Between 2007 and 2012, privately held minority businesses contributed 1.3 million jobs to the American economy. America is currently forgoing an estimated 1.1 million businesses owned by people of color. These missing businesses could produce an estimated 9 million more jobs and boost our national income by $300 billion. Expanding entrepreneurship among people of color is an essential strategy for moving the country toward full employment for all, the authors say. They cite the U.S. Census Bureau’s Survey of Business Owners (SBO), which is conducted every five years. The most recent surveys are from 2012 and 2007.
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WHY THE RACIAL GAP AMONG FIRMS COSTS THE U.S. BILLIONS
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