Sage Journals: Discover world-class research

Abstract

Decades into the digital era, publicly available data on Black, indigenous, and people of color (BIPOC) owned businesses are still remarkably lacking. In this commentary piece, the authors cover recent literature on the importance of BIPOC-owned businesses for equitable growth and BIPOC wealth-building. The authors then examine the sources of data that are available – public and private – for tracking the success or failure of such businesses. A BIPOC business database was constructed from a variety of sources and used by the authors to examine the potential pitfalls of such exercises. The authors close with a call for better data collection on BIPOC businesses.

Keywords

data BIPOC-owned businesses equitable growth

Get full access to this article

View all access options for this article.

References

Alvarez

Andrews

Lung-Amam

(2021). Small business anti-displacement network toolkit. Small Business Anti-Displacement Network. https://antidisplacement.org/wp-content/uploads/2021/09/Toolkit_FINAL.pdf

Atkins

Cook

Seamans

(2022). Discrimination in lending? Evidence from the Paycheck Protection Program. Small Business Economics, 58(2), 843–865. https://doi.org/10.1007/s11187-021-00533-1

Bates

Farhat

Casey

(2022). The economic development potential of minority owned businesses. Economic Development Quarterly, 36(1), 43–56. https://doi.org/10.1177/08912424211032273

Bates

Robb

(2013). Greater access to capital is needed to unleash the local economic development potential of minority-owned businesses. Economic Development Quarterly, 27(3), 250–259. https://doi.org/10.1177/0891242413477188

Bates

Robb

(2016). Impacts of owner race and geographic context on access to small business financing. Economic Development Quarterly, 30(2), 159–170. https://doi.org/10.1177/0891242415620484

Chapple

Loukaitou-Sideris

González

S. R.

Kadin

Poirier

J. A.

(2017). Transit-oriented development and commercial gentrification: Exploring the linkages . https://doi.org/10.13140/RG.2.2.36525.84968

Cowley

(2021, April 4). Minority entrepreneurs struggled to get small-business relief loans. The New York Times. https://www.nytimes.com/2021/04/04/business/ppp-loans-minoritybusinesses.html

Dettling

L. J.

Hsu

J. W.

Jacobs

Moore

K. B.

Llanes

J. P. T.

with assistance from E. (2017). Recent trends in wealth-holding by race and ethnicity: Evidence from the survey of consumer finances. The Federal Reserve Board of Governors. https://www.federalreserve.gov/econres/notes/feds-notes/recent-trends-in-wealth-holding-by-race-and-ethnicity-evidence-from-the-survey-of-consumer-finances-20170927.html

Fairlie

R. W.

(2006). Entrepreneurship among disadvantaged groups: Women, minorities and the less educated. In Parker

(Ed.), The life cycle of entrepreneurial ventures (Vol. 3, pp. 437–475). Springer U.S. https://doi.org/10.1007/978-0-387-32313-8_15

10.

Fairlie

R. W.

(2020). The impact of covid-19 on small business owners: Evidence of early stage losses from the April 2020 Current Population Survey [Working Paper]. National Bureau of Economic Research. https://doi.org/10.3386/w27309

11.

Fairlie

R. W.

(2022). The impacts of COVID-19 on racial inequality in business earnings [Working Paper]. National Bureau of Economic Research. https://doi.org/10.3386/w30532

12.

Fairlie

R. W.

Robb

Robinson

D. T.

(2020). Black and White: Access to capital among minority-owned startups [Working Paper]. National Bureau of Economic Research. https://doi.org/10.3386/w28154

13.

Fairlie

R. W.

Robb

A. M.

(2010). Disparities in capital access between minority and non minority-owned businesses: The troubling reality of capital limitations faced by MBEs. U.S. Department of Commerce, Minority Business Development Agency. https://www.mbda.gov/disparities-capital-access-between-minority-and-non-minority owned-business-enterprises-troubling

14.

Huang

Bao

Zhang

Zhao

(2023). Black businesses matter: A longitudinal study of Black-owned restaurants in the COVID-19 pandemic using geospatial big data. Annals of the American Association of Geographers, 113(1), 189–205. https://doi.org/10.1080/24694452.2022.2095971

15.

Kroeger

Wright

(2021). Entrepreneurship and the racial wealth gap: The impact of entrepreneurial success or failure on the wealth mobility of Black and White families. Journal of Economics, Race, and Policy, 4(3), 183–195. https://doi.org/10.1007/s41996021-00081-6

16.

Lee

Mitchell

Lederer

(2019). Disinvestment, discouragement and inequity in small business lending. https://dataspace.princeton.edu/handle/88435/dsp01p8418r27s

17.

Lung-Amam

(2021). Businesses are victims of gentrification too. Bloomberg CityLab. https://www.bloomberg.com/news/articles/2021-05-19/small-businesses-are-victims-of-gentrification-too

18.

Meyer

B. H.

Schweitzer

M. E.

(2022). Access to credit for minority-owned businesses. Economic Commentary (Federal Reserve Bank of Cleveland), 2022–04. https://doi.org/10.26509/frbc-ec-202204

19.

Ong

P. M.

Pech

Ray

(2014). TOD impacts on businesses in four Asian American neighborhoods (UCLA TOD Study). UCLA Center for the Study of Inequality. https://www.urbandisplacement.org/wp-content/uploads/2021/08/overall_tod_final.pdf

20.

Robb

Barkley

de Zeeuw

(2018). Mind the gap: How do credit market experiences and borrowing patterns differ for minority-owned firms? Federal Reserve Bank of Atlanta, Community and Economic Development Discussion Papers. https://doi.org/10.29338/dp2018-03

21.

Robb

Morelix

(2016). Startup financing trends by race: How access to capital impacts profitability [SSRN Scholarly Paper]. https://doi.org/10.2139/ssrn.2859893

22.

Schmahmann

Elias

Chapple

Johnson

(2021). Mapping POC-owned business vulnerability in the wake of COVID-19. University of California, Berkeley Urban Displacement Project. https://www.urbandisplacement.org/maps/minority-owned business-vulnerability/

23.

United States Senate Committee on Small Business and Entrepreneurship (n.d.). Helping Maryland’s minority small business owners. https://www.sbc.senate.gov/public/_cache/files/9/6/9670c9a9-3e5c-49ce-bc84-00238e5630c4/B910677B446C65F05A0DA220F753C878.278624-md-minority-sb.pdf

24.

U.S. Census Bureau (2022, November 10). Census Bureau releases new data on minority owned, veteran-owned and women-owned businesses [Press Release Number CB22-TPS.96]. https://www.census.gov/newsroom/press-releases/2022/annual-business-survey characteristics.html

25.

Winston

(2021). The contribution of minority business enterprises to the U.S. economy. U.S. Department of Commerce, Minority Business Development Agency. https://www.mbda.gov/contribution-minority-business-enterprises-us-economy

Data on Black,Indigenous,and People of Color (BIPOC)-Owned Businesses: What's Out There and What Can Be Done?

Abstract

Keywords

Get full access to this article

References