Increased Equity for Black Businesses Promotes Job Creation, Boosts Income, and Generates Profit, According to Latest Data Dashboard
Catching Up on the Missing Piece of the American Entrepreneurial Puzzle
Black Americans show a knack for entrepreneurship, outscoring the US average on business-ownership traits, as per Brookings research. However, the road to successful entrepreneurship remains riddled with hurdles for Black business owners, such as complications with business lending and insufficient economic support.
Enter the Black Business Parity Dashboard, an innovative tool that sheds light on the economic boost cities could experience by bridging the Black business ownership disparity. This game-changing tool has been rolled out by the Center for Community Uplift.
A Game Changer in Urban Economic Equity
The dashboard, armed with the latest Census Bureau Annual Business Survey data, paints a vivid picture of the potential businesses, jobs, and revenue that could materialize if the Black business ownership rate in each metro area matched the city's Black population share.
For instance, Atlanta, in 2022, boasted over 14,000 Black-owned employer firms but fell short of parity. Had its employer businesses been 37% Black like its population, Atlanta would have over five times the current number of Black-owned employer firms — a Jackpot for Black job seekers in the area.
Empowerment through Insight
Designed for community activists, policymakers, and Black residents alike, the dashboard sheds light on local opportunities for economic justice. The tool offers a striking demonstration of what's possible and what's restricting when it comes to Black business representation.
To keep abreast of the latest trends, the dashboard will be routinely updated in partnership with the Center for Community Uplift's ongoing business equity reports.
Take a peek at the dashboard here.
Enrichment Insights:
- The Black Business Parity Dashboard is a meticulously crafted tool developed by the Center for Community Uplift at Brookings Metro. Its purpose is to reveal the myriad economic benefits of narrowing the Black business ownership gap in U.S. cities.
- The dashboard is geared towards demonstrating the positive economic outcomes that stem from tackling disparities in business ownership, particularly for Black businesses, which are often disadvantaged by issues like gentrification-driven displacement and limited financial support.
- The tool offers valuable, data-driven insights into the status quo of Black business ownership, highlighting areas where interventions can foster a fruitful outcome.
- By showcasing the need for targeted policies to support Black businesses, such as access to capital, mentorship programs, and inclusive zoning practices, the dashboard serves as a guiding compass for policymakers.
- When cities bolster Black business ownership, they can witness increased local spending, job creation, and community development, ultimately leading to more equitable and prosperous urban economies.
- The Black Business Parity Dashboard, a tool created by the Center for Community Uplift at Brookings Metro, aims to showcase the economic advantages of reducing the Black business ownership gap in U.S. cities, particularly in areas like finance and industry.
- This innovative dashboard, updated in partnership with the Center for Community Uplift's business equity reports, provides insights into the potential gains from addressing disparities in business ownership, including job creation and revenue generation, which can help improve lifestyle and social-media standards for Black entrepreneurs.
- By providing data-driven analysis on the current state of Black business ownership and highlighting areas for intervention, the dashboard serves as a useful resource for community activists, policymakers, and Black residents, guiding them towards improving business representation and fostering a more equitable and prosperous urban lifestyle.
