From the Impact Entrepreneur Magazine
Here is our take on the need for a fresh perspective to closing the wealth cap by helping more entrepreneurs of color & women get exposed to "Entrepreneurship through Acquisition (ETA)". We also talk about the need for more solutions to tackle systemic issues - solutions such as character-based lending to support entrepreneurs who have the basic skills to run a business but no capital for down payments to acquire and run a business. We invite other fellow impact entrepreneurs and investors on this journey to close the wealth gap. Feel free to post/send your comments and feedback on the article below.
This article originally appeared in Impact Entrepreneur Magazine.
The BIPOC wealth gap in the United States is growing, sustained by systemic inequities that have limited access to the cornerstones of wealth creation: real estate and entrepreneurship. While much has been done through CDFIs to improve access to real estate capital for under- served communities, the opportunity for small business ownership has greater access barriers, since BIPOC and women ownership rates are low to begin with. In the US 84% of businesses are white-owned and 62% are men-owned. Starting a business The path that has been most promoted for business ownership has been that of traditional entrepreneurship of starting…
