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Report: It will take 333 years to erase equity gap for minority-owned businesses


Posted at 10:14 AM, May 06, 2021
and last updated 2021-05-06 10:16:05-04
It will take 333 years for minority-owned businesses to achieve revenue equity with white-owned businesses in the United States, the Michigan Minority Supplier Development Council said.
President and CEO Michelle Sourie Robinson said increasing supplier diversity remains a significant challenge, and achieving parity would bring a significant boost to the overall economy.
Robinson said Black-owned and white-owned businesses would add $290 billion in overall wealth.
New MMSDC research shows increased corporate commitment to minority businesses could close the gap in 15 years.
She said a key solution to shortening the timeline is a deliberate and intentional focus on minority firms access to and spending from corporations. ....

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