NC ranks No. 3 in best states for Black-owned businesses
B2B Reviews ranked all 50 states and D.C. on seven metrics for National Black Business Month, spotlighting where Black-owned businesses thrive.
CHARLOTTE, N.C. — National Black Business Month is celebrated each August, and this year, North Carolina ranked third in the United States for Black-owned businesses, according to a report from B2B Reviews.
The state placed tenth for the number of Black businesses, with nearly 16% identifying as Black-owned, the report states. North Carolina also reported third-highest business success rate at 60.7, which is above the average of 56.1.
According to the report, the Black households in North Carolina earn about 72% of the state’s overall median income, slightly higher than the national average of 70%. Black-owned businesses also posted tenth-highest annual payroll and received 3.21% of all SBA loan approvals in 2025.
Growth is on the rise as well. Black-owned businesses increased nearly 17% between 2023 and 2024.
To determine its rankings, B2B Reviews compared all 50 states and the District Columbia across the following eight key metrics:
- Percentage of Black-owned businesses
- Percentage of employer businesses
- Percentage increase of Black-owned businesses
- Percentage of population that’s Black
- Business survival rate
- Median income of Black households
- Black-owned business annual payroll
- SBA loan approval amounts
The report highlighted that Black-owned businesses are vital to the economy by creating jobs, distributing wealth and boosting inclusivity.
B2B Reviews provides customer insights into business-to-business products and services, helping companies assess vendors’ credibility, reputation and service quality.
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