The good news: More entrepreneurs are starting ventures in majority black areas, according to a study by the Alliance for Entrepreneurial Equity. The study found a marked surge in entrepreneurial activity in areas with a majority of black residents. New business applications in majority black areas increased by 103% from 2019 to 2021 compared to 54% nationally, and were about 3.5 times higher in 2005.
The study gives a number of reasons for this trend, including:
· More government financing
· Greater necessity, even with pandemic relief
· Can these ventures be the foundation for the development of growth ventures?
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