Black-owned businesses face significant obstacles – anti-racial justice efforts are making them worse

(TriceEdneyWire.com) – “Recent legal challenges have targeted programs aimed at alleviating the obstacles faced by marginalized communities, particularly those designed to promote equity in entrepreneurship … With this analysis, we can create and implement strategies that catalyze informed policymaking, advocacy efforts, and targeted interventions aimed at reversing systemic barriers and fostering a more equitable entrepreneurial ecosystem.” – Alliance for Entrepreneurial Equity, The State of Black Business 2024 The good news: Black-owned businesses are more likely than other businesses to have a low level of debt, or no debt at all. The bad news: that’s because Black-owned businesses are far less likely to be approved for loans in the first place, and Black business owners are more likely to pull from their personal savings for business expenses. Related Stories The Alliance for Entrepreneurial Equity, a partnership of the National Urban League and Third Way, embarked on an “analytical journey” to understand the nuanced dynamics of racial inequality in the business landscape and underscore the urgency of advancing equal opportunities for Black communities and other communities of color. The result, the State of Black Business report, finds that Black Americans are drastically underrepresented among business owners relative to their share of the...