It’s no secret that a lot goes into starting your own small business. Entrepreneurs are faced with countless hours of strategic planning, phone calls, meetings, emails, and more — and when you add in additional factors, like being a minority business owner, it can make the startup process more difficult.
According to the 2018 Annual Business Survey , out of the total number of businesses in 2017, there were:
23.9% Asian-owned businesses
6.1% veteran-owned businesses
5.6% Latinx (Hispanic-owned) businesses
2.2% Black or African American-owned businesses
The difference in owner demographics is substantial, which is why it is important to continue increasing diversity in the workplace. Even though the number of underrepresented business owners continues to grow, these individuals may still find themselves facing more obstacles than the average business owner. Listed throughout this article are various resources minority business owners can utilize to help level the playing field.
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