Feb 25, 2021
Inequities in wealth, access to capital, and support networks contribute to significant disparities in entrepreneurship start-up and success for women and racial and ethnic minorities relative to White men. Policies to rectify these inequities could improve wealth accumulation among these groups and revitalize the communities around their businesses, promote equality of opportunity, and boost economic growth.
There are significant disparities in entrepreneurship start-up and success for women and racial and ethnic minorities relative to White men. These differences are due, in part, to significant inequities in accumulated wealth, access to capital, and the development of valuable networks that provide mentorship and support. Rectifying these inequities represents a significant opportunity: More-effective entrepreneurial support has the potential to improve wealth accumulation among these groups, revitalize communities where minority business owners are located, and boost economic growth by unlocking the talent of would-be entrepreneurs.
By crafting targeted and thoughtful policies to enhance entrepreneurship among these underrepresented groups, policymakers would be promoting equality of opportunity while lifting up the economy as a whole.