The Georgia Business Council has released its 2025 State of Minority Business Study, a biennial report that provides critical insights into the growth, economic impact, and challenges facing minority-owned businesses. As a statewide organization focused on advancing small business development, supplier readiness, and economic opportunity, GBC convenes corporate leaders, small businesses and partners to strengthen supply chains and drive inclusive growth.
“Small and minority businesses play a crucial role in growing Georgia’s economy through job creation, continuous innovation, and competitive adaptability,” said Stacey J. Key, President and CEO. “As we navigate a shifting economic environment, it is essential that we understand both the opportunities and the structural challenges that will shape how minority businesses grow, scale, and sustain long-term success.”
The study highlights key national trends:
- Minority-owned businesses represent 22.6% of U.S. employer firms (1.3M total) and grew 26.5% from 2018–2022, while non-minority firms declined 3.1%
- They employed 10.8M people in 2022 (up 14.2%) and accounted for over half of 2M new businesses formed in the past decade
- Black-owned businesses grew 56.2%, Hispanic-owned 40.3%, and American Indian and Alaska Native-owned businesses 94.5% since 2018
- Minority-owned firms added $642B to the economy and created 1.3M jobs, yet received less than 0.5% of venture capital and remain underrepresented in federal contracting
The report also underscores persistent barriers in access to capital, contracting opportunities, and market scale, despite the critical role minority-owned businesses play in driving innovation, job creation and long-term economic mobility.
For more information and to download the full report, click here.
