GRCC

Black-Owned
Businesses Deserve
Recognition
BA 201

Bryonna Clarke
12-7-2023
 Grand Rapids Community College- Business Communications

To: Ann Alexander, Professor

From: Bryonna Clarke

Date: 12/7/ 2023

Subject: Struggles of Black-Owned Businesses

Here is my formal written report on the struggles of black-owned businesses in America, due on
December 10. The project required me to perform secondary research on the main points related to the
subject matter.

The report focuses primarily on the struggles people of color encounter when owning a business. It
includes information about how the history of racial discrimination, along with some of the impactful
events like the Jim Crow era and the civil rights movement, affected African-American business owners
in the past. It also discusses how historical conflict has shaped business ownership for people of color
today. The research also examines the setbacks that entrepreneurs of color who want to or already own
a franchise witness. Because it is such a fundamental problem in the business world, information has
been collected and analyzed on different solutions that benefit Black entrepreneurs planning or already
operating their businesses.

The information on this topic will help us better understand why there are limited Black-owned
businesses in the United States today. Also, it will give us ideas on how we can help current companies
reach high-level success.
Contents
Grand Rapids Community College- Business Communications..................................................................... 1
Executive Summary ....................................................................................................................................... 3
Purpose of the Study ..................................................................................................................................... 4
Scope of the Study ......................................................................................................................................... 4
Definitions ...................................................................................................................................................... 4
Methods of Research ..................................................................................................................................... 4
History of Racial Conflict: ............................................................................................................................... 5
Current Issues Leading to Less Minority Businesses ..................................................................................... 6
Skill Deficiency ............................................................................................................................................... 9
Solutions to Business Provocation ...............................................................................................................11
Summary ......................................................................................................................................................13
Conclusions ..................................................................................................................................................13
Recommendations .......................................................................................................................................14
References ...................................................................................................................................................14
 Executive Summary
The report addresses why many black-owned businesses do not last and struggle to continue their
operation. The issue is that a lot of African-American establishments aren't as successful due to the lack
of support they are getting from community members. The problem is due to a lack of understanding of
the unique struggles of minority-owned businesses and a lack of access to resources.

Because this is an analysis project, my professor has required secondary research. Locate sources
related to the main points, such as historical events impacting business ownership today, the struggles
of black businesses in modern society, and the lack of skills and resources to assist entrepreneurs of
color who remain behind. It also involves reading and annotating sources and providing information on
each subject to get all the necessary answers.

Systemic racism influences the economy and ownership today based on the information collected. Black
enterprises still face negative trends, such as resource inequality and financial hardships, which need
primary research. Some recommendations that can help reduce these negative trends are to start
programs that target disadvantaged entrepreneurs where they can get equal access to resources.
Additionally, business ownership and financial literacy courses should be offered for free.
 Introduction
Businesses and companies owned by minorities struggle to reach high success because they do not get
enough attention and support. The business industry is changing as time passes, and it is troubling to
those who either hope to start a company or already have a company that is operating.

Purpose of the Study

This research project aims to dive into what types of problems businesses owned by people of color in
the United States deal with.

1. How has the history of racial conflict impacted African-American entrepreneurship?

2. What current setbacks do Black-owned businesses witness for them not to last?
3. What required skill set and knowledge do entrepreneurs of color lack?

Scope of the Study

Research focuses on the development and the spirit of business ownership and the skills and space for a
company to become successful. However, the focus is primarily on African-American business owners
and entrepreneurs. The plan is to research principally the setbacks entrepreneurs face when promoting
and expanding their company brand and analyze research experiments about the strengths and
weaknesses within skill sets compared by two races.

Definitions
minority- a group of people in society who are different from the rest due to their race, religion, political
beliefs, or a person who belongs to such a group (Britannica).

Capital- money needed to start a business venture

Annual Business Survey (ABS)- gathers and analyzes survey research to produce data on business
ownership (Investopedia, 2023).

Paycheck Protection Program (PPP)- An SBA-backed loan that helps businesses employ their workforce
during the COVID-19 crisis (SBA, 2021).

Methods of Research
I conducted secondary research for this project. Analyzing scholarly journals and credited articles
regarding the status of African-American-owned businesses is part of this process. The research will
focus on entrepreneurship in the historical era and compare that to modern-day society. There will also
be an analysis of government sources focusing on the regulations companies must follow.
 Findings
History of Racial Conflict:

OVERVIEW

Racism has been our top major social problem that has plagued our society for centuries. From slavery
to the present day, the historical root has continued to impact people of color even though it is ruled
illegal. During the early 1900s, racial tensions created an impact on African Americans, and so did it
affect entrepreneurs of black descent who owned companies.

RACIAL TRAUMA

After the Civil War, slavery was deemed unconstitutional, and African Americans were considered free.
They could locate areas to colonize, establish businesses, and feel at home. Racism began to develop as
blacks settled and developed their small businesses. Racism and other forms of discrimination became
acceptable as Jim Crow gained popularity. As a result, these scenarios applied weight to black-owned
companies, which faced challenges that could negatively impact their chances of success and earning a
living. Racial restrictions, intimidation, and harassment by white supremacists are examples of such
challenges. As a result, they were willing to obliterate black entrepreneurs' economic success, including
limiting their economic power and competitive opportunities (Gold, 2016). A few examples of these
buildups include the Atlanta massacre of 1906 and the Tulsa massacre of 1921.

Atlanta Massacre (1906)- The dreadful event occurred in the Brownsville neighborhood in South
Atlanta. Despite Jim Crow expansion in different parts of the South, there was knowledge that the
African-American population continued to increase drastically. Feeling threatened by this information,
the media made a false claim about black men assaulting white women. Outrageous by this made-up
story, they began to take action and start a riot. White male mobs began attacking black residents, along
with destroying housing units, schools, and businesses, including a barbershop owned by Alonzo
Herdon. More than 250 black men were taken into custody, while the white men who orchestrated the
madness were not brought to justice (Kuhn & Mixon, 2005). White supremacists killed more than
twenty-five people in the attack. There was little left for African Americans after the event. As a result, a
depression developed in the community and the economy in Atlanta (Kuhn & Mixon, 2005).

Black Wall Street Massacre (1921)- The Greenwood District in Tulsa, Oklahoma, was home to several
African Americans. The businesses were mostly black-owned, such as churches, libraries, news
companies, and other types of establishments; however, the environment was not going to last long
after racial tensions began igniting where false accusations of an encounter between a white woman
and a black man. There was a rumor that a Black man, Dick Rowland, sexually assaulted a white woman
named Sarah Page, which was not valid (Ellsworth, 2019). The made-up story facilitated conflict
between black and white men, where some wanted justice while others wanted protection. The chaos
began to break out, and white supremacists formed together as a mob and attacked the Greenwood
area. Fires would start at midnight near the edge of the black businesses within the district. As African
Americans fought back, White Americans outnumbered them, and they either killed or detained them.
There were air vehicles that flew around the area, where they would drop bombs on businesses, homes,
and people who attempted to flee the scene. Nearly 400 people died, and 1400 homes and businesses
were extinguished (Gold, 2016). Approximately 10,000 African-American civilians were left homeless
(Brown, 2021).

These horrific events spread fear and terror amongst ambitious people of color who wanted to rely on
themselves and build their wealth.

L ATE JIM CROW /CIVIL RIGHTS E RA

Jim Crow laws also limited African Americans who had operational businesses in place. The expansion of
racial segregation has forced white companies to compete with black firms and use their privileges to
put minority-owned establishments in their rightful place. Additionally, they have dominated the black
consumer market, causing them to fall to the lowest level possible. (Gold, 2016). Not only did they
restrict entrepreneurial success, but property discrimination was equally a negative factor where
minority businesses had to move their locations and operations into urban low-income neighborhoods
with limited resources.

Additionally, "...urban renewal programs often destroy existing black-owned businesses by leveling
neighborhoods and failing to provide resources when new locations open." (Gold, 2016, p. 1688)—
resulting in a widening of the wealth gap between white and black Americans and a decrease in
economic mobility. These issues led to black businesses becoming more limited as urbanization became
a trend. These historical events continue to impact modern-day society as there are still some issues
where developing black-owned firms struggle to thrive even though segregation is immoral.

Current Issues Leading to Less Minority Businesses

In this current era, some black businesses are developing in the United States. However, the amount of
these establishments owned by minorities is spread thin. There are many different reasons why African
Americans a.) do not take an interest in entrepreneurship and b.) do not last as long as our popular
franchises. Some of them include dealing with financial hardships, having a lack of support and
resources, and having to deal with racial bias.

RACIAL DISCRIMINATION

Discrimination occurs everywhere, especially in business settings. Furthermore, African-American

business workers and entrepreneurs experience more scrutiny and unequal treatment than their white
counterparts. Discriminatory factors include limiting equal opportunities to expand their business and
gain recognition. Moreover, they received access to fewer resources than other races that can help
establish and maintain their business. Resource disadvantage theory argues that groups with limited
resources are less likely to reach capital levels in entrepreneurship (Wingfield & Taylor, 2016). If the
theory were to apply to African Americans, they would be less likely to get acquitted for business capital,
which can lead to their businesses making less to none, increasing the racial wealth gap (Perry et al.,
2022).

Encountering Racism- There is no denying that as a business run by people of color, they are likely to be
a target of racial discrimination. Rivea Lesonsky has informed that 79% of Black owners have dealt with
racial bias while 48% of black entrepreneurs dealt with drama face to-face with a racist customer in the
past (Lesonsky, 2023). Maintaining a certain standard point or making a first impression without being
targeted, judged, or ridiculed in a prejudiced manner is challenging. That is why many people focus on
building a business image to gain more attraction to their establishment. Lesonsky explains that 82% of
African Americans who run a business try to behave differently to blend in and avoid stereotypes
(Lesonsky, 2023). Despite trying, they still face prejudice and judgment.

Financial Discrimination- Black-owned businesses are often discriminated against by monetary

companies, which oversee the provision of financial resources. The problem is that the
underrepresentation of African-American corporations is due to structural barriers to racial bias in the
past (Perry & Romer, 2020). In other words, historical events involving racial tensions have shaped the
business economy and the industry altogether. The following changes impacted the financial process
when top banks turned away African American business owners in 4 different biased ways (Atkins et al.,
2022):

1. application denial

2. discouraging borrowers

3. demanding premium prices

4. supplying lower credit

The 2014 Annual Survey of Entrepreneurs explains that 53% of Black firms were denied loan access
compared to white applicants, which is 24.7% (Atkins et al., 2022). Banks are willing to set a standard for
black-owned businesses where they set them up to fail and expect them to deal with profitable woes.

• Capital- Capital aims to help owners start their companies more efficiently. That includes having
the tools and space needed to build and operate their establishment. Access to business capital
is complicated for African Americans as they (1) get less money provided in business capital than
others and (2) get their capital request turned down by banks under the federal government.
Despite having exemplary or adverse credit, African Americans are likely to be denied access to
business capital, such as start-ups and ventures (Atkins et al., 2022). Nevertheless, that does not
mean it happens to all minorities; banks are willing to make exceptions. Despite this, they still
put a limit where they give African Americans less capital than their white counterparts to keep
the racial gap from shrinking and to increase the number of black businesses that fail. A
comparison shows that 8.1% of Black businesses require a $25,000 start-up versus 15.7% of
white enterprises (Fairlie & Robb, 2007).

Competition- The importance of business competition is knowing where a company stands and who its
competitors are. Firms can improve business brands and gather consumers through competition. A
business expert can eliminate minority-run franchises and manipulate others out of
competition. Competition is one-factor causing black-owned companies to decline. Using Milwaukee as
a case study, researchers examined how black businesses are overshadowed by competition. An
interesting fact about racial competition in business is that large corporations have an advantage over
African American franchises in their dominant neighborhoods (Bonds, 2007). In Milwaukee, companies
owned by overly competitive immigrants undermine black businesses (Bonds, 2007). If Milwaukee
exhibits fixed competition, it is likely to occur nationwide.

FINANCIAL HARDSHIPS

Financial stability is another barrier African American enterprises face. Business owners struggle to get
more funds because people refuse to invest. Their racial or ethnic status and credit history also lead to
bank loan rejection. The wealth gap between blacks and whites is widening due to income inequalities
from banks. There is also an extreme wealth gap disparity between white and black families.

Small Payroll- Black businesses often have minimal compensation amounts for their employees. The
problem is due to the limited income made during a company's operational period. The amount of
money made dictates the number of employees hired and paid out. Compared to working for large
companies, not many employees get a proportionate amount of money when working for minority small
companies. Black businesses struggle to provide competitive wages, benefits, and compensation
packages. A Pew Research study describes that approximately 66% of African-American firms had less
than ten employees vs 14% reported 10 to 49, and 3% had 50 or more (Leppert, 2023). The number of
employees in a small business directly impacts the amount of money given to each employee. With
fewer employees, each one must bear the burden of running the business, which can lead to lower
wages and fewer benefits.

Financial Vulnerability- It is more likely that black-owned businesses will experience financial difficulty
because they are likely to have high expenses and limited economic resources. As a result of a lack of
access to capital, the issues with unequal access to financial sources and a small payroll put them in an
unfavorable position where they will be unable to recover from their debt over the long term. The
Coronavirus has also played a role in causing black firms to be hit harder due to being financially fragile
to their white counterparts (Atkins et al., 2021). Such impacts have led to black-owned businesses
shutting down permanently.

Covid-19 Impact- Covid-19, while contributing to the economy's decline, has also put African-American
establishments in a nutshell. Among all races, they had the highest percentage of financial turmoil
during the Brookings survey on small business credit. There is a 92% financial burden on black
businesses due to Coronavirus (Perry et al., 2021).

Before the pandemic, there have been problems associated with limited support. It is estimated that the
Coronavirus closed establishments and quarantined everyone, resulting in reduced profit flow into black
franchises. Additionally, they are not receiving adequate financial coverage, causing more economic
damage and increasing their debt levels.

• Paycheck Protection Program- During the Coronavirus epidemic, the Paycheck Protection
Program (or PPP) aims to relieve businesses impacted by the pandemic. It involves financial
loans for small businesses for payroll and other expenses. The federal government created the
Paycheck Protection Liquidity Facility to increase access to PPP and other forms of recovery
credit (Atkins et al., 2021). However, despite their efforts to provide PPP benefits to struggling
companies, black-owned businesses remain at a lower point, where they are underserved or
given a limited amount. The government gave black companies less than 50% PPP benefits than
non-black establishments (Atkins et al., 2021).

L ACK OF SUPPORT AND OPPORTUNITIES

How do black-owned businesses and franchises have limited support from their local communities?
There are structural barriers to systematic racism that cause African Americans to be subject to harsher
restrictions that may limit their ability to advance their brand. A lack of mentoring in the African-
American community often leads to business owners being ill-educated in business practices.

Employee Support- The importance of employment is not just that people working for your company
are willing to work for an establishment because they support your cause in any way or form. They're
also the ones that are building your brand's image overall. For black enterprises without employees, no
support can help develop their company's reputation. Black businesses only acquire a few people due to
having limited profit. On average, they would hire roughly 0.63 of their employees (Farlie & Robb, 2007).
On top of that, 11.3% of black companies hire people compared to approximately 21% of white
companies (Farlie & Robb, 2007). In this case, there is an employment gap where the standard of
business can financially limit the number of employees to hire.

Networking Opportunities- Networking is critical not just in the business world but for any career field
of interest. That is where discovering opportunities comes into play. When people gain experience from
an activity they have been in, they may have that group as their resource. That is because they have
networked connections with them in the past. The problem with networking is that African Americans in
the business world have limited opportunities due to a lack of resources and representation, along with
biased perceptions. Therefore, they do not have anyone to provide them with advice and support. These
factors make it difficult for African Americans to network with the right people, resulting in poor
business choices (Baboolall et al., 2020).

Skill Deficiency
Before starting a business, black entrepreneurs often overlook that they lack the necessary skills to
achieve their goals, putting them under much stress. Such skills include financial management, business
education, and communication skills.

FINANCIAL MANAGEMENT
Any occupation in the business industry requires a firm grasp of financial management. Financial
literacy, investment background, and budgeting skills are needed to succeed. It is easy for
predominantly minority-owned businesses to become insolvent without these essential skills.

Financial Literacy- Financial literacy is understanding the basics of managing your money. It is the key to
avoiding risky investments, budgeting, and making proper financial decisions. Unsurprisingly, "…the gap
of financial knowledge between African Americans and whites can partially be attributed to the
underlying demographic differences between the two groups" (Richardson and Fortson, 2021). The low
level of financial literacy among African Americans guarantees that entrepreneurs of color are a part of
this group. Erin Perkins' report describes that 38% of African Americans have high financial literacy
compared to 55% of non-black Americans (Perkins, 2023). This lack of financial literacy is a barrier for
African Americans when starting a business or investing. It also leads to African Americans having fewer
opportunities to build wealth and secure their future. Therefore, African Americans need to have access
to financial literacy education.

Investment- Investing in a business helps keep it afloat and prevents it from going bankrupt. Minority
businesses rely on investments to expand without financial obstacles (Perry & Romer, 2020). The reason
is primarily because only some African Americans possess background knowledge or experience in
investing. Figure 7 of the TIAA Personal Finance Index, which Erin Perkins refers to as a secondary
source, provides evidence to support this statement. Only 35% of African Americans are knowledgeable
about investing compared to 52% of white Americans (Perkins, 2023) and (Yakoboski et al., 2020).

As the informative statistic indicates, African Americans who attempt to become business protégés face
significant difficulty, knowing that having limited investment knowledge puts them already at the deep
end. This lack of investment knowledge impacts firms when African Americans attempt to become
business professionals, as many lack the skills to invest and grow their businesses correctly.
Consequently, this puts them at a disadvantage for competing and succeeding in the business world.

Budgeting- Budgeting is a crucial skill for black entrepreneurs to track their spending and plan for their
future. Budgeting also helps entrepreneurs make informed decisions and prioritize their expenses. This
skill is very deficient for African Americans due to a lack of financial literacy and access to resources. Not
knowing how to budget in a business setting could lead to overspending and decreased profits.

E DUCATION

Education is an open door to getting jobs, such as business CEOs and other occupations involved in a
business setting. Earning a degree in entrepreneurship will benefit those who aspire to become
successful business owners. Entrepreneurs with limited knowledge have adverse outcomes with their
establishment (Fairlie & Robb, 2007). African Americans lack the essential skills needed due to limited
access to educational resources. The reason is that racial and class disparities are holding them back
from acquiring the necessary skills that can help them achieve business success (White & Golden-
Vazquez, 2023).

COMMUNICATION

One of the most critical aspects of building a robust professional character when running a small
business is having excellent communication skills. The purpose of this is to establish decent relationships
with employees of the community and members of business committees. Not many entrepreneurs of
color were taught decent communication skills and lacked proper language, and they did not see a
difference between formal and informal transmission.

Customer Service- African Americans often have limited customer service skills. The limitations of this
ability may be due to not teaching them proper communication skills or not having much experience in
the working world. As a result, some companies do not hire minority employees to satisfy customers
with biased attitudes toward people of color (Laouenan, 2018). African Americans may also have less
customer service skills because of racism and discrimination. Negative stereotypes about African
Americans have created an impact on society, making it difficult for African Americans to find and
maintain their customer service jobs. This lack of access to customer service opportunities can further
limit African Americans' skills.

Solutions to Business Provocation

As people lost hope of recovering from damages impacting black establishments, some business owners
decided to take matters into their own hands. They came up with ways to overcome adversity and
tackle these challenges head-on. Some black-owned businesses have started to form alliances, engage in
networking, and use strategic marketing to help them stay afloat.

E FFECTIVE A PPROACHES

Bootstrapping Approach - they rely on their own personal finances and small investments to start their
enterprise (Wingfield & Taylor, 2016). This approach is beneficial as it allows them to launch their
enterprise quickly without relying on external investors. However, it can be risky, leading to financial
difficulties if the business is unsuccessful. Furthermore, attracting more prominent investors at a later
stage can be challenging.

RESOURCE A CCESS

Education Access- A mentor with business experience would benefit those wishing to own businesses.
On top of that, getting a certification and a business major will also give African Americans access to the
tools needed to succeed in the business world. Education for black entrepreneurs should include access
to mentors and resources specifically tailored to African Americans. Provides access to training,
mentorship, and networking opportunities to help African Americans gain the experience and practical
knowledge necessary to become successful business owners.

Financial Access- Business owners of color deserve equal financial access to capital and loans needed to
establish their brand. Black businesses underserved by non-stream banks could get loans from non-
streaming banks like Uwharrie Bank (Perry et al., 2021). Also, the U.S. Treasury helped black companies
by investing $9 billion in the emergency capital investment program (Perry et al., 2021). This investment
allowed black companies to access capital, receive loans, and build their brands.

Opportunity Access- Opportunities include programs targeting all races interested in business
ownership, including people of color. Develop leadership, mentorship, and professional development
programs. Establish partnerships with businesses that support entrepreneurs of color. In addition,
educational programs teach the skills and knowledge entrepreneurs need. Some students who plan to
go to college soon might want to start a business or become entrepreneurs. Entrepreneurship classes
should be offered in high schools. They can benefit from courses like these because they already know
the material. They can put it to use in college and continue building skills.

Resource Opportunities for Black Entrepreneurs:

1. Black Business Alliance- The organization provides training opportunities, assistance, and tech
networking to small and medium establishments (Humphrey, 2023).
2. Accion Opportunity Funds (AOF)- the AOF provides business loans, education, mentoring, and
other resources. AOF also supports entrepreneurs from diverse backgrounds; it assists
entrepreneurs in establishing long-term, sustainable businesses. They also provide access to
capital, technical assistance, and other resources to help entrepreneurs succeed (George, 2023)
& (Humphrey, 2023)
3. National Minority Supplier Development Council (NMSDC)- The NMSDC helps black businesses
gain access to opportunities that can help expand their brand and their audience (Ludwig, 2020).
Thus, the NMSDC is an essential tool for minority businesses to achieve success in the
competitive business market.

A S A COMMUNITY

As a community, supporting minority establishments is like investing in leading franchises like Chick-fil-
A, McDonald's, Macy's, and other big companies. People should recognize that minority-owned
businesses have the potential to become successful big businesses.

Shopping- Be a customer and try their services to evaluate their establishment.

Promoting- Promoting black brands will help expand the brand and give them more opportunities
and platforms to promote

Sponsorship- Sponsoring a brand will help them gain recognition, resulting in more supporters and
consumers.

Word of Mouth- Communication is critical. Spread the word to someone you know in your circle,
such as family members, mentors, friends, and colleagues. Putting the word out will encourage
people to try out a company.

Analysis
Summary
After researching why black-owned businesses are very limited in America, we found some
answers and discovered why there aren't a lot of African-American companies and why some that are
even developing are struggling.

The need for franchises and establishments owned by African Americans in the United States is
prevalent. Despite some being in business, they may only operate for a short time. One reason is the
lack of support from financial companies and communities. Black business owners often face financial
difficulties such as limited loan access, small pay, and lack of capital. The history of racism has influenced
business ownership in the modern day, where discriminatory practices are standard in the business
industry. African Americans are likely to experience monetary discrimination from banks, where they are
denied business capital and other forms of financial support, in marketing, where competition increases,
and in person. They also lack the knowledge and skills to run an establishment, such as financial literacy,
professional communication, and networking.

Despite these issues, damaging ownership for African Americans, some solutions can help them
overcome the adversity they are encountering. Giving them equal access to resources, including
business capital, will help level the playing field for all business owners and promote equality in the
business world. Additionally, providing access to mentorship and educational programs can help African-
American entrepreneurs develop the skills and knowledge they need to succeed in business. Finally,
creating a network of community resources, such as business incubators and accelerators, can help
African-American entrepreneurs launch and grow their businesses.

Conclusions
• Historical characteristics, including racism, shape the way business ownership functions, where
they put a limit on black enterprises.
• Black-owned Businesses struggle to operate due to discriminatory factors in communities,
financial industries, and marketing.
 • These inequality factors have caused African Americans to have high financial debt, limited
opportunities, and the likelihood of closing down their business.
• Due to having limited access to business capital and other types of loans, black firms rely on
their income to start their enterprise.
• Having unequal access to education is also a primary factor in black-owned businesses falling
off.
• The communities began to involve themselves by starting programs for all races to teach
entrepreneurship and financial management to those interested in business ownership.

Recommendations
Based on the information discovered, it is crucial to use that information to continue to build upon the
subject along with coming up with different ideas to close the racial gap:

• Conducting primary research on what kind of negative trends are still affecting minority
businesses
• Organize a program that will help current business owners from disadvantaged
backgrounds gain access to economic capital
• Provide educational opportunities to benefit people of all races interested in a business
career.
• It's also crucial that we support these businesses as a customer.
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