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There is ONE big difference between Black and Hispanic Business at the bottom and it is the inequity in government lending that keeps black business from growing and wealth gaps in place. For Blacks it is financial lending oppression another form of the war on closing Black wealth gaps and uplift.
There is ONE big difference between Black and Hispanic Business at the bottom and it is the inequity in government lending that keeps black business from growing and wealth gaps in place. For Blacks it is financial lending oppression another form of the war on closing Black wealth gaps and uplift.
(Employer + Nonemployer business facts)
(Employer + Nonemployer business facts)
In 2019, Hispanic entrepreneurs operated ≈ 4.19 million nonemployer firms (15.5%), earning $156.5 billion according to Brookings+4Census.gov+4Federal Reserve Bank of Richmond+4.
Meanwhile, Black-owned nonemployer firms totaled ~3.455 million (12.7%), with receipts around $83.6 billion Census.gov.
SBA lending share (2023):its in the numbers who can open and fund their business when funded by the SBA its people in the systems keeping the disparities to keep wealth gaps.
White firms received 42.3% of SBA 7(a) funds, 8 Asians: 19.0%, Hispanics: 8.5% and Black firms only: 4.6% (Hispanics receive 2x as much loans, Asians 4.8 x as much and whites 9.19x more loans as black firms. This discrimination still exists in unfair distributions which limits Black firms ability to start and grow their business overall.
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