The Vision of TEN X Lab

Black business owners have 12x the wealth of Black non-business-owners (Source: McKinsey)
Pre-pandemic, black-owned businesses were 2.2% of the 31 million U.S. business (Source: U.S. Census)
41% of black-owned companies shut down due to the pandemic, compared with 20% for white-owned businesses (Source: Federal Reserve)
According to the USC Equity Research Institute, 46% of black-owned businesses reported being profitable (Source: Annual Survey of Entrepreneurs, Aspen Institute)
Also, black-owned companies reported the lowest average annual revenue at $58K of all racial demographics. Black-owned sole proprietorships also make the least annual revenue on average at $19,000 (Source: USC Equity Research Institute)
  • These numbers translate to about 200K profitable black-owned companies out of the 31 million businesses in the U.S.
  • If we increase the number of profitable businesses and revenue by 10X to 2 million, we can unlock over $1 trillion in annual revenue and over $5 trillion in equity for black-business owners

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Daniel E. Williams

Daniel E. Williams

Father, husband, and tech advisor giving my unsolicited thoughts on tech, investing, public policy, and culture. @dewilliams