VERIFY: Yes, Black-owned business ownership has boomed under the Biden Administration
During Thursday night's debate, President Joe Biden claimed there were more Black-owned businesses in the U.S. now than "any time in history."
HOUSTON — President Joe Biden and former President Donald Trump met on the presidential debate stage for the first time in 2024 on Thursday, June 27.
Under rules from CNN, which hosted the debate, independent presidential candidate Robert F. Kennedy Jr. did not qualify.
The broadcast was historic in several ways, marking the earliest general election debate in history and the first time since 1960 that a presidential debate was held without a live audience.
The KHOU 11 VERIFY Team fact-checked claims made by Biden and Trump during Thursday night’s debate.
THE CLAIM:
Biden claims there are more Black-owned businesses in the U.S. now than "any time in history."
THE SOURCES:
THE ANSWER:
WHAT WE FOUND:
According to data from the United States Census Bureau and the Federal Reserve Board, Black business ownership in 2021 and 2022 hit record levels.
Data supports the claim that the prevalence of Black-owned small businesses has reached record levels under the Biden Administration, based on available data since 1989.
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