Why most black owned businesses fail – Dr Boyce Watkins

Black-owned businesses, like any other enterprises, face numerous challenges that can lead to failure. Among these, systemic racism and historical economic disparities hinder access to capital, essential for startup costs and operational sustainability. Predominantly black neighborhoods often lack the infrastructure and resources, leading to reduced local market potential. Additionally, limited access to influential networks can hinder growth opportunities. Disparities in education and business training might also play roles. Moreover, larger economic factors, like recessions, can disproportionately affect minority-owned businesses due to their generally smaller size and reduced financial buffers. It’s essential to understand these challenges within broader socio-economic contexts.

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