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According To A 2019 Study By The Urban Institute.pdf

building_community_and_wealth_in_underserved_commercial_corridors_5.pdf
Preview of according to a 2019 study by the Urban Institute
🔗 Source: urban.org
📊 Size: 337 KB
👤 Author: Gonzalez, Jorge
⬇️ Downloads: 60

Summary

Commercial corridors in US neighborhoods, particularly those with large nonwhite populations, face challenges in developing thriving businesses due to limited resources and! opportunities. Nonwhite-owned businesses are underrepresented, with Hispanics making up 16% of the adult population but only 6% of business owners, and African Americans representing 12% of the adult population but only 2% of business owners. These businesses often struggle to access financing, pay competitive salaries, and generate significant revenues. Chicago's Neighborhood Opportunity Fund aims to address these issues by linking downtown development wealth to small businesses in underserved commercial corridors, providing grants to support business development projects, with over 74% of approvals going to entrepreneurs of color.

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Commercial corridors in US neighborhoods, particularly those with large nonwhite populations, face challenges in developing thriving businesses due to limited...

Technical Information

  • File Format: PDF
  • File Size: 337 KB
  • Pages: 14
  • Language: EN
  • Author: Gonzalez, Jorge
  • Total Downloads: 60
  • Last Updated: 1 week ago

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