Title: Black-Owned Public Companies
Headings: Black-Owned Public Companies
Black-Owned Public Companies
Companies that went public and how they're doing
Public vs. Private
Key Takeaways
What Makes a Business Black-Owned?
Particular Challenges Facing Black-Owned Businesses
Capital
Connections
Cash Flow
Publicly Traded Black-Owned Businesses
RLJ Lodging Trust
Urban One
Ping Identity Holding
Global Blood Therapeutics
Carver Bancorp
Broadway Financial Corp.
Axsome Therapeutics
American Shared Hospital Services
The Bottom Line
Directories of Black-Owned Businesses
Article Sources

Content: The report found an overall trend of significantly less lending to businesses in Black-majority neighborhoods, compared to White-majority ones. Orv Kimbrough, CEO of Midwest BankCentre, referred to this issue as "corporate redlining." 21 ﻿
Connections
Black business owners have less access to the types of mentor and peer networks that can help grow a business—and they are less likely to have family connections that can help. In a 2017 survey conducted by Prosperity Now, 23.3% of White firm owners gained prior work experience as part of a family member’s business, compared to 12.6% of Black entrepreneurs. 22 ﻿
Cash Flow
Black firms are more frequently found in industries with a lower earning potential, including beauty salons, childcare, home healthcare services, janitorial services, and barbershops. And even in these sectors, White businesses still tend to earn more than competing Black-owned businesses. 23 ﻿
Meanwhile, Black businesses in more lucrative sections—including physician and mental health offices, plumbing and heating/AC contractors, offices of lawyers, and full-service restaurants—earn less than White counterparts. 23 ﻿
Overall, Black-owned firms averaged $58,000 in revenue in 2017; White businesses averaged $546,000. 24 ﻿
Publicly Traded Black-Owned Businesses
Amid these challenges—and despite them—some Black-owned businesses have become substantial public companies.