Elizabeth Warren wrote a post on her Medium. (Image via Black Enterprise)

Elizabeth Warren Request a Sum of Money to Fund Minority's Business

Senator Elizabeth Warren wrote a Medium post on Friday, June 14. The post is about her concern of the people of color’s business for not having enough funds to expand their business. The businesses that Warren mentioned were small businesses, where the owners need extra amount of money to reach wider consumers.

Warren stated that if she is elected as President, she would invest $7 billion in funding to provide grants for non-wealthy entrepreneurs. Her concern is based on a Census Bureau which shows that people of color only own 18% of businesses with paid employees, although they make up about 40% of the U.S. population. Warren also wrote that she would call the program as “Small Business Equity Fund” and make sure it will be a part of a new government body.

According to Warren, there are racial problems in America, and the small business gap is one of them. There is a quite difference between White entrepreneurs with Black, Latinx, Native American, and other minority families entrepreneurs. Moreover, she thinks that the government helped in creating the gap.

Warren explains further about her future program. She said the new funding will go towards grants as part of a broader effort while cutting down on debt obligations. Therefore, her program is not going to be about loans or loan guarantees. With her programs, she hopes to create 1.1 million jobs.

Recently, Warren comes second in a poll created by UC Berkeley-Los Angeles Times. The first place is former Vice President Biden with 22%, Warren with 18%, and Senator Bernie Sander with 17%.

Source: https://time.com/5607034/warren-plan-small-business-equity/