Black owned firms growing rapidly
After years of working for others, Jean Johnson saw an opportunity to seize her own destiny in 1997.This flight from dependency has to be bad news for Democrats who tend to act like the enemy of small business on taxes, minimum wage, health insurance and other issues.Johnson, an African-American who lives in Houston, quit her job as an in-house lawyer for Exxon Mobil Corp. and went into business for herself, teaching company executives strategies for avoiding lawsuits.
"The only way you can control your future is to be in control," said Johnson, 45, founder of Houston-based LegalWatch. "It's something that I always wanted to do."
Stories like Johnson's are playing out more and more across the U.S. and Texas, as black entrepreneurs launch companies at a pace far exceeding the average startup rate for all businesses.
According to U.S. Census Bureau data released Tuesday, the number of black-owned businesses in Texas rose by 47 percent between 1997 and 2002. That growth was more than triple the statewide increase for all businesses.
In Harris County, the number of black-owned businesses jumped 35 percent, compared with the county's overall increase of 25 percent.
The local increase was in line with the national trend. The number of black-owned companies grew by 45 percent, more than four times the nationwide rise of 10 percent for all businesses.
Experts say the black business boom is a sign of changes in the corporate world.
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