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.
California’s economy in 2018 ranks as the fifth largest in the world – larger than the UK, India, France, Brazil, Italy, Canada, Korea, and Russia.
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 report is based on research findings from focus groups and interviews. The focus groups were conducted with LMI individuals in Philadelphia, Chicago, Los Angeles and San Diego, and the interviews were done with policy experts, regulators and representatives from the financial services sector. In sharing their experiences with the financial system, we have identified common challenges encountered by LMI consumers of color, and offer recommendations to address on-going barriers to financial inclusion.
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)
America’s credit reporting system is controlled by 3 big, for-profit companies—Experian, Transunion, and Equifax—which collect lending and payment data on 220 million Americans. They collect this data without consumers’ permission or approval, there is no way for consumers to opt out, and consumers must pay to access their own scores.
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.