Category Archives: minority-owned business

A New Accelerator Sets Black Business Owners up for Success

The wealth disparity between Black and White Americans is widely documented—Black households across the country average about one tenth the median net worth of White households. In Washington, D.C., that gap is more like a chasm: White households have a net worth 81 times greater than the District’s Black households. The reasons for the national […]

The post A New Accelerator Sets Black Business Owners up for Success appeared first on Locavesting.

A New Funding Tool Aims to Fill the ‘Friends & Family’ Gap for African American Entrepreneurs

When starting a new venture, entrepreneurs have long been told to reach out to their friends and family for their initial seed capital. And in the crowdfunding age, early support from a close social network can make or break a fundraising campaign. Yet the concept of friends & family funding can be baffling to entrepreneurs […]

As Population Becomes More Diverse, Funding Options Grow

The gorgeous mosaic that makes up the U.S. is becoming more so. African-Americans, Asian Americans and Hispanics collectively account for 38% of the U.S. population, and are expected to surpass 50% by 2044. And the Millennial generation is not only large, it is the most racially diverse in the nation’s history. This multi-culti melting pot […]

Closing The Racial Wealth Gap Through Business Ownership

A recent report published by FIELD at The Aspen Institute and Asset Funders Network explored how philanthropic funders can help narrow the racial wealth gap in the U.S. through programs that support business ownership. Joyce Klein, director of FIELD and co-author of the report, offers some thoughts on the topic in this guest post. Much […]