Starting a business is hard for anyone, but it comes with additional challenges for BIPOC founders. Both the cost and lack of access to capital take an outsized toll on BIPOC-owned businesses, according to a report from the Ewing Marion Kauffman Foundation. Around 16% of them report being negatively impacted by these factors, compared to only 10% of non-BIPOC-owned businesses. Black entrepreneurs experience the brunt of these effects.
A number of funding sources have emerged with the goal of closing this gap and making entrepreneurship more equitable. If you’re an entrepreneur of color, peep these eight funding sources for BIPOC businesses.
Published: March 30, 2021
Founder & Interim Editor of L.A. Cannabis News