NewsBlack-Owned Businesses Face Funding Decline, Need Support

Black-Owned Businesses Face Funding Decline, Need Support

The report is in keeping with previous scholarship regarding the chronic underfunding of Black-owned businesses.

As Marc Morial, the president and CEO of the National Urban League, writes in a column for The Sun-Times, the disparities in funding are part of a larger campaign to preserve the systematic inequality present in America. “The promises of racial justice that America made in the wake of George Floyd’s murder cannot be abandoned. The efforts to distort the nation’s history of racial oppression and discrimination, the silencing of Black voices in classrooms, the dismantling of affirmative action and diversity, equity and inclusion policies are part of a coordinated campaign to preserve systemic inequality.”

According to the report, the practice of moving the goalposts for the exercise of Black economic freedom is resurging, as it was during antebellum-era America. “Starting in 1865, lawmakers sought to bring an end to the pernicious effect of racism that had devastated the country. Congress enacted several constitutional amendments designed to give social, political, and economic power to Black Americans for the first time in United States history. But before the ink had dried on the Civil War Amendments and the law could carry out its remedial purpose, opponents to opportunity began carving away at protections that would have granted economic freedom and fairness to citizens who had historically been deprived.”

The report continues, “Recent legal challenges have targeted programs aimed at alleviating the obstacles faced by marginalized communities, particularly those designed to promote equity in entrepreneurship. As these efforts seek to dismantle affirmative action policies, it is even more important to shed light on the realities faced by entrepreneurs of color. It is imperative that the public, experts, advocates, and policymakers are armed with current data on the state of Black businesses in America.”

The goal of the report is to provide an analysis with strategies can be implemented that can “catalyze informed policymaking, advocacy efforts, and targeted interventions aimed at reversing systemic barriers and fostering a more equitable entrepreneurial ecosystem.”

RELATED CONTENT: This 4-Point Call To Action Could Increase Capital For Black Women Entrepreneurs

Source: Black Enterprise

Myeshia Mizuno Makes History as First Black Woman to Run a Primetime Game Show

Nationwide — Myeshia Mizuno has made history as the first Black woman to lead a prime-time game show, taking the reins at Family Feud....

Black Teacher Wins NYC Housing Lottery, Pays $881 a Month For 1-Bedroom Apartment

Nationwide — Nahjae Olin, a 26-year-old African American woman from the Bronx, New York, has won a spot in the NYC housing lottery and...

Miracle Baby Given 1% Chance to Live After Birth Turns One Year Old

Nationwide — Tripp Abney, an African American baby from Chickasaw, Alabama born at just 21 weeks, recently marked his first birthday. He was initially...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest

Newsletter

Don't miss

Myeshia Mizuno Makes History as First Black Woman to Run a Primetime Game Show

Nationwide — Myeshia Mizuno has made history as the...

Black Teacher Wins NYC Housing Lottery, Pays $881 a Month For 1-Bedroom Apartment

Nationwide — Nahjae Olin, a 26-year-old African American woman...

Miracle Baby Given 1% Chance to Live After Birth Turns One Year Old

Nationwide — Tripp Abney, an African American baby from...