Black owned businesses make up less than 2% of all US corporations. There could be a $700 billion reward for those who can fill the gap.

Jun 21 2021 by Business Insider

 
McKinsey consulting firm estimates Black shoppers are willing to spend 20% more for a product that actually caters to them.

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McKinsey estimates $700 billion value can be created by companies that cater to Black customers. That wealth could also help solve the racial income and wealth gaps that exist in the US economy. Black households spent approximately $835 billion in 2019, making up only 10% of the nation's total. See more stories on Insider's business page.

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Continue Reading Black owned businesses make up less than 2% of all US corporations. There could be a $700 billion reward for those who can fill the gap.