$290 Billion Would Be Created in Black Wealth if The Revenue Gap Between Black and White Businesses Was Closed (iStock.com/fizkes) Here’s a thought-provoking statistic: A whopping $290 billion would be created in Black wealth if the revenue gap between what Black-owned and white-owned businesses generate were equal. That discovery came from building supportive ecosystems for Black-owned U.S. businesses, a fresh report from management consulting firm McKinsey & Co. reveals. The research showcases hurdles Black entrepreneurs face and provides answers that the public, private, and social sectors can implement for equitable and positive business outcomes. The report notes the right business ecosystems can mitigate or negate the effects of structural obstacles to business building for Black business owners, adding $290 billion in business equity. The report released in late October found entrepreneurship and business ownership — particularly of community-based businesses— are crucial ways to develop community wealth for both business owners and their employees. Further, healthy Black-owned businesses could be an essential way for closing America’s racial wealth gap, which is projected to cost the economy $1 trillion to $1.5 trillion annually by 2028.