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Narrowing the Racial Wealth Gap through Business Ownership

November 1, 2015
Economic Opportunities Program

Joyce Klein

Senior Director

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This guide highlights existing research on the link between the racial wealth gap and business ownership. Because lower levels of business and financial assets held by African-American and Latino households are one of the key reasons for the racial wealth gap, business ownership may be an important means to narrow the gap.

 

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“The growing #racialwealthgap presents a challenge for funders striving to build assets and tackle inequality in the United States [and] business ownership may be an important means to narrow the gap.”“People of color have historically been challenged to secure the resources… needed to start and grow businesses.” How can we remedy these inequities and begin to close the #racialwealthgap?“Grantmaking and investment strategies focused on micro- and small-business development can directly address the factors that inhibit business creation, growth, and survival by African-American and Latino entrepreneurs.”

 

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at the Aspen Institute works to build understanding and strengthen the role of business ownership as an economic opportunity strategy. Follow us on social media and sign up to receive publications, blog posts, and other announcements via email.

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Publications

Narrowing the Racial Wealth Gap through Business Ownership

This guide identifies tools and strategies funders can employ to advance business ownership as a means to build wealth and reduce the racial and ethnic wealth gap.