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Dear John,
It’s National Small Business Week—a time to celebrate entrepreneurs and their accomplishments but also to recognize that more work needs to be done to make entrepreneurship equitable for all. Entrepreneurs of color, especially Black and Latino, face systemic barriers that limit their businesses’ growth and success. Today, we’re holding a day of action, calling on Congress to break down obstacles for business owners of color and ensure that all entrepreneurs can thrive.
Small business ownership shows promise in narrowing the racial wealth gap. Businesses owned by people of color also drive economic growth—among small businesses with employees, those owned by people of color generate more than 8.7 million jobs and over $1 trillion in economic output annually. Imagine how much more our economy would be strengthened if barriers for entrepreneurs of color were removed.
Policy change can go a long way towards helping these business owners reach their full potential. That’s why we’re asking Congress to implement four solutions that will level the playing field for entrepreneurs of color:
Increase access to capital
Make technical assistance more accessible
Ensure transparency in small business lending data
Increase opportunities for business development and growth
Join us today and urge Congress to make entrepreneurship more inclusive. Access our day of action toolkit here for more ways to spread the message that all entrepreneurs, regardless of race or ethnicity, should have the chance to succeed, thrive, and better our communities.
Inclusive entrepreneurship is vital for the health of our communities and a key driver in our pursuit of racial economic equity. Let’s not wait any longer to give entrepreneurs of color the resources and support they need.
Thank you for all that you do to ensure our economy works for all,
Myrto Karaflos
Policy Manager
Prosperity Now
