This article seems to solely focus on venture-backed startups. It would be interesting to understand how the venture world does in terms of inclusivity versus more traditional entrepreneurship like starting a restaurant or other small local business.
According to surveys from US Census data in 2017 (1), it seems pretty similar. This points to not VCs as the source of the problem but more to the general racism that exists. Starting a business in any sense is perhaps the largest financial risk any individual can take. Being able to afford that risk is a huge privilege accessible to only a few. I'm glad there's a focus on creating more opportunities for minorities in the VC but ultimately this reflective of the structural racism that seeps through every part of American society.
According to surveys from US Census data in 2017 (1), it seems pretty similar. This points to not VCs as the source of the problem but more to the general racism that exists. Starting a business in any sense is perhaps the largest financial risk any individual can take. Being able to afford that risk is a huge privilege accessible to only a few. I'm glad there's a focus on creating more opportunities for minorities in the VC but ultimately this reflective of the structural racism that seeps through every part of American society.
(1) https://blackdemographics.com/economics/black-owned-business...