Better-qualified black and Hispanic testers who shopped for small business loans at Los Angeles area bank branches were treated worse than less qualified white testers, a new study found.
The study, from the National Community Reinvestment Coalition (NCRC), also found steep declines in government-backed lending to black business owners between 2008 and 2016.
This report explores ways business ownership can serve as a wealth-building tool for women, explains the systemic barriers impeding women’s ability to build wealth through business ownership, and suggests ways grant makers, policy advocates, and practitioners can intentionally promote wealth-building by entrepreneurial women through business ownership.
The MBO Partners State of Independence report presents an annual snapshot of a rapidly evolving and increasingly important component of the U.S. economy: the independent workforce. In 2019, the 9th annual report and the industry’s longest-running comprehensive study shows that the independent workforce is strong and confident.
Small businesses are essential to the economic infrastructure of both lower-income and higher-income neighborhoods. In this report, we compare small business performance in lower-income vs higher-income areas. Findings offer some directions for growing small businesses in LMI and ethnic/minority neighborhoods.
This guide gives ecosystem builders and local developers an overview of key concepts and general recommendations on how to use entrepreneurship ecosystem building to develop high-growth entrepreneurship in communities of color. The information in this guide was compiled through conversations with industry leaders, prior research and current ecosystem builders who have designed and led successful inclusive ecosystem building strategies in communities of color.
Overall California Economy• In the third quarter of 2018, California grew at an annual rate of 3.5%, which was faster than the overall US growth rate of 3.4%. California’s 2017 growth rate of 3.0% was down from the 2016 rate of 3.1%. (Source: BEA)• In February 2019, the unemployment rate was 4.2%, down from 4.3% in February 2018. This was above the February 2019 national unemployment rate of 3.8%. (Source: CPS)
In March 2019, the Office of Advocacy published a fact sheet titled “Small Business Facts: Spotlight on Women-Owned Employer Businesses”, written by Nora Esposito, Economic Research Fellow. This fact sheet highlights contributions made by 1.1 million women-owned employer businesses to the U.S. economy, as well as areas for future growth. The fact sheet also provides information on industrial and geographic diversity of women-owned employer businesses. Read the fact sheet to learn more.
The CDFI Coalition, representing the nation’s Community Development Financial Institutions (CDFIs), released a new report at a gathering of lawmakers, industry leaders and stakeholders today in Washington, DC. The report showcases 67 CDFIs’ work in revitalizing rural and urban areas across the country and their success in creating economic opportunity, jobs, and services.
Small Business Majority published a new report, California small business owners support policies to expand health coverage access and lower costs. The poll of 300 California small business owners revealed entrepreneurs strongly support proposals to bolster the state’s healthcare system, including expanding access to tax credits and addressing issues related to cost and transparency.
Nonprofit research organization MDRC and Grameen America, Inc., the fastest growing nonprofit microfinance organization in the United States, today released the early results of a research study, Microfinance in the United States: Early Impacts of the Grameen America Program. The study, funded by Robin Hood, is the most rigorous, independent, third-party evaluation of group microfinance in the United States, assessing Grameen America’s program, a microfinance model that provides small loans to low-income women entrepreneurs in the United States seeking to launch or expand small businesses.