Removing barriers: How policy interventions can sustain Black-owned employer business growth

Across more than five years of research, the Brookings Institution has analyzed the tremendous growth in Black-owned employer businesses. From 2017 to 2022, Black-owned firms increased by 56.9%, adding $212 billion in revenue to the national economy annually. However, it is unclear if this growth results from structural changes, such as increased accessibility to credit for Black-owned firms. And in light of recent federal policy changes, it is vital to explore policies to ensure long-term sustainability of this growth.

On June 16, Brookings Metro—in collaboration with the Path to 15|55 initiative, which endeavors to grow the percentage of Black-owned employer firms—will discuss how the business environment has changed for Black entrepreneurs. Senior Fellow and Center for Community Uplift Director Andre Perry will present new data exploring how pathways to business ownership, including access to capital and wealth, and the availability and efficacy of CDFIs and other mission-driven lenders, have developed in recent years. Then, CapEQ President and CEO Tynesia Boyea-Robinson will moderate a panel on public, private, and philanthropic sector solutions to open new pathways for Black entrepreneurs to access capital and for cities and regions to sustain strong growth in Black-owned businesses.