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Breaking Down Systemic Barriers Around African American Entrepreneurship, Marcus Cole, Bryan Ritchie, Philip Gaskin, Andrew Welters
Breaking Down Systemic Barriers Around African American Entrepreneurship, Marcus Cole, Bryan Ritchie, Philip Gaskin, Andrew Welters
2019–Present: G. Marcus Cole
Jul 1, 2020
The benefits of entrepreneurship are well documented. Startups are responsible for nearly all job growth in the United States, experience growth rates substantially higher than other businesses, can help eliminate poverty and have an outsized impact on overall economic productivity and GDP. Despite this, entrepreneurship and venture capital have been largely closed to minorities, with African Americans being impacted particularly hard.
African Americans make up approximately 13 percent of the U.S. population yet only 2.2 percent of small businesses are owned by them. By comparison, whites make up approximately 60 percent of the population but own 82.5 …