Entrepreneurship Critical to Communities of Color as Job Creators and Wealth Generators

June 2, 2015 in Hot Business Tips, In the news by admin

Entrepreneurship Critical to Communities of Color as Job Creators and Wealth Generators
The National Urban League Wire (Reprint)
Published: Tue. Jun 2, 2015 at 12:05 pm | Updated: Tue. Jun 2, 2015 at 2:04 pm
Entrepreneurship is a fundamental element of economic self-sufficiency, and plays a critical role in the economic well-being of communities of color as job creators and wealth generators. Thus it is a cornerstone of the National Urban League’s mission.
Minorities disproportionately enter the workforce through self-employment or employment by minority-owned businesses. And although the number of minority owned firms are increasing at a higher rate than the minority population growth, income from these enterprises has not increased as quickly.

For as long as the U.S. government has been tracking joblessness by race, the black unemployment rate has remained about double that of white Americans. In the last few years, focus has shifted shift from the debate about the problems of unemployed, underemployed, and under-resourced communities to developing a comprehensive solution.

The National Urban League’s entrepreneurship and business development programs not only provides minority-owned businesses with financial investment, technical training and corporate relationships to create economic opportunities that ensure long-term growth, we are helping to change the very face of entrepreneurship. As minority-owned businesses grow, the influence of black business leaders grows as well, creating greater economic opportunities in communities of color.

Our Entrepreneurship Centers, operating in 12 cities across the country, allow entrepreneurs to access of new business opportunities and qualify for financing that will put them on the path towards high-level business growth through the application of proper management skills.

In addition to our job training and business development programs, we have advocated for initiatives to expand opportunities for  minority-owned businesses, such as increasing the funding available for small-business loans, encouraging support for private sector supplier diversity programs and eliminating SBA loan guarantee fees.

The success of minority entrepreneurs is key to decreasing the national unemployment rate and creating stable, self-sustaining communities. Learn more here.

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