AUSTIN, Texas — The number of black-owned businesses in Texas is growing, but the firms remain small in comparison to other Texas businesses, and their owners perceive significant barriers to growth and profitability, according to a new report from the Bureau of Business Research at The University of Texas at Austin.
Based on census data and a survey of black business owners, the report shows the number of black-owned businesses in Texas is growing faster than the state average for all businesses. The state saw a 74 percent jump in the number of black-owned businesses between 2002 and 2007, compared with a 25 percent rise in the number of Texas businesses overall during the same period. The BBR surveyed 914 black-owned businesses. Other survey findings dealt with access to capital, perceptions of profitability and training needs. Read more on The University of Texas at Austin news site.