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Democratic candidates are gearing up to secure the Black vote in the upcoming 2020 presidential election. Former mayor of New York City and presidential hopeful, Mike Bloomberg is among those rolling out initiatives and reform plans aimed at empowering and supporting Black businesses and entrepreneurship. According to Black Enterprise Bloomberg announced his Greenwood Initiative: Economic Justice For Black America plan during MLK weekend. The plan is named after the Greenwood community located in Tulsa, Oklahoma which was the home of Black WallStreet, a thriving early 20th-century community of Black businesses and entrepreneurs. According to Bloomberg’s official campaign site , the Greenwood plan promises to create 100,000 new Black-owned businesses and one million new Black homeowners over the next decade. The details of the Greenwood plan are to increase Black businesses by providing one-stop shops for entrepreneurs, increasing incubators, strengthening Black-owned banks, and...
As Democratic candidates for the 2020 presidential election campaign to receive your vote, one topic is closing America’s wealth gap via monetary support for Black-owned businesses. Here is an analysis of each Democratic presidential candidate and whether or not they’ve proposed a plan to boost Black entrepreneurship: Sen. Cory Booker Getty Images The New Jersey senator wrote his plans to boost Black-owned businesses in an OpEd piece via BET . He proposed a $25 million funding investment in a nation-wide startup accelerator program for “geographically-underserved” communities. He wants to specifically target veterans, women, and people of color. Booker also wants to provide more capital for entrepreneurs in every community with a $1.5 billion investment in the State Small Business Credit Initiative (SSBCI). In addition, to close America’s racial wealth gap for young adults, he proposed a “baby bond” that would essentially be federally-funded savings accounts for every child born in...