📺 Stream EntrepreneurTV for Free 📺

Watch: How to Create Equitable Access to Capital Black entrepreneurs face significant inequities in startup capital. What's the fix?

By Entrepreneur Staff

entrepreneur daily

Black entrepreneurs face significant inequities in startup capital — and as a result, 38% of Black business owners feel discouraged to apply for loans, compared to only 13% of white entrepreneurs. How can that gap be bridged? At Yelp's first-ever Black in Business Summit in August, which was sponsored in part by Entrepreneur, speakers and panelists discussed financial readiness and access to funding, as well as more strategies for succeeding as a Black business owner in the face of systemic inequality.

In the panel Creating equitable access to capital, executives from Truist Foundation, CornerSquare Capital and Combs Enterprises shared what business owners should know about their financial health and accessing capital. You'll learn:

  • What a CDFI (community developed financial institution) is and how they support businesses that need flexibility or are denied funding through traditional channels

  • How to use your business plan to track your cash flow and determine the gaps in your business

  • The importance of tenacity and not giving up while building relationships that can impact your bottom line

Yelp also sat down with Nicole Gibbons, CEO of the online paint retailer Clare, and one of the few Black women to receive more than $1M in funding. Clare made history with its funding and turned a lot of heads. Click here to watch that session, where you'll hear how Nicole's experiences as a woman of color impacted how she builds her business and what small business owners can learn from her mistakes. You'll also learn:

  • How Nicole turned her side hustle into a successful company with over $4 million in venture capital funding

  • The importance of confidence, storytelling and communication when it comes to successful branding of a business

  • The networking channels Nicole used to get in touch with VCs and others who considered her business for funding

Entrepreneur Staff

Entrepreneur Staff


For more than 30 years, Entrepreneur has set the course for success for millions of entrepreneurs and small business owners. We'll teach you the secrets of the winners and give you exactly what you need to lay the groundwork for success.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Side Hustle

These Coworkers-Turned-Friends Started a Side Hustle on Amazon — Now It's a 'Full Hustle' Earning Over $20 Million a Year: 'Jump in With Both Feet'

Achal Patel and Russell Gong met at a large consulting firm and "bonded over a shared vision to create a mission-led company."


Want to Be More Productive? Here's How Google Executives Structure Their Schedules

These five tactics from inside Google will help you focus and protect your time.

Side Hustle

How to Turn Your Hobby Into a Successful Business

A hobby, interest or charity project can turn into a money-making business if you know the right steps to take.

Business News

These Are the 10 Most Profitable Cities for Airbnb Hosts, According to a New Report

Here's where Airbnb property owners and hosts are making the most money.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.