Inclusive Entrepreneurship Is Key to Unlocking Equal Opportunity - MYRTO KARAFLOS

is a contributing factor to the lower business Nine out of ten women-owned businesses values among Black- and Latine-owned firms.19 have no employees.23 In addition, firms owned by people of color When it comes to women entrepreneurs are more likely to hire workers of color, so the of color, many of the statistics regarding relative rarity of these firms represents lost the number and growth of th. [...] It it can support businesses of color.44 is the largest source of federal money Another issue is the lack of data on the that flows into small businesses.47 The outcomes of programs like SBDCs and the government has specific targets for the MBDA’s Business Centers, which makes it amount of contracting dollars that go to challenging to evaluate their effectiveness.45 small businesses, including a t. [...] Raising In response to the pandemic’s aftermath, the the percentage of contracting dollars that the federal government has passed legislation that government spends on SDBs by 2025 is one made funds available to states and localities to of the goals of the Biden administration.49 support their economic recovery. [...] The CFPB is expected to release initiatives to meet the needs of businesses the final rule in 2023,52 so the robustness of of color in three cities across the country: the data collection and reporting requirements Baltimore, Maryland; Tacoma, Washington; remains to be seen. [...] By leveraging localized knowledge to inclusive environment for small businesses connect the small business community to in Baltimore, the BASE Network has created various sources of small business funds and a business support infrastructure that assistance, the BASE Network has worked centers the needs of the community and the to give the small business community in entrepreneurs they are seeking.