If you’re Black in America, you’re more likely to be an entrepreneur: 20 percent of the Black population started a business in recent years, compared to 12 percent of white Americans. This comes partly by necessity: A white-dominated upper echelon means the corporate path is more difficult, so many people of color choose to do their own thing. And they do it with fewer resources, which has been bad news for these small businesses amid the recession — 440,000 Black-owned businesses closed for good between February and mid-April alone. This summer’s racial justice reckoning spotlighted those challenges, but it also created new opportunities by applying pressure on corporate America to take a hard look at the need to open doors and eliminate barriers.
The result? A flowering of Black business that we’re highlighting in this week’s Sunday magazine. Read on for more about the entrepreneurs, industries and places to watch as you track this surge.
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Author: Anthony Peak
My name is Anthony T. Peak and I am a CPA and Business Owner. In addition to owning UALE.com, Peak CPA Services, LLC, and Peak Travel Services, I work as a Senior Compliance Manager for Verizon Wireless. I earned a B.S. in Accounting from Morris Brown College. While at Morris...
