The racial wealth gap in the United States has remained relatively unchanged since 1967, with Black and Brown Americans making a little more than $57 for every $100 in income earned by their White counterparts. When you consider that 66 percent of new entrepreneurs start their businesses using personal savings, that statistic becomes even more alarming. To make matters worse, Black and Brown entrepreneurs are denied loans nearly twice as often as white entrepreneurs. These statistics are the economic reality of millions of Americans and are a key factor in driving economic opportunity out of reach for many people of color. The economic environment that has been created is a direct and clear threat to entrepreneurship in BIPOC (Black, Indigenous, and people of color) communities and the larger app economy and is the driving force behind this multi-part “Access to Capital” webinar series.
Our Amplify Diverse Talent Working Group hosted Part 1 – The Issues of our “Access to Capital” series back in May, and if it didn’t make it on your calendar, no worries. You can watch the panel in its entirety below or on our YouTube channel. You can also register for Part 2 – The Solutions, taking place in July, here.
