Let's open the door to economic equity, opportunities and growth!
The Association of Businesses of Color advocates for change, creates and shares opportunities for funding and growth. The members and allies nurture a strong, supportive community of entrepreneurs working together for economic equity and justice in Washtenaw County.
Why are we needed?
Supporting minority entrepreneurship opens the door to economic mobility, creating individual, generational and community wealth. By working together, businesses of color can address systemic inequities.
Immigrants are almost twice as likely to start their own business, and business owners of color are more likely to start a business than their white peers. The Association of Businesses of Color works to meet the needs of this growing share of entrepreneurs and help them thrive. Source
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Business owners of color in Washtenaw County were more than twice as likely to be denied a loan during the pandemic. The Association of Businesses of Color strives to build better relationships with banking institutions and ensure equal access to financing. Source
Business owners of color in Washtenaw County were 58% more likely to close their business permanently during the pandemic. Paradoxically, those business were more likely to be essential businesses. This closure rate speaks to the additional barriers businesses of color face. Source