Census data show 3,200 self-employed residents In
South St. Pete and 1,088 business establishments.
Citywide, over the last 35 years, the number of black
owned firms grew seven-fold (from 300 to 4,481).
Census data show $913 million in revenue to private
establishments in South St. Petersburg. Excluding
Wal-Mart - which was $113 million of the total –
establishments had average revenue of $500,041.
Census data show total self-employment income of
$87 million for Southside residents; and revenues of
$115 million to black owned firms citywide.
CRA residents are closing the gap: the self-
employment rate climbed 2 points from 2000 to
2014 (to 8% in the CRA vs 10% citywide).
Self-employment income is a bigger part of
Southside residents’ income, compared to others
in the City.
Black owned firms continue to struggle for scale
and sustainability. Several larger firms folded in
the past decade. Over the last 30 years measured,
black owned firms’ average revenue fell 63%.
Businesses in the CRA are smaller, less formally
organized, and create fewer jobs. Only 18% of the
CRA’s self-employed people have incorporated
businesses vs 48% citywide.