While Black and Latinx residents make up 42% and 15% of the population respectively, they only own 8% and 3% of small businesses in the city. Annually, business owners of color in Philadelphia earn only 13% of revenue compared to their white counterparts. Amidst the COVID-19 pandemic and a renewed pursuit for social justice, United Way of Greater Philadelphia and Southern New Jersey, the City of Philadelphia, and PIDC have embarked on an endeavor to understand and address the unique needs of small businesses owned by Black and people of color, women, and immigrants in Philadelphia. It is a critical time to unify efforts to achieve a more equitable and inclusive ecosystem for diverse small businesses and entrepreneurs across our city. Next Street and Urbane Development are leading the research efforts to identify the challenges and opportunities for Philadelphia's diverse business owners - from capital access to business support services to supporting the whole entrepreneur which address the unique social/cultural needs of Black and people of color owned businesses. Join our diverse panel of business owners, researchers, and project partners to learn about initial findings from the research and participate in an ongoing dialogue to create a more just and equitable business ecosystem for diverse businesses in Philadelphia.
This session is sponsored by:
