How to Fix Racial Disparities in Entrepreneurship Over 50

An Encore.org survey determined that although African Americans age 50 to 70 have much more interest in entrepreneurship than older white Americans, actual entrepreneurs are more likely to be white and to earn more, as well as be more educated and affluent, reports Forbes . Overall, white Americans have access to more affordable banks and lending outfits than minorities, and they tend to have larger social or professional networks with access to key contacts who can help them launch ventures. Local business and civic leaders, academics, and engaged citizens can overcome these racial differences by collaborating with those in communities of color and lower-income communities to forge links to entrepreneurial opportunities. This includes greater access to banks and lending institutions and to current entrepreneurs, entrepreneurial hubs, and incubators. The AARP Foundation is getting involved with its Work for Yourself@50+ workshops. Higher learning institutions are also being urged to boost offerings into communities who lack access to their knowledge, as well as help minorities in mid-life learn from community members.