Finance and Assets

Narrowing the Racial Wealth Gap through Business Ownership

November 1, 2015  • Joyce Klein & Jenna Liang

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This guide highlights existing research on the link between the racial wealth gap and business ownership. Because lower levels of business and financial assets held by African-American and Latino households are one of the key reasons for the racial wealth gap, business ownership may be an important means to narrow the gap.

 

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“The growing #racialwealthgap presents a challenge for funders striving to build assets and tackle inequality in the United States [and] business ownership may be an important means to narrow the gap.”

“People of color have historically been challenged to secure the resources… needed to start and grow businesses.” How can we remedy these inequities and begin to close the #racialwealthgap?

“Grantmaking and investment strategies focused on micro- and small-business development can directly address the factors that inhibit business creation, growth, and survival by African-American and Latino entrepreneurs.”

 

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