Through our Business Ownership initiatives, Breaking Barriers to Business and Business Starts and Growth, Living Cities aims to increase the flow of capital to businesses owned by members of historically marginalized communities by funding culturally responsive ways of assessing risk and allocating capital.
This is particularly true for historically underserved and overlooked populations who continue to face systemic barriers that prevent them from starting and growing businesses at the same rate as their white counterparts.
According to our research with the Urban Institute published on March 15, 2023, which highlights data from the US Census Bureau’s Annual Business Survey, Black and Hispanic/Latino-owned businesses make up only about 2% and 6% of all businesses, respectively, whereas white-owned businesses make up more than 80%.
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