Black-Owned Businesses Face Ongoing Systemic Challenges Despite Growth

Black-owned businesses in the United States continue to face significant challenges despite a boost in growth during the pandemic and the 2020 social justice movements. According to a recent Brookings Institution report, the number of Black-owned businesses remains disproportionately low compared to the population size.

While the past few years saw an inspiring uptick in sector growth, external pressures like gentrification and systemic generational disadvantages continue to hinder progress. These obstacles make it harder for Black entrepreneurs to sustain and expand their businesses, highlighting the need for more supportive measures and equitable opportunities.

CGTN’s Poppie Mphuthing sheds light on the persistent barriers and what can be done to support Black-owned enterprises in thriving within competitive markets.

Reference(s):

Black-owned businesses still face systemic disadvantages

cgtn.com