In the United States alone, there are nearly 2.6 million small black-owned businesses, according to the Census Bureau. His organization conducted a study in 2018 that sent Black, white and Latino men into Los Angeles-area banks to inquire about small-business loans under $100,000 to test whether there were differences in treatment by race.
Black businessmen generally were more conservative elements of their community, but typically did support the Civil Rights Movement By the 1970s, federal programs to promote minority business activity provided new funding, although the opening world of mainstream management in large corporations attracted a great deal of talent.
The unemployment rate of blacks in 1976 was at 13.2%, whites were at 7%. Today Black unemployment they say averages at 9.6% with whites at 4.8%. Home ownership for blacks was 43.7% compared to whites at 67.6%. Due to the recent recession of 2008, blacks were hit harder in this most important category.
Martinez has over 12 years of experience working in economic development and business consulting. The digital platform Official Black Wall Street has previously hosted black business crawls where attendees visit brick-and-mortar black-owned businesses in certain cities during the holiday shopping season.
Just 4% of business owners are Black That was before the pandemic, which has disproportionately affected Black people in almost every way, both health-wise and economically. Beyoncé and Zerina Akers have created an extensive resource for consumers to shop from Black-owned businesses.