest $74,000! So the flip side to this story is : Are the numbers correct and accurate? And if so, it sounds like what is being created is a bunch of micro-businesses or sole proprietorships. And I don't view that as a bad thing since that is the trend throughout the entire economy.
But I'd like to see what the average revenues are for other businesses. And I suggest the MSM should dig deeper into the data and this story cause I am busy and have a real job. Here is the link to the story.
Btw, this story reminds me of when the MSM breathlessly reports (and it does that every 3-4 months or so) that literally thousands of people make the majority of their living off of Ebay and when I run those numbers, it comes out this average Ebay etailer takes in like $299 per year.