LEARNING AREA: Economic Development, Racial Equity

Bridging the Divide: How Business Ownership Can Help Close the Racial Wealth Gap


Joyce Klein, FIELD, The Aspen Institute




Our nation faces significant challenges addressing the growing racial wealth gap. This white paper, written by FIELD Director Joyce Klein, outlines the role that business ownership can and does play in building wealth for people of color. The white paper outlines short- and long-term recommendations to address the racial wealth gap through business ownership strategies. In the short-term, continuing and expanding efforts to increase access to capital, skills, networks, and markets will be needed to realize the promise that business ownership holds for addressing the racial wealth gap. In the long-term, universal policies to narrow the racial wealth gap — such as those aimed at raising the quality of education, building savings, and increasing financial inclusion — will be critical.