According to a new Pew Research Center report, Black-owned businesses increased in 2020 but still accounted for a small share of the firms and revenue across the United States.

The report showed that Black-owned companies grew from an estimated 124,004 in 2017 to 140,918 in 2020, and gross revenue was an estimated $141.1 billion in 2020,

Reportedly, those businesses represented only 3 percent of all U.S. firms classifiable by race and ethnicity.