As we enter the first Friday of Black History Month, Maria More wanted to take some time to drop some ways we can continue to try and close the equity gap.
We’re aware of a lot of these financial statistics, and know that Black-owned businesses need our support in changing this. Sometimes though we don’t always have that extra income, which makes us believe we can’t support a business, but Maria wants to share a few ways that you can do such a thing without needing to dig too deep into your pockets.
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“Just about 2% of businesses with employees are Black-owned and that has played a big part in widening the racial gap here in the US,” she explains. “Now, Black households make up nearly 16% of the US population, but hold under 3% of overall wealth and we hear all the time we see these big businesses marketing the Black folks. We’re spending all of the money, but we aren’t maintaining the wealth.”
Because of the difficulties for Black entrepreneurs to even obtain the loans needed in order to start their business, support from within our community is even more vital.
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Listen to the full breakdown this morning from Mind Body & Business on the Rickey Smiley Morning Show!
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