The problem, retold in numbers: The average cost to start a business from scratch is $30,000, and many people look to those who are closest to them for help. The median net worth of white households in the U.S. is $141,900. Black households have a median net worth of $11,000. Those are two very different pools of cash to tap.
“Supporting Derrick, linking him to other people who are fighting similar things in other communities, helps us have the conversation about how this early money is missing and how we will not ever get to the kind of communities that we say we want if we don’t plug up this hole, if we don’t plug up this runway with a lot more strength than we have right now.”
