Black-owned businesses in Canada making lower profits than others: StatCan – National
According to Statistics Canada, black-owned businesses in Canada tend to be smaller and perform less economically than those owned by whites and other racialized groups.
In a new report that analyzed data from several sources through 2018, the agency found that the proportion of black business owners among all business owners increased over time.
However, the numbers show that Black-owned businesses may be struggling with lower profit margins on average.
Research shows that Black business owners face a range of challenges, especially access to capital, and that the Black business community is underrepresented when it comes to research and data.
According to Statistics Canada, black-owned businesses are more likely to be unincorporated.
Black business owners earn less on average than business owners from white or other racialized groups.