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.
Think of the Black Wall Street of yesterday where our people had everything they needed and everything they were interested in at their fingertips. A place where we can build up and support our people in many different ways. UALE.COM connects the businesses, the interests, the culture that is all us…by us. These are the perfect times! The time is NOW!