Expand Entrepreneurship Among People of Color
On February 12, President Obama will share his agenda for the next four years in his State of the Union. On February 4, PolicyLink presented its policy agenda to build an equitable economy using principles that grow good jobs, build capacity, erase barriers, and expand opportunity. As the State of the Union nears, we will share our principles daily. We urge you to adopt and share these principles or suggest others on Equityblog.org. For more principles and coverage of the February 4 event, go to Equity and the Future of the American Economy.
Expand entrepreneurship among people of color. Because entrepreneurs of color are more likely to hire people of color and locate their firms in communities of color, fostering their startup and growth can create more job opportunities for the groups who need them the most while bolstering the economy. But these entrepreneurs face significant barriers to accessing the capital, information, and training needed to launch, sustain, and expand successful enterprises as well as succeed in high-growth areas of the economy. Federal programs that make capital available such as New Markets Tax Credits and Small Business Administration loans should better target new, minority-owned businesses to provide fair access to credit and foster business growth and development.