Entrepreneurship

Since the start of the pandemic, women, particularly women of color, have become the leading drivers of business creation in the U.S. In 2020 and 2021, women accounted for 49 percent of new business launches, according to a study by Gusto, a human resources software company, compared to 42 percent for men in 2021. Meanwhile, …

How Women Entrepreneurs Are Creating New Businesses in Record Numbers Read More »

The federal government does want to promote underrepresented groups in entrepreneurship – mostly women and minorities. But unfortunately, it’s not through the tax code. Everyone is subject to the same tax laws, and everyone has access to the same deductions. However, federal, state, county, and city governments around the country have programs that can help your business including business development opportunities, government sponsored grants and loans, and much more!

If any businesses certainly need every available advantage when it comes to success, its minority-owned businesses. Federal laws have been created to protect minority businesses and ensure equality in business resource access. Even though minority-owned businesses have been making increased strides in industry access and parity, there is still a long way to go.

More women are self-employed now than prior to the pandemic — particularly Black and Hispanic women and those without bachelor’s degrees, finds a new analysis from the Center for Economic and Policy Research.

According to a report released by Transparent Collective, on average, people of color (POC) in a survey raised 48% less money than white male founders. With larger series A rounds in white male hands, it is understandable that there are some outliers with higher revenues on average, the report said.

There’s no denying the realities of starting a business are nothing short of challenging. You’ve got rapidly evolving tech to keep up with, increasing competition, higher operating costs, and not to mention, the overall uncertainty that always comes with founding a new business — “Will my idea even succeed?”

Despite headlines proclaiming growth and progress, the funding gap for female and BIPOC-founded startups remains significant. Halfway through 2021, the funding for U.S. startups led by Black women had already outpaced the total from 2018 (the previous five-year high), but the $494 million raised at that stage still represented just 0.34 percent of total venture capital spent.

Chicago nearly tripled its investment in Black and Latino startup founders since 2019, according to a report, as efforts to diversify the city’s startup scene show early results.

The Hispanic small business sector is growing, and Millennials are fueling that boom. Learn more about the reasons why.

The pandemic crisis has seen a boom in Black women – ‘so often entrepreneurs of necessity’ – setting up on their own

Initially the coronavirus pandemic hit small businesses across the country hard, forcing many to limit hours, shorten services and, for some, shutter their doors permanently. Despite the serious setbacks, Black small business owners prevailed and are on track to continue to grow.