Why Black-owned businesses are more profitable by necesity

Did you know Black-owned businesses are often more profitable than white-owned businesses, yet they’re still denied funding more often?

It’s true.

Based on our analysis of over 5,000 businesses that use Bags, Black-owned businesses have an average annual profit margin of 28% versus -2.6% for white-owned businesses. Despite this, Black-owned businesses are more likely to be rejected for loans.

So why is it still so hard for them to get the funding they need to grow?

In conjunction with the release of our 2024 impact report, this week on #TheCashPod, we’re diving into the history behind these disparities, why they persist, and how to build a better system for all small businesses.

Read the report on https://securebags.com/impact-report.