There are about eight million minority-owned businesses in the United States, according to the Census Bureau. Of these, about 2.5 million are owned by African-Americans. African-American-owned firms account for about 10% of the approximately 27 million in total of U.S. businesses.
- World Wide Technology, Inc., a Maryland Heights, Mo-based IT products and services firm, was started in 1990 by David Steward, who remains chairman of the board. Chief executives for the company include Steward and Co-Chief James Kavanaugh. This firm enables its customers to implement technology. With more than $10 billion in revenue at the end of 2017, the firm employs about 5,000 people.
- ACT-1 Group, Inc. a business founded by Janice Bryant Howroyd in 1978, is a global firm that helps other businesses manage their workforce and employment needs. Based in Torrance, Calif., the firm started off as an employment agency. As of 2017, the firm employed more than 2,000 people and its revenues were about $2.8 billion.
- Bridgewater Interiors, LLC a Detroit-based firm, is in the business of supplying automotive parts. Founded in 1998 and led by CEO Ronald Hall, Sr., the firm is a joint venture between Epsilon Technologies and Johnson Controls, Inc. With an employee base of about 2,087, the firm generated $2 billion in revenue at year end 2017.
- Piston Group is a Southfield, Michigan-based firm. The company was founded by Vincent Johnson. It has a portfolio of automotive companies. Its brands include Piston Automotive, Irvin, Detroit Thermal Systems and Airea. As of 2017, the company had 9,520 employees with revenue of $1.7 billion.
- Coca-Cola Beverages Florida L.L.C. is one of many Coca Cola franchises. It is led by Troy Taylor. The company has been acquiring more territory in the Florida area to build out its business. As of 2017 it had 4,600 employees and revenue of $1.2 billion.
The Bottom Line
Black-owned businesses account for a substantial amount of U.S. revenue and all minority-owned businesses. Most of these firms have been established in the last few decades, and many are still led by their entrepreneurial founders. Annual revenue of black owned firms ranged from $10 billion to $10 million across the top 100.