Based on the SBA Office of Advocacy, the United States has more than 30.2 million small businesses that comprise of 99.9% of all US businesses. Over the 10 years, minority businesses have accounted for more than 50 percent of the two million new businesses started, creating 4.7 million jobs and annual sales totaling close to $700 billion.
According to a paper published by the National Bureau of Economic Research (NBER) in 2020, the global corona virus pandemic dealt a major blow to a large number of African American businesses owners, which fell from 1.1 million in February down to 640,000 in April, and creating a 41% decline in Black owned businesses. Add an additional lay of limited financial resources and being overlooked or blocked to competitively compete in all industries sectors nationally and globally, and you have a formal that can set back an entire race by 20+ years.
By identifying three pillars that affect millions of African Americans every year, we will work with industry leaders, professionals, residents, communities and corporate partners, to help address the issues of systemic racism and the lack of property ownership, business opportunities, financing, and job growth, within the real estate industry.
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“”Where there is no vision, there is no hope.”
- George Washington Carver