- June 20, 2021
- Posted by: Stratford Team
- Category: Business
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Only 18.3% of American businesses are minority-owned, according to the U.S. Census Bureau, despite minorities comprising 40.3% of the population.
Why it matters: Business ownership can create wealth, and wealth begets wealth in America.
Only 18.3% of American businesses are minority-owned, according to the U.S. Census Bureau, despite minorities comprising 40.3% of the population.
Why it matters: Business ownership can create wealth, and wealth begets wealth in America.
The inequality might be even more severe than the numbers suggest, given that they were compiled before the pandemic. Businesses owned by Black, Latino and Asian Americans were decimated in 2020.
- The National Bureau of Economic Research estimates that the number of Black business owners decreased by 41% between February and April of 2020, while Latino business owners fell by 32% and Asian business owners declined by 26%. White business ownership was off by 17%.
- One reason for the higher…
