Many Black People & Millennial Women Are Building Businesses – Here’s Why

By Victor Trammell

Nowadays in America, the entrepreneurial spirit lives within a more diverse group of people than it did in previous decades.

For a long time, white males represented nearly the totality of all America’s entrepreneurs and business owners. However, the U.S. Census Bureau released data in September 2016, which showed the prelude to a paradigm shift among the demographic of today’s business people.

In a June 8th online article from Forbes Magazine, writer Anna Johansson gave a further elaboration of the data published in the U.S. Census Bureau’s 2016 report about entrepreneurship. Johansson also references a substantive annual report by the Kaufman Foundation.

In the U.S. Census Bureau’s report, a baseline for progressive entrepreneurship was given, which explained the state of diversity among America’s business people as of late 2014.

“At the end of 2014 there were 5.4 million businesses, and only 17.5%  of them qualified as minority-owned—even though African-American, Latino, Asian, and other minority populations represent more than 38% of our country,” Johansson wrote.

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