There's no doubt that the pandemic has had a huge effect on small businesses in America. But minority entrepreneurs — and more specifically, minority entrepreneurs over 50 — have faced particular challenges, as well as some opportunities.
Overall, people of color represent about 32% of America's population, but only 18% of its business owners. The racial difference in entrepreneurship is especially true among older owners. A recent survey by Guidant Financial and the Small Business Trends Alliance showed that while 46% of white small business owners are boomers (age 57 to 75), only 28% of minority business owners are.
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