African American Entrepreneurship Development

African American Entrepreneurship Development Program

            From a critical standpoint, African Americans are much less likely to own their businesses than Whites. This means that there is a higher number of Whites who are entirely self-employed as opposed to Blacks. Statistically, while 15% of White men are entrepreneurs in the United States, only 6% of African American men are self-employed (Sanghi et al., 2022). This represents a 150% variance. However, this data varies with age. For instance, in their study, Sanghi et al. (2022) found that at age 25, men who are from the White racial group were approximately 3.3% more likely to own their business than African American men of the same age. On the other hand, by the age of 58, the above gap widens, with 6.8 percent of African American men and 18.9 percent of White men being entrepreneurs (Sanghi et al., 2022). The same trend is observed among women, whereby 2.7% of African American women own their business, compared to 6.2% of women who belong to the White racial group (Sanghi et al., 2022), representing a 130% variance. From this data, one can deduce that African Americans are disproportionally represented in exclusive self-employment……Read more