13 OCT 2020
Running a Business While Black: Analyzing the Obstacles of Black Entrepreneurship
Black business owners face unique challenges in starting, maintaining, and growing their businesses. To better understand these challenges, Goldman Sachs 10,000 Small Businesses analyzed data from program graduates across the country.
The findings show difficulties getting funding, generating revenue, and hiring full-time employees at the same level as white business owners. However, they also show higher levels of education and greater community leadership for black business owners, demonstrating significant downstream effects.
In the context of COVID-19, pre-existing business challenges are exacerbated by adverse market conditions and any potential closures could have a wider community impact.
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