Boston Business Journal, June 3, 2022, Supporting the Engine of Small Businesses
Small businesses are an engine to create financial sustainability and economic mobility, which can build wealth. However, wealth creation through business ownership is far less likely for Black and Latinx owners. The National Community Reinvestment Coalition has found that this is in large part due to the systemic barriers that these owners face—the markets they operate in, the business types they tend to run, the lack of initial wealth to start the business, and the reduced access to capital. We also know that these same barriers discourage people of color from starting businesses.
