Becoming an entrepreneur/business owner has been a part of the “American Dream” for as long as time can tell, and a growing aspiration for many. But did you know that according to the 2018 Annual Business Survey, Black/African American owned employer businesses account for only 2.2% of the 5.7 million employer businesses in the United States? While this number has been increasing since 2002, this population is still disproportionately smaller than the population overall. Why might this be the case? Based on a poll of 400 Black business owners commissioned by Groupon and the National Black Chamber of Commerce, 80% of Black business owners said they faced significantly more challenges getting their business of the ground because of their race. This episode of The Workforce Wire features a discussion between three successful black business owners taking their seat at the table. Join us as we speak with Korey Neal, President of K. Neal Truck & Bus Center, Delegate Darryl Barnes (District 25), President of Men Aiming Higher, Inc. & Barnes International Ltd., and Laurie Sayles, President & CEO of Civility Management Solutions (Civility MS) about their experiences and challenges as Black entrepreneurs.

Youth activism has been on the rise throughout the past two decades, but COVID-19 accelerated engagement among youth in our nation. According to CNN, although the pandemic has led to community lockdowns and increased isolation among youth, “Young Americans, in particular, are showing commitment to a pragmatic center of policy priorities: affordable health care for all, environmental sustainability, international cooperation, civil rights and economic justice. Despite their current isolation, most young Americans embrace empathetic leadership and they are devoted to serving their communities.” Join us in this episode of the The Workforce Wire while we discuss this with Brandon Cooper, Richard Elliott and Janna Parker, three activists that have been using their voice to make a difference in our community, their pathway to becoming leading voices of activism in Maryland and if this is a pathway that will lead them to pubic office.

Slavery, Jim Crow, and decades of economic inequalities have severely impacted the earnings and wealth of black Americans. McKinsey & Company reported that the median white family had more than ten times the wealth of the median black family in 2016. Additionally, McKinsey & Company stated that, “the racial wealth gap between black and white families grew from about $100,000 in 1992 to $154,000 in 2016”. Two years later the Business Insider include the following stated in their article, “In 2018, the average black American was earning roughly 60% of the average white American, and that ratio has been largely stable throughout the past two decades.” In this episode of The Workforce Wire, Walter Simmons will be joined by Marcus N. Daniels, Commercial Real Estate Broker at NAI Michael, and April Richardson, CEO of DC Sweet Potato Cake to discuss strategies behind increasing the earnings of black Americans and increase the overall wealth of black America.

As Money Under 30 stated, wealth meant to sustain a healthy financial future for years to come, characterized by long-term financial prosperity in combination with your total net worth. If the income gap wasn’t alarming enough, The Brookings Institution found that the net worth of a typical white family ($171,000) is nearly ten times greater than that of a Black family ($17,150).