Heard on the Street – here’s what we were reading last week:
Black In Business: Celebrating the Legacy of Black Entrepreneurship: African-Americans have played a profound role in shaping the U.S. business landscape. Technological innovations like the traffic light, automatic elevator doors and even caller ID all sprung from the minds of creative black luminaries.
From 25 Cents to $25,000 and Beyond: How 15 African-American Entrepreneurs Funded Their Businesses: Funding a business is rarely easy, especially for black entrepreneurs. A study by the Ewing Marion Kauffman Foundation found that new black-owned businesses start with almost three times less overall capital than white-owned businesses. Black entrepreneurs have pushed forward regardless of these obstacles.
Five-star reviews, one-star profits: The devaluation of businesses in Black communities: Among other important findings, the report finds that highly-rated businesses in Black-majority neighborhoods experience annual losses in business revenue as high as $3.9 billion.