In Baltimore, African Americans account for only 47% of new business owners, with businesses owned by people of color generally smaller and less stable than white-owned businesses.
While Black residents in Maryland are more likely to own a business than White residents, there are significantly more White-owned businesses with employees compared to Black-owned ones.
Black entrepreneurs face systemic financial barriers nationwide, operating with less financing and fewer employees, hindering their business sustainability.
Community involvement for Black entrepreneurs often lacks genuine connection, emphasizing the need for targeted financial programs and policy reforms to enhance economic opportunities.
#black-entrepreneurs #racial-disparities #financial-barriers #economic-opportunities #systemic-issues
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