It Costs Black Entrepreneurs $6K More Than Other Racial Groups To Fund A New Business, New Data Finds

Essence Magazine:

By Jasmine Browley ·Updated February 16, 2023

It can be tough starting a viable business. Turns out it’s even tougher for Black founders according to new data from Intuit.

The financial management platform commissioned a survey of 1,000 Black business owners to share their small business struggles and successes. One key finding revealed that at startup, on average, it cost Black respondents approximately $21,000 to start their businesses—$6,000 more than

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