(ThyBlackMan.com) America is supposed to be a business-friendly country, in which almost anyone can start a business. Unfortunately, it seems the country is more generous to some groups of individuals than others. In recent studies, it has been confirmed that African Americans simply do not own enough businesses for their respective population ratio in the United States. When compared to Hispanic-Americans and Asians, African Americans lag far behind. Why is so difficult for African-Americans to own and operate businesses in America? You’ll learn more below.
The Statistics
Recent statistics show that black Americans, despite being 13.4% of the population, own just 5% of American businesses. In financial 
terms, the businesses only account for .5% of total business in the country. Unfortunately, the statistics are even more disgusting when compared to other races. Asians account for 4.5% of the population and do far better in terms of business ownership. They own 4.5% of the businesses in the country. Hispanic-Americans, which make up 11.9% of the population, own around 7% of the businesses.
There are simply too few black-owned businesses in the United States and that is a major problem.
The Problems
Why are blacks having such a difficult time starting their own businesses? The truth of the matter is that the problems are enormous and very diverse. There is no single universal problem holding back everyone. Anand Mishra recently spoke on the matter and agreed that African Americans simply do not have enough opportunities to start businesses. American leaders have failed to put programs in place to allow blacks to open businesses should they wish to do so. Simultaneously, black businesses that are opened get far fewer capitals than their white-owned counterparts.
This can lead the companies to face credit denial. Truly, the hurdles African Americans must jump in order to start a business are far bigger and more frequent than other races.
The Diversity Myth
Some businesses and even the United States government have taken steps to try and diversify their workforce and business dealing. Nevertheless, these attempts have been futile. For today’s biggest corporations, diversity is still a major problem and it is even worse when it comes to supplier diversity. In 1978, the federal government put a mandate in place to ensure federal agencies did 8% of their business with disadvantages black-owned businesses. The move created unrest in the government and even more repercussions in the corporate world. Nevertheless, it failed to succeed.
Addressing The Problem
Sadly, not enough is being done to address the lack of black-owned businesses in the United States. And, it is a serious problem that needs to be taken seriously. The problem needs to be addressed on the practical and political levels. Politicians need to get serious about elevating the black citizens of the United States, while local communities must do more to ensure African Americans have the same opportunities as others. Remember that there are business grants specifically designated for African-American men and women. These grants are offered by companies, non-profits, and even some government agencies.
So, there is some assistance out there. Nevertheless, not enough is being done to address the issue.
Staff Writer; Derrick Johnson
