How African American Entrepreneurs Can Power the Economy

New business creation is down in general, but up among African Americans.

For the last three decades, the rate of new business creation has been on a steady decline in the U.S., according to various researchers.

Some potential causes include the growing power of entrenched and larger companies, slowing population growth, and more recently, the financial crisis, which wiped out hundreds of thousands of businesses.

That’s bad news for anyone who understands that entrepreneurship, with its power to create jobs, has profound effects on the economy. Small business provides about half of all private sector jobs in the U.S., per the Small Business Administration.